HONG KONG, April 28, 2023 /PRNewswire/ -- WuXi Biologics ("WuXi Bio") (2269.HK), a leading global Contract Research, Development, and Manufacturing Organization (CRDMO), released its 2022 Environmental, Social and Governance (ESG) Report, which provides a transparent and all-encompassing update on the company's efforts to advance a healthy and sustainable society.
"2022 was another record year for WuXi Biologics, with strong business momentum and sustainable high growth," said Dr. Chris Chen, WuXi Biologics CEO and ESG Committee Chairman. "We have been dedicated to infusing our core values into business development and making more positive social and environmental impacts. Over the past year, ESG concepts were deployed even deeper into our daily operations. We established multiple ESG Task Forces, advanced cross-functional collaborations on the prioritized ESG material issues, and stimulated efficient and effective improvements in our sustainability performance.
In this year's ESG Report, the Company provides transparency regarding its ESG strategy and outlines the remarkable progress on major initiatives that impact its people, global partners, communities and the environment.
Enhancing Corporate Governance
Guided by its ESG strategy, WuXi Biologics aims to implement best governance practices to promote a culture of integrity and strong business ethics. In 2022, all employees participated in ethical standards and anti-corruption training. With oversight from the Board and its executive team, the Company has established comprehensive plans to address potential business risks and help ensure that the highest standards of risk-management are consistently met in its daily operations.
Promoting a Sustainable Supply Chain
While continually improving its own ESG performance, WuXi Biologics also ensures that its suppliers meet the same business ethics and sustainability standards. Supplier sustainability risk assessments were implemented to identify potential risks and remediation actions were provided to help suppliers improve their sustainability management.
Advancing Diversity, Equity, Inclusion
The exceptional growth of WuXi Biologics could not be achieved without its outstanding talents, and creating a safe, inclusive and diverse work environment is a cornerstone of its sustainable business success. The Company has over 12,000 employees – representing 49 nationalities with diverse backgrounds – working across its global operations. In 2022, a global WiSTEM (Women in STEM) program was launched to encourage female employees to pursue both career development and personal growth. Currently, 53% of the Company's STEM positions are held by female employees, a figure much higher than the industry average.
Practicing Corporate Social Responsibility
The Company sees community engagement and commitment as, unquestionably, one of its business responsibilities. Throughout the past year, it established CSR programs on public health (including oncology and rare disease initiatives), supported disadvantaged groups, and contributed to local communities through donations and 5,996 employee volunteer hours.
Tackling Climate Change
With environmental challenges – especially the fight against climate change – widely perceived as one of the dominant concerns for the next decades, WuXi Biologics has deepened its commitment to environmental sustainability through strong strategies and detailed roadmaps, and has set a goal of net zero GHG emissions across all operations by 2050. Each of the Company's new buildings is designed to operate in a more low-carbon and eco-friendly way. In 2022, its Scope 1 and 2 GHG emission intensity decreased by 27% compared to a 2020 baseline, and water consumption intensity was reduced by 24% compared to a 2019 baseline, far beyond the set target of 18%. Environmental reporting transparency has been enhanced by applying the Task Force on Climate-related Financial Disclosures (TCFD) framework.
While making continuous progress in its ESG journey, WuXi Biologics has been widely acknowledged for its proactive efforts. In 2022, it was recognized as both an Industry and Region Top-Rated Company by Sustainalytics, and rated as a top 10 Constituent of the FTSE4Good Emerging Index. In addition, it received leadership rating from CDP, an "A" rating by MSCI for the third consecutive year, and earned a Bronze Medal from EcoVadis.
"As we look into the future, WuXi Biologics will continue to position ESG responsibilities as an integral component of our ethos and business strategy, and will drive our ESG excellence through WuXi Biologics Business System (WBS) lean management," commented Dr. Chen. "We are committed to delivering a stronger ESG performance for all stakeholders and for the greater good of society, while continuing to enable our global partners and benefit patients worldwide."
For the complete 2022 ESG report, please visit: www.wuxibiologics.com/company/#ESG.
About WuXi Biologics
WuXi Biologics (stock code: 2269.HK) is a leading global Contract Research, Development and Manufacturing Organization (CRDMO) offering end-to-end solutions that enable partners to discover, develop and manufacture biologics – from concept to commercialization – for the benefit of patients worldwide.
With over 12,000 skilled employees in China, the United States, Ireland, Germany and Singapore, WuXi Biologics leverages its technologies and expertise to provide customers with efficient and cost-effective biologics discovery, development and manufacturing solutions. As of December 31, 2022, WuXi Biologics is supporting 588 integrated client projects, including 17 in commercial manufacturing.
WuXi Biologics views Environmental, Social, and Governance (ESG) responsibilities as an integral component of our ethos and business strategy, and we aim to become an ESG leader in the biologics CRDMO sector. Our facilities use next-generation biomanufacturing technologies and clean-energy sources. We have also established an ESG committee led by our CEO to steer the comprehensive ESG strategy and its implementation, enhancing our commitment to sustainability. For more information about WuXi Biologics, please visit: www.wuxibiologics.com.
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