Syngene is committed to building a business that is sustained by active environmental protection, positive societal impact, strong corporate governance and business ethics, both within the Company and in partnership with those who contribute to our supply chain. We measure and report our progress annually to provide stakeholders with a clear picture of the way we run our business.
The Company tailors its ESG strategy and priorities to align with business requirements and stakeholder expectations. ESG progress is reported via two formal channels: the Business Responsibility and Sustainability Report (BRSR part of the Annual Report) and the annual ESG report. These documents are available on the Company’s website.
We have structured our ESG strategy around 12 material issues – identified by gathering feedback from stakeholders. These 12 topics bring focus to our activities, allowing us to tackle significant sustainability challenges while continuously exploring new avenues for improvement, remaining accountable, and forging partnerships to create long-term value.
As an integral part of running a successful business, we aim to be a recognized leader in our sector for our commitment to integrating ESG parameters into our operations and demanding the same from our suppliers.
We measure and report progress annually so that stakeholders can hold us accountable for delivering on our commitments and sharing our shortcomings in a timely way.
By doing this, we will build trust with all stakeholders; attract the professional and scientific talent that is central to our business model; and be able to fulfil our mission to improve the lives of people, animals and patients through client partnerships, while minimising the impact of our activity on the planet and the communities in which we live and work.
In 2021, Syngene conducted a six-step stakeholder engagement and materiality assessment for the first time. Active participation and valuable feedback from stakeholders enabled the Company to prioritize critical issues affecting business sustainability. The identified material topics were aligned with the guidelines set forth by the Global Reporting Initiatives (GRI) and the Sustainability Accounting Standards Board (SASB) Materiality for the sector, ensuring that Syngene’s approach was in line with industry best practices.14
Determine the pertinent ESG topics by engaging in conversations with internal stakeholders, comparing against industry peers, and evaluating media, investor reports, and other secondary sources.
Elaborate on the stakeholder engagement approach, which includes selecting a representative group of internal and external stakeholders. Develop survey questionnaires focused on materiality to gather insights from these stakeholders.
Utilize online survey tools to distribute and collect data on stakeholder perceptions of ESG topics relevant to Syngene.
Review the findings of the materiality survey with members of the Executive ESG Council and prioritize the significant issues that align with the business strategy.
Assess ESG survey results from internal and external stakeholders, and calibrate findings by synthesizing collected data.
14 GRI 3-1
Syngene’s stakeholders which include investors, workforce, clients, suppliers, regulators, media and government bodies, determined critical concerns linked to the Company’s ongoing business operations. Keeping these concerns in mind, the Executive ESG Council nominated the following ESG topics as top priorities and accordingly gained approval from the Board.
Energy consumption and efficiency
Water consumption and efficiency
Waste management
Occupational health and safety
Talent acquisition and retention
Diversity and inclusion
Community engagement
Corporate governance and business ethics
Cybersecurity
Supply chain
Regulatory
Digitization
15 GRI 3-2
