Biocon awarded a Silver Medal by EcoVadis for its Sustainability Accomplishments

Biocon Ltd, an innovation-led, fully integrated global biopharmaceuticals company, today announced that it has been awarded a Silver medal by EcoVadis, the world's most trusted provider of business sustainability ratings, for its continued commitment to improving sustainability across business operations in Biocon and Biocon Biologics.

The Silver medal puts Biocon in the top 25% of the 40,000 companies assessed by EcoVadis in 2022. Biocon, including Biocon Biologics, received a score of 66 on EcoVadis' 2022 scorecard, putting it in 89th percentile, which is a significant improvement from the 2021 score of 52 that placed the company in 62nd percentile last year. For the year 2022, Biocon bettered its score in all the four EcoVadis themes - Environment (70), Labor & Human Rights (70), Ethics (60) and Sustainable Procurement (60) for the year 2022. Among these, the highest improvement came in Environment and Sustainable Procurement scores.

Kiran Mazumdar-Shaw, Executive Chairperson, Biocon and Biocon Biologics, said: "The Silver Medal from EcoVadis highlights Biocon's continuous progress and commitment towards excellence in Environmental, Social and Governance (ESG) practices. ESG is at the core of our business purpose and responsibility. As a company committed to achieving sustainable growth with positive social and environmental impacts, we are continually adopting global best practices to drive positive change by demonstrating conscious capitalism, environmental stewardship, talent diversity and globally benchmarked standards of governance."

The EcoVadis score reflects the quality of the company's sustainability management system at the time of the assessment.

EcoVadis' methodology is built on international sustainability standards, including the Global Reporting Initiative, the United Nations Global Compact, and ISO 26000. The EcoVadis award is a recognized and reliable global business sustainability rating.

While announcing the scorecard and the silver medal, EcoVadis also said it would plant a tree on Biocon's behalf through its partnership with One Tree Planted.

Sustainability is integral to Biocon's business purpose, and the Company has a clear Environmental, Social and Governance (ESG) strategy that is implemented across Biocon and Biocon Biologics.

EcoVadis is reporting on the sustainable business practices being adopted by the 100,000+ companies with a sustainability rating in its network and the key metrics quantifying the positive social and environmental outcomes of these efforts. Validated by a global team of experts, EcoVadis' evidence-based ratings are adapted to more than 200 industry categories, 175 countries, and companies of all sizes. Its scorecards provide benchmarks, insights, and a guided improvement journey for environmental, social, and ethical practices.

Biocon, which includes Biocon Biologics, is among thousands of global companies that collaborate with EcoVadis to assess and improve their sustainability performance and benchmark their sustainability achievements against other companies.

Shares of Biocon Limited was last trading in BSE at Rs. 206.35 as compared to the previous close of Rs. 201.45. The total number of shares traded during the day was 120545 in over 2044 trades.

The stock hit an intraday high of Rs. 208.20 and intraday low of 202.20. The net turnover during the day was Rs. 24784916.00.

Source : Equity Bulls

Keywords

Biocon INE376G01013 BioconBiologics EcoVadis SilverMedal