Newly Released Report Details Company’s Progress and Plans for Growing Responsibly
BASEL, Switzerland & BEIJING & CAMBRIDGE, Mass.--(BUSINESS WIRE)--
BeiGene (NASDAQ: BGNE; HKEX: 06160; SSE: 688235), a global biotechnology company, announced several new Environmental, Social, and Governance (ESG) goals today, including targets related to carbon emissions and workforce diversity. These goals are outlined in the Company’s newly released “Change Is the Cure: 2022 Environmental, Social and Governance Report.” The report highlights BeiGene’s ESG strategy, the progress the Company has made against past goals, and how it intends to achieve its bold new targets.
This report comes at a time of tremendous growth for BeiGene, which received U.S. approval for BRUKINSA in chronic lymphocytic leukemia (CLL) in January. The Company is also actively expanding its presence in Europe, Latin America and the U.S., where it is currently building a flagship research and development and manufacturing facility in Hopewell, New Jersey.
While BeiGene is growing quickly, it recognizes the need to do so responsibly. Change Is the Cure is BeiGene’s ESG strategy, and is centered around five pillars: advancing global health, empowering our people, innovating sustainably, supporting communities and operating responsibly. BeiGene has committed to setting goals for each of these pillars and reporting on progress. The 2022 ESG report is the first comprehensive look at the Company’s progress against these goals, while setting ambitious targets for the future.
“As a global company we understand that we must do our part to contribute to the health of the environment in the communities where we live and work, to overcome global healthcare inequities, and to embed diversity, equity, inclusion, and belonging (DEI&B) into our corporate culture,” said John V. Oyler, Co-Founder, Chairman and CEO of BeiGene. “The Change Is the Cure framework ensures that as we grow, we are making business decisions that benefit all our stakeholders and fulfill our mission of making high quality therapies accessible and affordable to more people around the world.”
“Our Change Is the Cure Strategy is enabling us to build a company that is committed to sustainability, supporting our people and good corporate citizenship,” said Christine Riley Miller, Executive Director, Corporate Social Responsibility. “BeiGene is focused on achieving our newly announced goals and setting new ambitious targets as we continue to grow.”
New Goals for Growing Sustainably
BeiGene understands that human health and the health of the planet are intrinsically linked. As a company focused on improving health and health equity, it is committed to operating in a way that mitigates environmental impacts.
Today, BeiGene announced that by 2024 it will set quantitative emissions targets for both its direct emissions (Scope 1) and emissions generated from the energy it buys (Scope 2). It will also set a quantitative Scope 3 target by 2025, addressing emissions from third parties throughout the value chain.
To meet its climate goals, BeiGene is building a strategic roadmap that includes energy efficiency projects and renewable energy purchases.
Achieving Gender Parity in Leadership
One of BeiGene’s founding principles is that the best way to grow an innovative company is to hire the best people wherever they may be. The Company now has more than 9,000 employees on 5 continents, including a newly opened office in Brazil.
To support this global workforce, BeiGene strives to foster an environment and culture that reflects and supports the diverse communities of the patients it serves, and the unique qualities that each colleague brings to the company.
Today, BeiGene announced a goal of achieving gender parity at the Vice President and above levels by 2030—a goal it has already made great strides towards. This goal builds on the gender parity the Company had previously achieved among colleagues below the Vice President level.
As BeiGene continues to grow, it will maintain its deep commitment to supporting a diverse, talented and engaged global workforce.
Key 2022 ESG Achievements
In addition to announcing these and other new goals, BeiGene’s ESG report highlights key achievements from 2022, including:
Joining the United Nations (UN) Global Compact and aligning the Company’s efforts with the UN’s Sustainable Development Goals.
Becoming a founding member of the Union for International Cancer Control’s Access to Oncology Medicines (ATOM) Coalition which focuses on improving access to innovative medicines in lower-income countries and supporting them in developing the capacity to provide proper treatment for patients.
Conducting a risk scenario analysis to better understand how climate change impacts BeiGene’s ability to deliver medicines to patients worldwide and identifying steps to reduce the risk of supply chain disruptions.
For more information about BeiGene’s Change Is the Cure strategy, achievements and goals, please download a copy of the report here.
BeiGene is a global biotechnology company that is developing and commercializing innovative and affordable oncology medicines to improve treatment outcomes and access for far more patients worldwide. With a broad portfolio, we are expediting development of our diverse pipeline of novel therapeutics through our internal capabilities and collaborations. We are committed to radically improving access to medicines for far more patients who need them. Our growing global team of more than 9,000 colleagues spans five continents, with administrative offices in Basel, Beijing and Cambridge, Mass. To learn more about BeiGene, please visit www.beigene.com and follow us on Twitter at @BeiGeneGlobal.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including statements regarding BeiGene’s progress in building the new manufacturing and clinical R&D center in New Jersey and BeiGene’s ability to manufacture commercial-stage medicines and drug candidates at the site, the ability of the site to complement BeiGene’s existing capabilities, BeiGene’s ability to obtain additional regulatory approvals for medicines, the potential for the site to create affordable and accessible medicines, the expected size of the site and potential for future expansion, the expected timing for completion of construction, BeiGene’s anticipated investment in and recruiting and hiring of talent for the new manufacturing and R&D center, and BeiGene’s plans, commitments, aspirations, and goals under the heading “About BeiGene.” Actual results may differ materially from those indicated in the forward-looking statements as a result of various important factors, including BeiGene's ability to demonstrate the efficacy and safety of its drug candidates; the clinical results for its drug candidates, which may not support further development or marketing approval; actions of regulatory agencies, which may affect the initiation, timing and progress of clinical trials and marketing approval; BeiGene's ability to achieve commercial success for its marketed medicines and drug candidates, if approved; BeiGene's ability to obtain and maintain protection of intellectual property for its medicines and technology; BeiGene's reliance on third parties to conduct drug development, manufacturing and other services; BeiGene’s limited experience in obtaining regulatory approvals and commercializing pharmaceutical products and its ability to obtain additional funding for operations and to complete the development of its drug candidates and achieve and maintain profitability; and the impact of the COVID-19 pandemic on BeiGene’s clinical development, regulatory, commercial, manufacturing, and other operations, as well as those risks more fully discussed in the section entitled “Risk Factors” in BeiGene’s most recent annual report on Form 10-K, as well as discussions of potential risks, uncertainties, and other important factors in BeiGene's subsequent filings with the U.S. Securities and Exchange Commission. All information in this press release is as of the date of this press release, and BeiGene undertakes no duty to update such information unless required by law.
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