Samsung Biologics (KRX: 207940.KS), the world’s leading contract development and manufacturing organization, announced the signing of an MOU today to participate in the Frontier 1.5D initiative to develop a climate risk management model as part of 2050 Carbon Neutral Strategy in response to the ongoing challenges associated with global climate change.
The Frontier 1.5D project is a global collaborative effort to limit temperature rise to 1.5°C above pre-industrial levels, and local business leaders have joined forces with the British Embassy, Ewha Woman’s University, Financial Supervisory Service, to collectively thrive for a net-zero future. Frontier 1.5D is expected to address uncertainties associated with climate change by analyzing the financial impact of climate change and climate response policies such as GHG reductions.
Samsung Biologics, as a business sector representative, will be closely monitoring, identifying, and providing data for each of its biopharmaceutical manufacturing plants through its Carbon Disclosure Project (CDP) initiative with Science Based Targets (SBT) to determine risks and opportunities on climate change as well as the financial impact to translate these data into actions.
“We are proud and honored to be a part of the vital Frontier 1.5D initiative to ultimately redefine energy efficiency and reusable energy through the reduction of GHG emissions,” said John Rim, CEO of Samsung Biologics. “Alongside our core mission to bring a healthier and sustainable future for humanity, Samsung Biologics will support the development of mid to long-term climate change strategies and action plans as part of our decarbonization efforts to achieve a net-zero future.”
