PISCATAWAY, N.J., Oct. 11, 2024 /PRNewswire/ -- GenScript Biotech Corporation has recently been upgraded to an A rating in its Environmental, Social, and Governance (ESG) score by MSCI, a globally recognized rating agency. This upgrade reflects GenScript's unwavering commitment to integrating sustainability, environmental responsibility, and social values into its business strategy.
MSCI, one of the world's largest index providers, evaluates thousands of companies annually on their ESG performance and risk management capabilities relative to peers. The ESG ratings it publishes are highly regarded by global capital markets. This upgrade underscores MSCI's recognition of GenScript's significant progress and ongoing efforts in ESG management over the past year.
As a world leader in technologies and services for life science R&D and manufacture, GenScript is dedicated to advancing scientific discovery and breakthrough therapies. In recent years, the company has taken proactive steps to enhance its ESG management, focusing on corporate governance improvements, strengthening product safety and quality oversight, increasing R&D investments, driving technological innovation, and optimizing human resources and environmental protection.
GenScript's Board of Directors places great emphasis on ESG efforts, establishing a dedicated ESG management team and implementing comprehensive ESG policies. The company integrates these principles into its strategic planning, operations, and business processes. Furthermore, through collaborations with top research institutions and partners globally, GenScript continues to drive innovation in biotechnology, providing patients with more advanced, efficient, and personalized treatment solutions.
"The A rating from MSCI is a significant recognition of our improvement in ESG performance," said Sherry Shao, Rotating CEO of GenScript. "We believe that integrating ESG principles into our operations improves our business resilience and positions us for long-term success. We will continue to strive for excellence in all areas of ESG, delivering more value to our global business partners, investors and other stakeholders."
In recent years, GenScript has made significant strides in ESG. In 2023, the company officially joined the United Nations Global Compact (UNGC), pledging to follow its ten principles and actively fulfill its corporate social responsibility to promote sustainable development. In 2024, GenScript took it a step further by joining the Science Based Targets initiative (SBTi) and submitting its carbon reduction targets, demonstrating its commitment to addressing global climate change and achieving carbon neutrality. Additionally, GenScript received a bronze rating from the EcoVadis Corporate Social Responsibility assessment, highlighting its high standards in supply chain management, workplace environment, human rights, and sustainability.
"GenScript is committed to applying advanced systems engineering and operations research methods to continuously reduce our carbon footprint and environmental impact in accordance with Science Based Targets and best practices in the biotech industry," said Ernest Lee, P.E., Head of Sustainability at GenScript. "Our overall ESG achievements and performance to date have been exciting and we look forward to sustained ESG innovation and improvement."
GenScript will leverage this momentum to deepen its ESG management and continuously enhance its ESG performance. The company will also keep a close eye on global ESG trends, continuously innovate, and refine its ESG management system, with a mission to "Make People and Nature Healthier Through Biotechnology."
About GenScript Biotech Corporation
GenScript Biotech Corporation (HK.1548) is a world leader in technologies and services for life science R&D and manufacture. Built upon its solid DNA synthesis technology, the company comprises four major business units: a life-science services and products business unit, a biologics contract development and manufacturing organization (CDMO) business unit, an industrial synthetic products business unit, and an integrated global cell therapy company. GenScript accelerates scientific discovery and therapeutic breakthrough with its customers. Since its founding in New Jersey, USA in 2002, GenScript has expanded its operations to serve more than 200,000 customers across 100 countries with a dedicated team of 7,200 employees. As of June 30, 2024, over 100,000 peer-reviewed journal articles worldwide had cited GenScript 's services and products. Guided by its mission to make people and nature healthier through biotechnology, GenScript strives to become the most trustworthy biotech company in the world.
For more information, please visit GenScript Biotech's official website