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GenScript Biotech's 2024 ESG Report: A Commitment to Sustainability

GenScript Biotech Corporation, a frontrunner in life sciences research and manufacturing, recently published its 2024 Environmental, Social, and Governance (ESG) report. The report represents a significant step in demonstrating the company's dedication to sustainable practices across various domains, including environmental management, social responsibility, and corporate governance. The document outlines numerous initiatives taken by GenScript over the past year, emphasizing their role in fostering long-term value creation in the biotech sector.

Sherry Shao, the Rotating CEO of GenScript, remarked, "In 2024, we continued to embed sustainability into the fabric of our operations and strategic vision. Through innovative approaches and collaborative efforts, we have made notable advancements in responsible business practices. We are eager to partner with global stakeholders to build a more sustainable future."

Key Highlights of GenScript's ESG Strategy

1. Environmental Management and Climate Action

One of the most pressing issues of our time is climate change, and GenScript is actively engaging in the fight against it. The company has joined the Science Based Targets initiative (SBTi), allowing it to set specific, measurable objectives aimed at reducing greenhouse gas emissions. This commitment is further demonstrated through various energy-saving measures and the transitioning to renewable energy sources. Major upgrades to both operational processes and equipment are part of this ambitious plan, with the ultimate goal of achieving net-zero emissions by 2050. The SBTi has already validated GenScript's climate targets as of early 2025, marking a crucial milestone in its sustainability journey.

2. Sustainable Supply Chain Management

In alignment with its sustainability goals, GenScript has taken significant steps to ensure transparency within its supply chain. As a participant in the Pharmaceutical Supply Chain Initiative (PSCI), the company imposes stringent ethical, environmental, and safety standards on its suppliers. This commitment to responsible supply chain management aims to enhance resilience while ensuring compliance with a variety of organizational principles. By embedding these PSCI standards into their supplier evaluation frameworks, GenScript stresses the importance of sustainability throughout its supply chain.

3. Employee Development and Well-being

With a diverse workforce of approximately 5,568 individuals, GenScript emphasizes the importance of an equitable and inclusive work environment. The organization offers competitive remuneration packages, along with extensive training programs aimed at skill enhancement and career advancement. It is through these initiatives that GenScript aspires to cultivate a pool of high-potential talent, crucial for driving the company's long-term growth.

4. Community Engagement

GenScript understands the importance of corporate social responsibility and has designed various programs that align with its core values. The company is actively involved in charitable initiatives focusing on health, education, and environmental sustainability. In 2024 alone, the employees contributed more than 1,400 hours of volunteer service through the GenTeer platform, showcasing their commitment to giving back to the community. Furthermore, the organization utilizes its research and development expertise to foster collaboration within the industry. By facilitating global forums, GenScript aims to accelerate the development of innovative therapies that benefit patients globally.

Recognition and Future Commitments

GenScript's sustainability initiatives have garnered international acclaim. The company received a bronze medal from EcoVadis, indicating substantial improvement in its ESG performance. Additionally, it obtained an 'A' rating from MSCI and a 'B' rating for its Climate Change strategy from CDP. These accolades reinforce the company's ongoing mission to “Make People and Nature Healthier Through Biotechnology.”

As we look ahead, GenScript remains steadfast in its commitment to driving innovation while fostering sustainable growth within the global biotech sector. To read the full 2024 ESG report and learn more about these initiatives, visit the GenScript website.

Founded in 2002 in New Jersey, GenScript has been dedicated to enabling biotechnology advancements globally. With a vast workforce and experience serving over 200,000 clients across 100 countries, GenScript continues to be a trusted leader in the biotech segment.