Samsung Biologics, a prominent global contract development and manufacturing organization (CDMO), hosted its inaugural Suppliers ESG Day at its Songdo headquarters and online, marking a significant step toward sharing environmental, social, and governance (ESG) strategies and fostering collective efforts for decarbonization.
The event brought together supplier companies and external ESG specialists to engage in discussions on ESG-related requirements, recommendations, and successful case studies.
To minimize potential social and ethical risks, establish a stable network, and implement green strategies for decarbonization, Samsung Biologics has been actively conducting ESG assessments with its suppliers. Earlier this year, the company, along with members of the Sustainable Markets Initiative’s Health Systems Task Force—a public-private partnership launched at COP26 to expedite the decarbonization of health systems—urged suppliers to commit to joint minimum climate and sustainability targets. These targets aim to address emissions throughout the value chain and simplify the complexity of multiple requirements.
The company has also released its second report aligned with the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). This report underscores Samsung Biologics' dedication to transparency in managing climate-related risks and opportunities across its business.
Key highlights from the 2023 report include:
- Setting new milestones to achieve net-zero emissions by 2050 and engaging suppliers to reduce their direct emissions.
- Prioritizing Samsung Biologics’ sustainable leadership as an active member of the Sustainable Markets Initiative and as the first CDMO to receive the SMI’s Terra Carta Seal.
- Joining the Sustainable Aviation Buyers Alliance to contribute to emissions reduction through investments in Sustainable Aviation Fuel.
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