WuXi Biologics Again Selected as Constituent of FTSE4Good Index Series

Rhea-AI Summary

WuXi Biologics (2269.HK) has been recognized as a constituent of the FTSE4Good Index Series, affirming its commitment to strong Environmental, Social, and Governance (ESG) practices. This inclusion highlights improvements in WuXi's ESG score, particularly in its GHG emissions intensity, which it aims to reduce by 50% by 2030 from 2020 levels. The company promotes renewable energy and collaborates with partners for sustainability. CEO Chris Chen emphasized their dedication to responsible corporate development aligned with global sustainability goals.

Positive

• Inclusion in the FTSE4Good Index Series, marking recognition for strong ESG practices.
• Significant improvement in overall ESG score and each ESG pillar score.
• Commitment to reducing Scope 1 and Scope 2 GHG emissions intensity by 50% by 2030.
• Implementation of renewable energy projects across multiple China sites.

Negative

• None.

SHANGHAI, Aug. 16, 2022 /PRNewswire/ -- WuXi Biologics ("WuXi Bio") (2269.HK), a global leading Contract Research, Development and Manufacturing Organization (CRDMO), announced today that it has once again been selected as a constituent of the FTSE4Good Index Series, and is the only healthcare-sector company among the top 10 constituents in the emerging market category.

Created by the global index and data provider FTSE Russell, which is wholly owned by the London Stock Exchange Group, the FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong Environmental, Social, and Governance (ESG) practices. Inclusion in the FTSE4Good Index Series is based on independent analysis of data from over 7,200 securities in 47 developed and emerging markets. This year, WuXi Biologics significantly improved its overall ESG score, as well as its score on each of the three ESG pillars.

Among the ESG efforts, WuXi Biologics has undertaken a firm commitment to decarbonization and a goal of reducing Scope 1 and Scope 2 GHG emissions intensity by 50% by 2030 from a 2020 base year. The company decreased its GHG emissions intensity significantly over the last three years, while also continuously improving its overall energy efficiency. In 2022, WuXi Biologics rolled out projects for promotion of renewable energy - such as solar power - throughout multiple China sites and has worked methodically to implement programs to reduce its environmental footprint at all its global sites. In addition, WuXi Biologics is also committed to driving green upgrades at all levels of its supply chain. The company is collaborating with its strategic supply chain partners to identify opportunities for accelerating efforts in support of long-term sustainability goals.

"We are very pleased that WuXi Biologics has once again been recognized for inclusion in the FTSE4Good Index Series," said Chris Chen, CEO of WuXi Biologics. "ESG is regarded as the cornerstone of our sustainable corporate development - aligning directly with our vision and mission – and we take great pride in being responsible stewards of the global environment, while working with global partners to promote sustainable development worldwide. We are committed to delivering a stronger ESG performance for all stakeholders and for the greater good of society."

About WuXi Biologics

WuXi Biologics (stock code: 2269.HK) is a global leading Contract Research, Development and Manufacturing Organization (CRDMO) offering end-to-end solutions that enable partners to discover, develop and manufacture biologics from concept to commercialization for the benefit of patients worldwide.

With over 10,000 skilled employees in China, the United States, Ireland, Germany and Singapore, WuXi Biologics leverages its technologies and expertise to provide customers with efficient and cost-effective biologics discovery, development and manufacturing solutions. As of April 30, 2022, WuXi Biologics is supporting 526 integrated client projects, including nine in commercial manufacturing.

WuXi Biologics views Environmental, Social, and Governance (ESG) responsibilities as an integral component of our ethos and business strategy, and we aim to become an ESG leader in the biologics CRDMO sector. Our facilities use next-generation biomanufacturing technologies and clean energy sources. We have also established an ESG committee led by our CEO to steer the comprehensive ESG strategy and its implementation, enhancing our commitment to sustainability. For more information about WuXi Biologics, please visit: www.wuxibiologics.com.

Contacts

Media
PR@wuxibiologics.com

ESG
esg@wuxibiologics.com

 

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SOURCE WuXi Biologics

FAQ

What does WuXi Biologics' inclusion in the FTSE4Good Index Series mean for investors?

Inclusion signifies recognition of WuXi Biologics' strong ESG practices, which can attract socially responsible investors.

How is WuXi Biologics improving its ESG score?

WuXi Biologics has improved its ESG score by undertaking initiatives like reducing GHG emissions intensity and promoting renewable energy.

What are WuXi Biologics' goals for GHG emissions intensity?

WuXi Biologics aims to reduce Scope 1 and Scope 2 GHG emissions intensity by 50% by 2030.

When was WuXi Biologics' announcement about the FTSE4Good Index made?

The announcement was made on August 16, 2022.

What is the stock symbol for WuXi Biologics?

The stock symbol for WuXi Biologics is 2269.HK.