Innovent Launches Environmental, Social and Governance (ESG) Website to Advance Sustainability and Corporate Responsibility
SAN FRANCISCO and SUZHOU, China, July 8, 2024 /PRNewswire/ -- Environmental, Social and Governance (ESG) criteria are key indicators of a company's long-term sustainability. Innovent Biologics has been actively addressing the United Nations' Sustainable Development Goals (SDGs) and recently launched its official ESG website, underscoring the company's firm commitment to sustainable development, corporate responsibility and ethical business practices. The platform highlights Innovent's comprehensive progress and notable achievements in governance, spreading good health, high-quality assurance, employee empowerment and ecological stewardship. By taking proactive measures, Innovent aims to lead the pharmaceutical industry toward a greener and more responsible future.
The newly unveiled ESG website serves as a comprehensive platform to display the company's initiatives, policies and performance across key ESG focus areas, including:
- Execllent Governance: Innovent's transparent corporate governance structure, ethical business conduct, compliance with regulations, efficient business operations and robust risk management form the foundation of its business practices.
- Enjoying Good Health: Innovent's commitment to innovative drug development includes building strong portfolios in oncology and general biomedicine and expanding its global pipeline to include 36 innovative assets. The company has successfully launched 10 innovative products, 5 of which have been included in the National Reimbursement Drug List (NRDL), benefiting more than 2.5 million patients. Innovent prioritizes inclusive healthcare and fulfills social responsibilities by launching patient assistance programs aimed at improving medicine accessibility and affordability.
- Ensuring High-Quality Products: Innovent prioritizes the quality and safety of its pharmaceutical products, maintaining a robust quality management system that meets global standards throughout its products' life cycles. 140,000 liters of production capacity have been put into operation to ensure that products meet high-quality standards throughout their lifecycle. The company's commitment extends to manufacturing excellence, operational efficiency and a sustainable supply chain. In marketing efforts, Innovent responsibly protects patient rights and privacy.
- Empowering Employees: Innovent is dedicated to fostering a safe, diverse, fair, inclusive and respectful work environment with various opportunities for advancement and professional development, supported by a comprehensive remuneration system and employee care initiatives. In 2023, Innovent had a workforce comprised of over 50% self-identified female employees and attained an employee satisfaction rate of over 98%.
- Embracing Ecology: Innovent's efforts to spearhead green development include optimizing its environmental management system and securing ISO14001 certification for all production sites. In 2023, it implemented extensive environmental production programs, set climate targets and established strategies to address climate change proactively.
The company holds an ESG rating of 'A' from Morgan Stanley Capital International (MSCI), placing it among the leaders in the biotechnology industry.
Through the ESG website, stakeholders, including investors, partners, employees, consumers and community members, can access detailed information about Innovent's ESG performance, goals and progress reports.
Dr. Michael Yu, Founder, Chairman and CEO of Innovent, said: "As a world-class biopharmaceutical company, Innovent is committed to integrating ESG principles into our business practices. The launch of our ESG website emphasizes our commitment to transparency, accountability and sustainability. It details our efforts to uphold transparent and responsible governance, build a strong portfolio of oncology and general biomedicine assets, maintain high quality throughout our supply chain, support our employees, and integrate ecological and sustainable practices. We believe that by prioritizing these key ESG areas, we can create long-term value for our stakeholders while contributing to a more sustainable future."
In addition to the ESG website launch, the company reaffirms its commitment to continuous improvement and accountability in ESG performance. The company remains dedicated to implementing initiatives that positively impact society, the environment and governance practices.
For more information about Innovent's ESG initiatives and to explore the new ESG website, please visit https://www.innoventbio.com/ESG.
SOURCE Innovent Biologics
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