GenScript Biotech Achieves Sustainability Recognition Again

GenScript Biotech Celebrates Sustainability Excellence

GenScript Biotech Corporation, a leader in life sciences and biotechnology, has proudly earned the EcoVadis Bronze Medal for a second consecutive year. This prestigious award is a testament to the company's commitment to sustainability and responsible business practices. By achieving this recognition, GenScript reflects a strong dedication to environmental stewardship, ethics, labor and human rights, and sustainable procurement.

Impressive Rankings in Sustainability

This year, GenScript positioned itself above 83% of companies assessed by EcoVadis. The company has particularly excelled in the manufacture of basic pharmaceutical products and pharmaceutical preparations, placing within the top 10% of its industry. This advancement highlights GenScript's ongoing efforts and commitment to improving its sustainability performance.

A Message from Leadership

Sherry Shao, the Rotating CEO of GenScript Biotech Corporation, remarked on the accomplishment, stating, "Receiving the EcoVadis Bronze Medal for the second consecutive year is a proud moment for us. This significant improvement showcases our commitment to sustainability and our focus on ethical business practices. We view sustainability not just as a target, but as an integral aspect of our mission to enhance health and well-being through biotechnology. By refining our operations and working alongside our partners, we are reducing our environmental impact and encouraging ethical standards.”

Commitment to Global Standards

EcoVadis is an internationally acknowledged sustainability rating platform that assesses companies based on crucial global standards. It includes frameworks such as the Global Reporting Initiative (GRI), the United Nations Global Compact (UNGC), and ISO 26000. With evaluations spanning over 220 industries across more than 180 countries, EcoVadis measures corporate sustainability practices regarding environmental impact, labor and human rights, business ethics, and sustainable procurement.

Broader Recognition of Sustainability Efforts

Besides the EcoVadis award, GenScript's commitment to sustainability has garnered acknowledgment internationally. The company joined the United Nations Global Compact (UNGC), endorsing the Ten Principles regarding human rights, labor practices, environmental protection, and anti-corruption measures. Furthermore, GenScript and its subsidiary, ProBio, are now part of the Pharmaceutical Supply Chain Initiative (PSCI), enhancing their sustainability commitments in creating an ethical and environmentally friendly pharmaceutical supply chain.

Improvements in ESG Ratings

GenScript’s environmental, social, and governance (ESG) initiatives have also been recognized by capital markets, as evidenced by its MSCI ESG rating upgrade from BBB to A. This increase reflects GenScript's strong ESG performance and commitment to sustainability. Moreover, GenScript's carbon reduction goals were officially validated by the Science Based Targets initiative (SBTi), marking a significant step in its decarbonization journey.

Future Directions Towards Sustainability

As GenScript moves forward, the company remains committed to integrating sustainability into its core operations. They focus on innovation and collaboration to enhance the long-term health of not just society but the planet as a whole. This forward-thinking approach ensures that GenScript continues to contribute positively to the global life sciences ecosystem.

About GenScript Biotech Corporation

Established in 2002, GenScript Biotech Corporation operates with the mission to enhance health and well-being through biotechnology. The company provides essential tools and services to researchers and organizations seeking to develop pioneering treatments and products. With a global presence and a dedicated team of over 5,500 employees, GenScript has served more than 200,000 clients in over 100 countries, reinforcing its stature as a trusted leader in the life sciences sector.

Frequently Asked Questions

What recognition did GenScript Biotech receive?

GenScript Biotech earned the EcoVadis Bronze Medal for sustainability performance for the second consecutive year.

How does GenScript rank among its peers?

This year, GenScript ranked above 83% of companies assessed by EcoVadis, indicating strong sustainability practices in its industry.

What is EcoVadis?

EcoVadis is a global sustainability rating platform that analyzes corporate sustainability across various sectors based on major international standards.

What sustainability commitments has GenScript made?

GenScript joined the United Nations Global Compact, supporting principles on human rights, labor, the environment, and anti-corruption, among other commitments.

What improvements have been observed in GenScript's ESG ratings?

GenScript's MSCI ESG rating has improved from BBB to A, demonstrating its enhanced commitment to environmental, social, and governance practices.

About The Author

Hello Kelly Martin here, a financial and publicly traded company specialist committed to writing with clarity and sage advice. Having a wealth of experience and a thorough grasp of corporate dynamics and the financial environment, my main goal in writing blog posts and articles is to provide insightful analysis together with useful guidance. My objective is to arm readers with the information they need to comprehend the complexities of publicly traded companies and make wise financial decisions.

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