Samsung Biologics receives Terra Carta Seal

Samsung Biologics Co., the world’s largest contract drugmaker, said on Wednesday it was awarded the Sustainable Markets Initiative’s Terra Carta Seal.

The Terra Carta Seal is an environmental edition of the "Magna Carta" promoted by King Charles III of the United Kingdom in 2021.

It encourages companies to invest in climate sectors with recommendations that companies around the world should follow for a sustainable future.

SMI awards the Terra Carta Seal every year to companies that have presented specific roadmaps to achieve carbon neutrality by 2050. This year, it was awarded to 19 companies, including Apple, GSK, and Sanofi.

“Healthcare is at a pivotal moment and through our collaborative efforts, we can contribute to shaping climate-resilient practices to influence and help shape policy across the pharmaceutical and healthcare sectors,” said John Rim, CEO of Samsung Biologics.

Meanwhile, on Dec. 29, Samsung published a report on the Taskforce on Climate-related Financial Disclosures (TCFD) that contains the direction of responding to climate change and sustainable management activities.

TCFD is an international consultative body created by the Financial Stability Board under the Bank for International Settlements (BIS) at the request of the G20 in 2015.

TCFD recommends that companies identify climate-related risks and opportunities, establish strategies, and disclose the expected financial impact in numerical reports.

Write to Jae-Young Han at jyhan@hankyung.com