S&P Global ESG Score at 63; Inducted in Dow Jones Sustainability Emerging Markets Index for 3rd Year in a Row
Bengaluru, Karnataka, India: February 20, 2024:
Biocon Limited (BSE code: 532523, NSE: BIOCON) today announced its inclusion in S&P’s Sustainability Yearbook 2024 for the second consecutive year, based on the S&P Global Corporate Sustainability Assessment (CSA) of Biocon and Biocon Biologics Limited for 2023.
Sustainability is integral to Biocon’s business purpose, and the Group is executing a progressive Environment, Social and Governance (ESG) strategy aligned with stakeholder expectations and business objectives. Biocon’s S&P Global ESG score was 63 versus 52 previously, placing it among the Top 10 global biotechnology companies from within the 300 companies that were assessed.
Kiran Mazumdar Shaw, Chairperson, Biocon & Biocon Biologics, said: “We are pleased to be recognized by S&P Global for our robust sustainable business practices. As a responsible corporate citizen, we are implementing a comprehensive ESG strategy across Biocon Group in line with our philosophy of Unconditional Equity. We are continuously striving to enable Patient Equity, People Equity, Environmental Equity, Stakeholder Equity and Social Equity.”
The S&P Global CSA, a leading corporate sustainability database, enables companies to directly report key sustainability metrics and benchmark their sustainability performance on a wide range of industry-specific economic, environmental, and social criteria. The CSA score shows how a company compares with its peers and members of the prestigious Dow Jones Sustainability Indices (DJSI).
Based on its score, Biocon (including Biocon Biologics) has also been named among global sustainability leaders for the third consecutive year in the Dow Jones Sustainability Emerging Markets Index. This index tracks the performance of the top 10% of the 800 largest Emerging Markets companies in the S&P Global Broad Market Index leading the field in terms of sustainability. It is One among theTwo pharma biotech companies from India on the index.
Embedding sustainability into corporate culture and day-to-day operations is enabling the Biocon Group to continue developing lifesaving medicines in an environmentally and socially responsible manner. The Company’s success can be attributed to its holistic and clearly articulated ESG strategy, which permeates throughout the organization. Biocon’s dedication to ESG and sustainability has resulted in significant improvements in its ratings across various global indices. The Company’s unwavering commitment to responsible business practices and sustainability underscores its mission to make a meaningful impact on society and the environment.
Key Highlights of Biocon (including Biocon Biologics) 2023 S&P Global ESG Scores:
- Environmental Dimension: Achieved a strong score of 69, far exceeding the industry mean of 12.
- Social Dimension: Achieved a score of 62, significantly ahead of the mean of 24.
- Governance & Economic Dimension: Achieved a score of 62, well above the mean of 30.
This year, S&P’s CSA covered 62 industries, 9,400 companies, 174,000 documents and 16.5 million data points. To earn inclusion in the Yearbook, companies must score within the top 15% of their industry and must achieve an S&P Global Sustainability Score within 30% of their industry’s top-performing company.
About Biocon Limited:
Biocon Limited, publicly listed in 2004, (BSE code: 532523, NSE Id: BIOCON, ISIN Id: INE376G01013) is an innovation-led global biopharmaceuticals company committed to enhance affordable access to complex therapies for chronic conditions like diabetes, cancer and autoimmune. It has developed and commercialized novel biologics, biosimilars, and complex small molecule APIs in India and several key global markets as well as Generic Formulations in the US, Europe & key emerging markets. It also has a pipeline of promising novel assets in immunotherapy under development. Follow-us on Linked In: Biocon Limited; Twitter: @bioconlimited for company updates. Website: www.biocon.com
Biocon Biologics Ltd. (BBL), a subsidiary of Biocon Ltd., is a unique, fully integrated, global biosimilars company committed to transforming healthcare and transforming lives by enabling affordable access to high quality biosimilars for millions of patients worldwide. The Company has a portfolio of 20 biosimilar across diabetology, oncology, immunology, ophthalmology, and other non-communicable diseases. Follow us on Twitter: @BioconBiologics and LinkedIn: Biocon Biologics for company updates. Website: www.bioconbiologics.com
Download Press Release
