BioMarin is committed to transparency into environmental, social and governance (ESG) activities at our company. In 2022, we took several additional actions to advance our commitment to ESG issues, including:
- Formed an internal cross-functional team of organizational leaders whose purpose is to respond to and begin to address stakeholder feedback received on all ESG issues. The cross-functional ESG Core Team is overseen by an ESG Executive Steering Committee comprised of top executives, including our chief company officers for legal, compliance, finance/investor relations, technical operations, people and communications. In addition, the BioMarin Board of Directors’ Corporate Governance Nominating Committee provides further oversight of all ESG activities.
- Hired an independent consulting firm with expertise in ESG risk management and disclosure to provide technical advice to the cross-functional team.
- Disclosed additional ESG information on BioMarin.com.
- Initiated an MSCI gap analysis.
- Initiated a materiality assessment, which will identify the ESG topics that are most important to our business and stakeholders.
- Began compiling and analyzing information deemed financially material by SASB’s Biotechnology & Pharmaceuticals, Sustainability Accounting Standard, Version 2018-10.
From this work, BioMarin plans to complete the following additional actions by 2025:
- Create a SASB index to publish on BioMarin.com with hyperlinks to more detailed corporate responsibility narratives included throughout our website.
- Monitor changes in MSCI score and gauge investor feedback as more information is disclosed and report back on progress.
- Publish a formal ESG report.
- Develop and implement ESG goals/initiatives.
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