Only company from the global biotech industry to be recognized as ‘industry mover’
Biocon (including Biocon Biologics) is proud to be recognized as the “Industry Mover” in the S&P Global Sustainability Yearbook 2023. Biocon is the only company to be named as “Industry Mover” this year from the Biotechnology industry.
Biocon is also the only Biotechnology company from India to feature on this year’s list, which features a total of 21 Indian companies.
S&P Global’s Sustainability Yearbook publishes an annual ranking of the world’s leading companies based on their sustainable business practices. Over 7,800 companies from the 2022 Corporate Sustainability Assessment (CSA) were considered, and only companies that scored within the top 15% of their industry and achieved an S&P Global Sustainability Score within 30% of their industry’s top-performing company were selected for the Yearbook.
Recipients of the “Industry Mover” award achieved an annual improvement in their S&P Global ESG Score of at least 5% and the strongest improvement in their industry. The recognition of Biocon as an “Industry Mover” is testament to the company’s continuous development and commitment towards sustainability and its excellence in Environmental, Social and Governance (ESG) practices.
ESG is at the core of Biocon’s business purpose and responsibility. The company defines, develops and manages its ESG programs on five key pillars: Improve access to high quality therapeutics to drive ‘Patient Equity’; Build an empowering and inclusive workplace creating ‘People Equity’; Adapting to sustainable business operations for ‘Environment Equity’; Operate with integrity, transparency and accountability ensuring ‘Stakeholder Equity’; Enable underserved communities to achieve ‘Social Equity’.
Biocon has recently committed to the United Nations Global Compact (UNGC), the world’s largest corporate sustainability initiative, indicating its support to critical sustainability areas of environment, human rights, labour and anti-corruption.
S&P provides ESG Scores based on a stringent evaluation and screening process. These scores are calculated based on the assessment of corporate sustainability performance in the S&P Global Corporate Sustainability Assessment (100 being the highest). Biocon improved its score to 52 points in 2022, up from 45 in 2021 on the Dow Jones Sustainability Index (DJSI) in the Emerging Markets (EM) category.
The 2023 edition of the Yearbook is the result of the analysis of 61 different industries and a detailed assessment of more than 7,800 companies, for which more than 14 million data points were collected. The results of this assessment help investors identify companies that are successfully addressing the opportunities and risks of the global sustainability challenge.
By serving patients, protecting the environment, and promoting business integrity, Biocon is taking ‘sustainable action’ every day, reinforcing its commitment to building an equitable and viable future.