Bengaluru, Karnataka, February 20, 2024: Biocon Limited announced its inclusion in S&P’s Sustainability Yearbook 2024 for the second consecutive year, based on the S&P Global Corporate Sustainability Assessment (CSA) of Biocon and Biocon Biologics Limited for 2023.
Biocon’s S&P Global ESG score improved to 63 from 52 previously, placing it among the Top 10 global biotechnology companies assessed.
Kiran Mazumdar Shaw, Chairperson, Biocon & Biocon Biologics, said, “We are pleased to be recognized by S&P Global for our robust sustainable business practices. As a responsible corporate citizen, we are implementing a comprehensive ESG strategy across Biocon Group in line with our philosophy of Unconditional Equity. We are continuously striving to enable Patient Equity, People Equity, Environmental Equity, Stakeholder Equity and Social Equity.”
The S&P Global CSA enables companies to report key sustainability metrics and benchmark their performance. Biocon's inclusion in the Dow Jones Sustainability Emerging Markets Index for the third consecutive year underscores its sustainability leadership among the top 10% of Emerging Markets companies.
Biocon's focus on sustainability has contributed to improvements in its ratings across global indices. In the Environmental Dimension, Biocon achieved a strong score of 69, surpassing the industry mean. In the Social Dimension, it attained a score of 62, well ahead of the mean. Additionally, in the Governance & Economic Dimension, Biocon achieved a score of 62, exceeding the mean.
This year, S&P’s CSA covered 62 industries, 9,400 companies, 174,000 documents, and 16.5 million data points. Inclusion in the Yearbook requires companies to score within the top 15% of their industry and achieve an S&P Global Sustainability Score within 30% of their industry’s top-performing company.
