11 January 2023 | Wednesday | News
Samsung Biologics (KRX: 207940.KS), a leading contract development and manufacturing organization (CDMO), was awarded the Sustainable Markets Initiative's Terra Carta Seal.
The Terra Carta Seal, launched at COP26 by His Majesty King Charles III when he was Prince of Wales, recognises global companies that are driving innovation and demonstrating their commitment to, and momentum towards, the creation of genuinely sustainable markets. It is being awarded to companies whose ambitions are aligned with those of the Terra Carta, a recovery plan for Nature, People and Planet, launched in January 2021.
Samsung Biologics affirmed its commitment to achieving net zero greenhouse gas emissions across its direct operations and supply chain by 2050 or earlier as part of its global response to climate change.
Due to the complex nature of bioprocessing, the company's environmental management strategy outlines a number of core activities to reduce emissions, including process energy optimization, transitioning to renewable energy by investing in solar panels and utilizing external resources, converting to zero emission vehicles, and minimizing the use of disposables in the manufacturing process through waste management and recycling.
Samsung Biologics is also working to drive successful decarbonization by committing to 100% renewable power through the Climate Group's RE100 initiative and adopting the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) in reporting its climate actions progress.
John Rim, CEO and President, Samsung Biologics said: "We are honoured to be recognized with the Terra Carta Seal by the Sustainable Markets Initiative for Samsung Biologics' contribution in working alongside our industry peers for this global effort. Healthcare is at a pivotal moment and through our collaborative efforts, we can contribute to shaping climate-resilient practices to influence and help shape policy across the pharmaceutical and healthcare sectors."
Brian Moynihan, Co-Chair, Sustainable Markets Initiative said: "The SMI brings CEOs together to work on the shared goals of accelerating our transition to a sustainable future. I congratulate those organizations recognized with the 2022 Terra Carta Seal and thank them for their commitment to sustainable markets."
The Terra Carta Seal acknowledges that each industry faces unique challenges in its transition to a sustainable future and they are all at different stages of their journey. And all industries and companies must be supported as they take steps in a more positive direction. At the same time, an accelerated pace is required if we are to achieve a 1.5-degree target, protect and restore biodiversity and benefit the lives and livelihoods of current and future generations.
Alongside its work to eliminate carbon emissions from its own operations, Samsung Biologics is engaging its suppliers as part of a broader initiative by the Supply Chains Working Group within the Sustainable Markets Initiative's Health Systems Task Force to reduce direct emissions and identify carbon reduction options with the goal of reaching net zero in its supply chain. Last month, the Task Force announced joint action at COP27 to achieve near-term emissions reduction targets and published commitments to decarbonize through a series of whitepapers outlining practical recommendations and scalable actions for health systems stakeholders.
Sir Jony Ive and his creative team at LoveFrom created a physical and animated seal engineered with paper that is both simple and beautifully crafted. The design combines a host of natural references including oak leaves, fern, magnolia and honeybees and intricate patterns both in nature and in the arts, creating a visual celebration which reflects the power of and reverence for nature that is at the heart of the Terra Carta.
For more details and continuous updates on sustainability activities, please visit the Samsung Biologics' Sustainability page.