Cutting health budgets will significantly impact global health Image: Unsplash/National Cancer Institute Dr. Hans KlugeRegional Director, Europe, World Health Organization (WHO) Professor Mario MontiHead of the Pan-European Commission on Health & Sustainable Development, former European Commissioner and former Prime Minister of Italy Stay up to date: Global HealthLicense and Republishing World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use. The views expressed in this article are those of the author alone and not the World Economic Forum. Global Agenda The Agenda WeeklyA weekly update of the most important issues driving the global agenda SubscribeYou can unsubscribe at any time using the link in our emails. For more details, review our privacy policy. Expert Insight | Strategies for a Sustainable Future ESG Series Part I. Climate Action Interview with John Rim, CEO and President of Samsung Biologics
Today, we see that the intersections of health, economy, geopolitics, and social factors are more profound than ever before. With the deepening climate crisis, sustainable business management is indispensable. Samsung Biologics is committed to making sustainability a key component of the way we work and engage with our partners and communities. In our mission to build a healthier future for all while creating enduring and sustainable value, we are investing in practices and technologies to mitigate the risks of climate change in the greater areas we impact. Hear from John Rim, our CEO and President, on the company’s innovation and growth plan to ensure a sustainable future.
We made great progress last year but of course, there’s much more to be done. In February 2021, we established an ESG Committee within the Board of Directors to provide oversight into our sustainable management practices.
Our ESG commitments were also recognized by many global assessors including the DOW Jones Sustainability World Index (DJSI). This is especially significant since this year, 12.7%, or 322 companies of 2,544 evaluated across the globe, have made it to the DJSI World index. Of them, 21 were from Korea. We also became the first Korean biopharmaceutical company to receive the highest rating - Grade A - from the Korea Corporate Governance Service as part of our 2021 ESG Evaluation and Rating report in the areas of environmental management, social responsibility, and governance structure. For sustainable development, we received ISO 22301 (Business Continuity Management System), ISO 45001 (Safety & Health Management System), ISO 14001 (Environment Management System), and ISO 50001 (Energy Management System). This was a great achievement since we are continuously striving to satisfy international and local regulators’ and clients’ requests to minimize environmental impact and ESH risks from our business.
As part of our “Driven. For Life.” mission, we’ve put all our focus around greenhouse gas (GHG) reduction and combatting climate change because of the visible impact it is having on patients and the environment. The healthcare industry is a large source of greenhouse gases, accounting for 4% of global CO2 emissions. The industry produces 2.4Gt of CO2e per year and about 50% of that is created in the upstream supply chain, which corresponds with many biopharma CDMOs’ Scope 3 emissions. For a biopharma company like ours, addressing these supply chain emissions is critical because it accounts for approximately 80% of our total GHG. Therefore, it is vital that we actively work to engage with our suppliers to transition to net-zero emissions in multiple areas and invest in clean energy.
As a member and sole CDMO representative in HRH The Prince of Wales’ Sustainable Markets Initiative (SMI) Health Systems Taskforce, we are working with global biopharmaceutical companies, international institutions, healthcare systems, and policymakers to accelerate the delivery of net-zero, sustainable healthcare to improve individual, societal, and planetary health. Also last year, we joined the Frontier 1.5D project to develop a climate risk management model as part of the 2050 Carbon Neutral Strategy. The Frontier 1.5D project is a global collaborative effort to limit temperature rise to 1.5°C above pre-industrial levels, and we are closely monitoring, identifying, and providing data for each of the biopharmaceutical manufacturing plants through the Carbon Disclosure Project (CDP) initiative. We will determine the risks and opportunities within our business to address climate change and then analyze the financial impact to adjust its response policies in relation to factors such as the reduction of GHG emissions.
The Sustainable Markets Initiative (SMI) was launched by HRH The Prince of Wales at the World Economic Forum in 2020. It aims to lead the transition to a sustainable future by convening leaders to bring economic value into alignment with social and environmental sustainability. Formally convened at COP26 in Glasgow, the SMI Health Systems Taskforce includes 13 leaders from across the healthcare system, with CEOs/equivalents from AstraZeneca, GSK, Merck, Roche, Sanofi, Novo Nordisk, Samsung Biologics, the World Health Organization, UNICEF, NHS England, and the Sustainable Healthcare Coalition.
The Health Systems Taskforce is committed to delivering action in three priority areas through the establishment of Working Groups: digital healthcare, supply chains, and patient care pathways. We are leading the Supply Chains Working Group with the aim to work with suppliers to decarbonize upstream product supply chains, with a focus on renewable energy, clean heat, green logistics, and common supplier standards.
We are seeing an emergence of a wide array of diseases worldwide, leading to an increase in demand for our CDMO services from global clients. With our mission to create a sustainable and enduring value for all, we are continuing to grow based on our three core pillars of our multidimensional growth plan, which includes expanded manufacturing capacity, continued advancements in business portfolio, and a greater global footprint. We are actively looking into implementing more environment-conscious practices and technology across our entire business to become a ‘Green CDMO Partner’.
Driven. For a Sustainable Life. Related Contents Press Release ‘Sustainable CDMO’ Samsung Biologics releases 2022 ESG Report Samsung BIO Insight A Strategic Roadmap for Sustainable Growth - Samsung Biologics at J.P. Morgan Healthcare Conference 2022 Life @ Samsung Biologics Driven. For Climate Action. Expert Insight | Strategies for a Sustainable Future ESG Series Part I. Climate Action Interview with John Rim, CEO and President of Samsung Biologics
Today, we see that the intersections of health, economy, geopolitics, and social factors are more profound than ever before. With the deepening climate crisis, sustainable business management is indispensable. Samsung Biologics is committed to making sustainability a key component of the way we work and engage with our partners and communities. In our mission to build a healthier future for all while creating enduring and sustainable value, we are investing in practices and technologies to mitigate the risks of climate change in the greater areas we impact. Hear from John Rim, our CEO and President, on the company’s innovation and growth plan to ensure a sustainable future.
We made great progress last year but of course, there’s much more to be done. In February 2021, we established an ESG Committee within the Board of Directors to provide oversight into our sustainable management practices.
Our ESG commitments were also recognized by many global assessors including the DOW Jones Sustainability World Index (DJSI). This is especially significant since this year, 12.7%, or 322 companies of 2,544 evaluated across the globe, have made it to the DJSI World index. Of them, 21 were from Korea. We also became the first Korean biopharmaceutical company to receive the highest rating - Grade A - from the Korea Corporate Governance Service as part of our 2021 ESG Evaluation and Rating report in the areas of environmental management, social responsibility, and governance structure. For sustainable development, we received ISO 22301 (Business Continuity Management System), ISO 45001 (Safety & Health Management System), ISO 14001 (Environment Management System), and ISO 50001 (Energy Management System). This was a great achievement since we are continuously striving to satisfy international and local regulators’ and clients’ requests to minimize environmental impact and ESH risks from our business.
As part of our “Driven. For Life.” mission, we’ve put all our focus around greenhouse gas (GHG) reduction and combatting climate change because of the visible impact it is having on patients and the environment. The healthcare industry is a large source of greenhouse gases, accounting for 4% of global CO2 emissions. The industry produces 2.4Gt of CO2e per year and about 50% of that is created in the upstream supply chain, which corresponds with many biopharma CDMOs’ Scope 3 emissions. For a biopharma company like ours, addressing these supply chain emissions is critical because it accounts for approximately 80% of our total GHG. Therefore, it is vital that we actively work to engage with our suppliers to transition to net-zero emissions in multiple areas and invest in clean energy.
As a member and sole CDMO representative in HRH The Prince of Wales’ Sustainable Markets Initiative (SMI) Health Systems Taskforce, we are working with global biopharmaceutical companies, international institutions, healthcare systems, and policymakers to accelerate the delivery of net-zero, sustainable healthcare to improve individual, societal, and planetary health. Also last year, we joined the Frontier 1.5D project to develop a climate risk management model as part of the 2050 Carbon Neutral Strategy. The Frontier 1.5D project is a global collaborative effort to limit temperature rise to 1.5°C above pre-industrial levels, and we are closely monitoring, identifying, and providing data for each of the biopharmaceutical manufacturing plants through the Carbon Disclosure Project (CDP) initiative. We will determine the risks and opportunities within our business to address climate change and then analyze the financial impact to adjust its response policies in relation to factors such as the reduction of GHG emissions.
The Sustainable Markets Initiative (SMI) was launched by HRH The Prince of Wales at the World Economic Forum in 2020. It aims to lead the transition to a sustainable future by convening leaders to bring economic value into alignment with social and environmental sustainability. Formally convened at COP26 in Glasgow, the SMI Health Systems Taskforce includes 13 leaders from across the healthcare system, with CEOs/equivalents from AstraZeneca, GSK, Merck, Roche, Sanofi, Novo Nordisk, Samsung Biologics, the World Health Organization, UNICEF, NHS England, and the Sustainable Healthcare Coalition.
The Health Systems Taskforce is committed to delivering action in three priority areas through the establishment of Working Groups: digital healthcare, supply chains, and patient care pathways. We are leading the Supply Chains Working Group with the aim to work with suppliers to decarbonize upstream product supply chains, with a focus on renewable energy, clean heat, green logistics, and common supplier standards.
We are seeing an emergence of a wide array of diseases worldwide, leading to an increase in demand for our CDMO services from global clients. With our mission to create a sustainable and enduring value for all, we are continuing to grow based on our three core pillars of our multidimensional growth plan, which includes expanded manufacturing capacity, continued advancements in business portfolio, and a greater global footprint. We are actively looking into implementing more environment-conscious practices and technology across our entire business to become a ‘Green CDMO Partner’.
Driven. For a Sustainable Life. Related Contents Press Release ‘Sustainable CDMO’ Samsung Biologics releases 2022 ESG Report Samsung BIO Insight A Strategic Roadmap for Sustainable Growth - Samsung Biologics at J.P. Morgan Healthcare Conference 2022 Life @ Samsung Biologics Driven. For Climate Action. Which of the following laboratory professionals is specified by CLIA is responsible for evaluating new procedures?Phlebotomy Essentials Ch 1. Which of the following laboratory professionals is responsible for the administration of a specific clinical area such as chemistry?Phlebotomy Essentials. Who promotes and administers programs for public health?HHS is responsible for administrating programs that deal with health, welfare and health information technology (health IT). The Department works with almost one-fourth of all federal government expenditures and administers more grant dollars than all other federal agencies combined.
Which of the following is an example of negative kinesics?Cards
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An important component in ensuring that the healthcare system is sustainable in the future is the
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