Biocon’s S&P Global ESG Score Improves to 69 for 2024

Biocon Biologics Debuts with S&P Global ESG Score of 53

Bengaluru, Karnataka, India, January 27, 2025

Biocon Limited (BSE code: 532523, NSE: BIOCON), an innovation-led global biopharmaceuticals company, today announced its Environmental, Social and Governance (ESG) scores as assessed by S&P Global’s Corporate Sustainability Assessment (CSA) for 2024. Biocon achieved a notable improvement with an S&P Global ESG Score of 69 in 2024, up 6 points from 63 in 2023. This places the Company in the 98th percentile among its global biotechnology industry peers. Biocon achieved an ESG Score of 76 in the Environmental Dimension, 74 in the Social Dimension, and 62 in the Governance & Economic Dimension.

Biocon’s subsidiary Biocon Biologics Limited, which also participated independently in the assessment for the first time, reported an S&P Global ESG Score core of 53.

The S&P Global ESG Score measures a company’s performance on and management of material ESG risks, opportunities, and impacts informed by a combination of company disclosures, media and stakeholder analysis, modelling approaches, and in-depth company engagement via the S&P Global CSA. The assessment serves as a crucial reference for stakeholders in making informed business and investment decisions.

Siddharth Mittal, CEO & Managing Director, Biocon Limited, said: “The 6-point increase in Biocon’s S&P Global ESG score to 69 for 2024 is a testament to our efforts in embedding sustainable practices throughout our operations. As part of Biocon’s comprehensive ESG strategy, we have set definitive targets for reducing GHG emissions and freshwater consumption, as well as increasing circular economy waste management. Achieving these goals is one of our most important corporate priorities.”

Shreehas Tambe, CEO & Managing Director, Biocon Biologics Limited, said: “As a purpose-driven organization, ESG is at the foundation of what we do and guides our business practices. I am proud to share that we achieved an ESG score of 53 in the first year that Biocon Biologics participated independently in the S&P Global Corporate Sustainability Assessment. We are actively working to minimize the environmental impact of our business while expanding access to lifesaving medicines for patients and are committed to upholding the highest standards of governance.”

Building upon its robust ESG governance structure, Biocon has consistently integrated sustainability principles into its strategic development and daily operations. The latest S&P Global scores reflect the Company’s progress across all three ESG dimensions. In the Environmental Dimension, Biocon improved its score to 76 from 69, demonstrating strong performance in environmental policy and management, energy efficiency, and water management. The Company bettered its Social Dimension score to 74 in 2024 from 62 in 2023 due to notable progress in human capital management practices. Biocon scored 62 in the Governance & Economic Dimension, showcasing its commitment to ethical business practices and transparency & reporting.

Biocon’s commitment to transparency is evidenced by its high data availability, with 90% of required disclosures and 97% of additional disclosures made available to S&P Global. This level of transparency underscores the Company’s dedication to open and ethical business practices.

The assessment identified Social Dimension, Human Capital Management, and Corporate Governance as among the most material drivers of Biocon’s performance.

About Biocon

Biocon Limited, publicly listed in 2004, (BSE code: 532523, NSE Id: BIOCON, ISIN Id: INE376G01013) is an innovation-led global biopharmaceuticals company committed to enhance affordable access to complex therapies for chronic conditions like diabetes, cancer and autoimmune. It has developed and commercialized novel biologics, biosimilars, and complex small molecule APIs in India and several key global markets as well as Generic Formulations in the US, Europe & key emerging markets. It also has a pipeline of promising novel assets in immunotherapy under development.

Website: www.biocon.com; Follow-us on X (formerly Twitter): @bioconlimited and LinkedIn: Biocon for company updates.

Biocon Biologics Limited, a subsidiary of Biocon Limited, is a unique, fully integrated, global biosimilars company committed to transforming healthcare and transforming lives. It is capitalizing on its ‘lab to market’ capabilities to serve millions of patients across 120+ countries by enabling affordable access to high quality biosimilars. The Company is leveraging cutting-edge science, innovative tech platforms, global scale manufacturing capabilities and world-class quality systems to lower costs of biological therapeutics while improving healthcare outcomes. Biocon Biologics has commercialized eight biosimilars in key emerging markets and advanced markets like U.S., Europe, Australia, Canada, and Japan. It has a pipeline of 20 biosimilar assets across diabetology, oncology, immunology, ophthalmology, and other non-communicable diseases. The Company has many ‘firsts’ to its credit in the biosimilars industry. As part of its environmental, social and governance (ESG) commitment, it is advancing the health of patients, people, and the planet to achieve key UN Sustainable Development Goals (SDGs).

Website: www.bioconbiologics.com; Follow us on X (formerly Twitter): @BioconBiologics and LinkedIn: Biocon Biologics for company updates.