Biocon’s S&P Global ESG Score improves to 69 for 2024
Biocon’s subsidiary Biocon Biologics, which also participated independently in the assessment for the first time, reported an S&P Global ESG Score of 53
Biocon announced its Environmental, Social and Governance (ESG) scores as assessed by S&P Global’s Corporate Sustainability Assessment (CSA) for 2024. Biocon achieved an 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 and Economic Dimension.
Biocon’s subsidiary Biocon Biologics, which also participated independently in the assessment for the first time, reported an S&P Global ESG Score 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.
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 and Economic Dimension.
Biocon provides 90 per cent of required disclosures and 97 per cent of additional disclosures made available to S&P Global.
The assessment identified social dimension, human capital management, and corporate governance as among the most material drivers of Biocon’s performance.