#China #Shanghai #SBTi #Net-Zero #WuXi Biologics

WuXi Biologics Advances Climate Goals with SBTi Approval

WuXi Biologics (stock code 2269.HK), a frontrunner in the global Contract Research, Development, and Manufacturing Organization (CRDMO) sector, has made headlines by receiving approval for its near-term and net-zero greenhouse gas (GHG) reduction targets from the Science Based Targets initiative (SBTi). This achievement highlights the company's commitment to sustainability and positions it as one of the pioneering firms in the industry to secure SBTi's endorsement.

The SBTi is a corporate climate action platform that empowers businesses and financial institutions globally to mitigate climate change through scientifically backed targets for reducing emissions. WuXi Biologics joins an elite group of companies actively working towards ambitious climate goals, aligning its strategies with the most rigorous standards set forth by SBTi.

Since 2021, WuXi Biologics has implemented a comprehensive sustainability strategy aimed at minimizing its carbon footprint. This initiative began with setting a GHG emission intensity reduction target, followed by an operational net-zero target established in 2022, and the recent inclusion of even bolder targets. As a part of its newly approved SBTi target matrix, WuXi Biologics is committed to achieving net-zero GHG emissions across its entire value chain by 2050.

Key Targets of WuXi Biologics

WuXi Biologics has laid out both near-term and long-term targets:

• - Near-Term Goals: Aiming for a 58.8% reduction in absolute scope 1 and 2 GHG emissions by 2034 compared to a 2024 baseline. Moreover, the company plans to cut scope 3 emissions by 63.8% per kg of product produced within the same period.
• - Long-Term Goals: Targeting a staggering 90% reduction in absolute scope 1 and 2 emissions by 2050, alongside a similar goal for scope 3 emissions, which encompasses a wide array of sources from purchased goods to employee commuting.

Dr. Chris Chen, the CEO of WuXi Biologics and Chairman of its Environmental, Social and Governance (ESG) Committee, expressed pride in the company’s progress. He stated, "Receiving SBTi approval is a significant acknowledgment that energizes our commitment to tackling climate change. As leaders in Green CRDMO, we strive for excellence in ESG and collaborate with partners globally to implement responsible practices."

WuXi Biologics further enhances its sustainability credentials through engaging with its suppliers on sustainable supply chain management. This effort not only supports the company’s climate targets but also amplifies positive outcomes across its entire value network.

Recognition and Commitment

WuXi Biologics has gained considerable recognition for its proactive stance on sustainability. The company has achieved an MSCI AAA Rating, earned an EcoVadis Platinum Medal, and has been listed in both the Dow Jones Sustainability Indices and the CDP Water Security "A List". Furthermore, for two consecutive years, it has received a leadership-level 'A-' score from CDP Climate Change.
Given these accolades, WuXi Biologics has positioned itself as a sustainability leader within the biopharmaceutical sector. The organization is also a proud participant in the United Nations Global Compact (UNGC) and the Pharmaceutical Supply Chain Initiative (PSCI), advocating for sustainable industry practices.

WuXi Biologics' Drive for a Sustainable Future

With a workforce exceeding 12,000 globally and active operations in key markets including China, the United States, Germany, and Singapore, WuXi Biologics leverages its technical expertise to ensure efficient biologics development and manufacturing solutions. The company actively supports 864 integrated client projects, signifying its extensive capabilities in the realm of biologics manufacturing.

WuXi Biologicsview sustainability as a critical component in fostering long-term business growth. By continuously pushing forward innovative green technologies, the firm aims to provide advanced CRDMO solutions that prioritize environmental care. Their commitment to creating shared value and fostering responsible practices inspires a holistic approach that benefits all stakeholders.

Conclusion

As WuXi Biologics strides confidently toward its ambitious sustainability goals, the company exemplifies how corporate responsibility can harmoniously align with business strategy. The approval of its targets by SBTi serves not only as recognition of its efforts but also as a driving force for other organizations aiming to integrate eco-friendly practices into their operations. WuXi Biologics continues to showcase that leadership in the CRDMO sector can lead to healthier outcomes for both people and the planet, paving the way for a more sustainable future.