The contract development and manufacturing organization (CDMO) published its second annual ESG Report earlier this week.
That publication, according to the organization, addresses a wide range of environmental, social, and governance (ESG) activities related to its business, including a reduction of greenhouse gas (GHG) emissions.
“The publication of our annual ESG report reinforces the progress we’ve made, while keeping us focused on the long-term goals we’ve set,” said John Rim, CEO of Samsung Bio.
The CDMO said the data shows the work done to date by the company in reducing Scope 1 and 2 emissions by 32.3% compared to the previous year. It is pledging to reduce its total Scope 1 and 2 emissions by 54.3% and Scope 3 emissions 25.7% by 2026, compared to 2021.
It also outlined how it is supporting ESG activities of its partner companies and requiring suppliers to comply with its supplier code of conduct, which was amended this February in accordance with the Responsible Business Alliance (RBA) and Pharmaceutical Supply Chain Initiative (PSCI).
That move is about reducing ESG risk in its supply chain and building a stable network of partners, noted the contract manufacturer.
Climate risk management model
Samsung Bio is participating in the Frontier 1.5D initiative to develop a climate risk management model as part of the 2050 Carbon Neutral Strategy in response to the ongoing challenges associated with global climate change.
Through the Carbon Disclosure Project (CDP), the CDMO said it will determine the risks and opportunities within its business to address climate change, and then analyze the financial impact to adjust its response policies in relation to factors such as lowering GHG emissions.
Based on PricewaterhouseCoopers’ total impact measurement and management methodology, it has contributed 1.6 trillion Korean won in economic and social value creation, with the company detailing its activities around youth education provision and scholarship support, equitable access to healthcare services, and childcare support.
In addition, it reports that it has established increased independence and transparency in its Board structure by separating the chair and CEO positions, and granting outside directors the right to request documentation.
In April, Samsung Bio said its Plant 4 is expected to be partially operational by October this year to support 6 x 10KL production capacity.
Upon its full completion in mid-2023—six months ahead of schedule—the combined capacity of all plants is expected to total 620KL, which it said will result in the world’s largest biomanufacturing capacity at a single site.
As part of its future growth plan, the company is also in the process of securing an additional 350,000 sq. m of land for its second Bio Campus, which will be 30% larger than the size of the current site.