Overall Score of 66 puts Biocon in the 89th percentile in 2022 Assessment
Bengaluru, Karnataka, India – April 3, 2023
Biocon Ltd, an innovation-led, fully integrated global biopharmaceuticals company, today announced that it has been awarded a Silver medal by EcoVadis, the world’s most trusted provider of business sustainability ratings, for its continued commitment to improving sustainability across business operations in Biocon and Biocon Biologics.
The Silver medal puts Biocon in the top 25% of the 40,000 companies assessed by EcoVadis in 2022. Biocon, including Biocon Biologics, received a score of 66 on EcoVadis’ 2022 scorecard, putting it in 89th percentile, which is a significant improvement from the 2021 score of 52 that placed the company in 62nd percentile last year. For the year 2022, Biocon bettered its score in all the four EcoVadis themes – Environment (70), Labor & Human Rights (70), Ethics (60) and Sustainable Procurement (60) for the year 2022. Among these, the highest improvement came in Environment and Sustainable Procurement scores.
Kiran Mazumdar-Shaw, Executive Chairperson, Biocon and Biocon Biologics, said: “The Silver Medal from EcoVadis highlights Biocon’s continuous progress and commitment towards excellence in Environmental, Social and Governance (ESG) practices. ESG is at the core of our business purpose and responsibility. As a company committed to achieving sustainable growth with positive social and environmental impacts, we are continually adopting global best practices to drive positive change by demonstrating conscious capitalism, environmental stewardship, talent diversity and globally benchmarked standards of governance.”
The EcoVadis score reflects the quality of the company’s sustainability management system at the time of the assessment.
EcoVadis’ methodology is built on international sustainability standards, including the Global Reporting Initiative, the United Nations Global Compact, and ISO 26000. The EcoVadis award is a recognized and reliable global business sustainability rating.
|Labor & Human Rights
While announcing the scorecard and the silver medal, EcoVadis also said it would plant a tree on Biocon’s behalf through its partnership with One Tree Planted.
Sustainability is integral to Biocon’s business purpose, and the Company has a clear Environmental, Social and Governance (ESG) strategy that is implemented across Biocon and Biocon Biologics.
EcoVadis is reporting on the sustainable business practices being adopted by the 100,000+ companies with a sustainability rating in its network and the key metrics quantifying the positive social and environmental outcomes of these efforts. Validated by a global team of experts, EcoVadis’ evidence-based ratings are adapted to more than 200 industry categories, 175 countries, and companies of all sizes. Its scorecards provide benchmarks, insights, and a guided improvement journey for environmental, social, and ethical practices.
Biocon, which includes Biocon Biologics, is among thousands of global companies that collaborate with EcoVadis to assess and improve their sustainability performance and benchmark their sustainability achievements against other companies.
EcoVadis is a purpose-driven company whose mission is to provide the world’s most trusted business sustainability ratings. Businesses of all sizes rely on EcoVadis’ expert intelligence and evidence-based ratings to monitor and improve the sustainability performance of their business and trading partners. Its actionable scorecards, benchmarks, carbon action tools, and insights guide an improvement journey for environmental, social and ethical practices across 200 industry categories and 175 countries. Industry leaders such as Johnson & Johnson, L’Oréal, Unilever, LVMH, Bridgestone, BASF and JPMorgan are among the 100,000 businesses that collaborate with EcoVadis to drive resilience, sustainable growth and positive impact worldwide.
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 and Europe. It also has a pipeline of promising novel assets in immunotherapy under development. Website: www.biocon.com; Follow-us on Twitter: @bioconlimited for company updates.
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 affordable biologics for millions of patients worldwide. It is leveraging cutting-edge science, innovative tech platforms, global scale manufacturing capabilities and world class quality systems to lower costs of biological therapeutics while improving healthcare outcomes. BBL has acquired the global biosimilars business of its long-standing partner Viatris, which is a historic milestone in its value creation journey. Biocon Biologics has commercialized eight biosimilars in key emerging markets and advanced markets like U.S., EU, Australia, Canada, Japan. The Company has a pipeline of 20 biosimilar assets across diabetology, oncology, immunology, and other non-communicable diseases. It has many ‘firsts’ to its credit in the biosimilars industry. It has also signed a strategic alliance with Serum Institute Life Sciences for vaccines (subject to certain closing conditions) to address the inequitable access to lifesaving vaccines. As part of its environmental, social and governance (ESG) commitment, BBL is advancing the health of patients, people and the planet to achieve key UN Sustainable Development Goals (SDGs). Website: www.bioconbiologics.com; Follow us on Twitter: @BioconBiologics for company updates.