WuXi Biologics, a prominent global Contract Research, Development, and Manufacturing Organization (CRDMO), has released its 2023 Environmental, Social, and Governance (ESG) Report, showcasing significant advancements in sustainable development.
Aligned with its vision and mission, WuXi Biologics’ ESG strategy is deeply ingrained in its global operations. In 2023, the company underscored its commitment to sustainability by joining the United Nations (UN) Global Compact. Its substantial progress in ESG initiatives was acknowledged by major rating agencies, including being added to the S&P Dow Jones Sustainability™ World Index and Emerging Markets Index, receiving a “AAA” rating from MSCI ESG Ratings, earning the prestigious Platinum Medal from EcoVadis, being recognized as an Industry and Regional Top-Rated Company by Sustainalytics, making the CDP Water Security “A list,” and achieving an “A-” CDP Climate Change score.
Dr. Chris Chen, CEO and ESG Committee Chairman of WuXi Biologics, emphasized the company’s dedication to sustainability, stating, “As a participant of the UN Global Compact, the world’s largest corporate sustainability initiative, WuXi Biologics regards sustainability as the cornerstone of its business development strategy.” Despite industry challenges in 2023, the company maintained sustainable growth momentum through its unique CRDMO business model, reaffirming its commitment to positive social and environmental impacts across the value chain in collaboration with global clients.
The ESG report provides transparent insights into WuXi Biologics’ strategy and progress on key initiatives impacting its workforce, partners, communities, and the environment.
Corporate Governance Enhancement:
WuXi Biologics has established robust governance mechanisms guided by its ESG strategy. These include oversight by the Board-level ESG Committee, guidance from the company’s ESG Steering Group, and efficient implementation by dedicated ESG departments and cross-functional task forces. The company upholds a zero-tolerance policy towards unethical behaviors and adheres to the highest standards of integrity and business ethics. In 2023, an Ethics and Compliance Committee was formed to strengthen compliance management efforts.
Climate Change Mitigation:
Recognizing the imperative of environmental sustainability, WuXi Biologics committed to the Science Based Targets initiative (SBTi) in 2023, marking a significant milestone in its Net-Zero journey. The company made substantial progress in reducing carbon emissions, achieving a 29% intensity reduction of Scope 1 and Scope 2 greenhouse gas emissions compared to the base year 2020. Additionally, WuXi Biologics surpassed its water consumption intensity reduction target ahead of schedule and elevated its target to a 30% reduction by 2025 compared to the base year 2019.
Sustainable Value Chain Promotion:
WuXi Biologics prioritizes transparent dialogue and strong connections with stakeholders. The company collaborates with supply chain partners who uphold ethical standards and integrates environmental and social sustainability into its supplier management system. Through admission screening, regular assessments, audits, and training initiatives, WuXi Biologics aims to drive best practices and positive impacts across its value chain.
Diversity, Equity, and Inclusion (DEI) Advancement:
The success of WuXi Biologics is attributed to its diverse workforce. In 2023, the company established a Diversity, Equity, and Inclusion (DEI) Committee to formulate and oversee DEI strategies. Emphasizing the career development of women in STEM fields, WuXi Biologics surpasses industry averages, with 53% of STEM positions held by female employees.
Corporate Social Responsibility (CSR) Initiatives:
Community engagement is integral to WuXi Biologics’ social responsibility efforts. In 2023, over 8,000 employee volunteer hours were logged. The company utilizes its core competencies to benefit patients globally, with ongoing rare disease projects and the facilitation of innovative therapies like the approval of a Pompe disease therapy in multiple regions. WuXi Biologics launched the “Run for Health” initiative, supported by over 1,500 employee volunteers globally, to raise scholarship funds for students with rare diseases.
Green CRDMO Solutions:
WuXi Biologics integrates ESG principles into its innovative technology platforms to offer end-to-end green CRDMO solutions. Leveraging Lean Management processes and completing over 150 Kaizen projects, the company has improved operational efficiency and reduced resource consumption.
Dr. Chen expressed pride in the company’s ESG achievements, emphasizing their positive impact on communities. Looking ahead to 2024, WuXi Biologics remains committed to integrating sustainability into its core business, enabling global clients to deliver life-changing treatments worldwide.
