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Materiality Assessment

Materiality Assessment Process

SK bioscience conducted a Double Materiality Assessment to evaluate the impact of corporate sustainability issues on society and the environment. Additionally, the assessment aimed to evaluate the impact of external risks on the business and financial environments in which the Company operates. The assessment involved a comprehensive analysis of international standards and ESG ratings indicators specific to the bio industry. It also included benchmarking of companies in the same line of business, media research, and stakeholder surveys, deriving a pool of 26 topics. By analyzing the materiality and impact of these topics from both financial and social/environmental perspectives, 11 material topics were selected as priorities.

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  1. Step 1 ESG 토픽풀 구성 : GRI 2021, 글로벌 이니셔티브, 평가 지표/동종업계 및 글로벌 선진기업 분석을 바탕으로 SK바이오사이언스에 특화된 26개의 Topic Pool 구성

  2. Step 2 평가 및 우선순위화

    사회∙환경적 영향도
    동종업계 및 글로벌 선진기업 벤치마킹
    경제, 환경, 사회 성과 및 ESG 토픽 관련 미디어 분석
    임직원, 외부 전문가 등 내·외부 이해관계자 대상 설문조사 및 분석
    재무적 영향도
    MSCI, SASB 등 국제 표준 지표 분석 및 반영
    기업 ESG 전략 분석
    재무 분야 임직원 대상 설문조사 및 결과 분석

  3. Step 3 중요 토픽 선정

    • 토픽별 사회∙환경적 영향도와 재무적 영향도를 계량화하여 종합 평가 실시 후 11개 토픽 도출
    • 도출된 11개 토픽에 대한 내부 검토 후 최종 중요 토픽 확정

Material Topics Analysis

SK bioscience annually selects and manages material topics. Each year, the Company publishes the management systems and activities for 11 key material topics on the ESG website. Analyzing the material topics over the past three years shows an upward trend in the ranking of “Embedding ESG into the Organization" aimed at enhancing ESG management. "Securing Mid- to Long-term Growth Engines" has consistently ranked among the top priorities for three consecutive years. Additionally, "Talent Acquisition and Professionals Development" has changed its ranking due to the establishment and operation of the industry-leading systems, earning external recognition.

2022 Material Topics
2022 중요성 토픽
Rank Area Topics
1 B Securing Mid- to Long-term Growth Engines
2 S Enhancing Product Safety & Quality
3 S Talent Acquisition & Professionals Development
4 G Implementing Ethical & Compliance Management
5 E Expanding Business-related Social Value(SV) Creation
6 E Hazardous Chemical Waste Management
7 S Practicing Human Rights Management
8 S Transparent/Responsible Management centeredon the Board
9 G Responding to Climate Change
10 S Expanding Corporate Philanthropic Activities & Community Participation
11 E Embedding ESG into the Organization
12 S Promoting Workplace Safety and Health & Employee Health
13 E Establishing/Advancing Environmental Management System
14 S Promoting Employee Happiness
15 B Securing/Promoting New Growth Engines
16 S Building a Sustainable SupplyChain
17 G Strengthening Stakeholders Communication & Disclosure
18 S Information Security Management
19 S Implementing Customer-centered Management
20 B Transparent Tax Management & Payment
21 S Voluntary Compliance with FairTrade Laws & Regulations
22 G Protecting Shareholders Rights
2023 Material Topics
2023 중요성 토픽
Rank Area Topics
1 S Talent Acquisition & Professionals Development
2 B Securing Mid-to Long-term Growth Engines
3 S Enhancing Product Safety & Quality
4 G Implementing Ethical & Compliance Management
5 S Enhancing Affordability & Accessto Vaccines
6 E Responding to Climate Change
7 S Practicing Human Rights Management
8 S Embedding ESG into the Organization
9 E Hazardous Chemical Waste Management
10 S Building a Sustainable Supply Chain
11 G Transparent/Responsible Management centeredon the Board
12 E Minimizing Environmental Impact through SHE Management
13 G Voluntary Compliance with FairTrade Laws & Regulations
14 S Promoting Workplace Safety and Health & Employee Health
15 S Information Security Management
16 S Expanding Community Participation
17 E Establishing a Circular EconomySystem
18 G Company-wide Integrated Risk Management
19 G Strengthening Stakeholders Communication & Disclosure
20 G Expanding ESG Management Activities
21 B Expanding Business-related Social Value(SV) Creation
22 B Transparent Tax Management &Payment
23 G Protecting Shareholders Rights
24 S Implementing Customer-centered Management
2024 Material Topics
2024 중요성 토픽
Rank Area Topics
1 B Securing Mid- to Long-term Growth Engines
2 S Embedding ESG into the Organization
3 S Enhancing Product Safety & Quality
4 G Implementing Ethical & Compliance Management
5 E Responding to Climate Change
6 E Hazardous Chemical Waste Management
7 S Practicing Human Rights Management
8 S Building a Sustainable Supply Chain
9 G Transparent/Responsible Management centered on the Board
10 S Talent Acquisition & Professionals Development
11 E Minimizing Environmental Impact through SHE Management
12 S Promoting Employee Happiness
13 S Enhancing Affordability & Access to Vaccines
14 G Transparent Tax Management & Payment
15 G Protecting Shareholders Rights
16 G Integrated Management of Financial & Non-financial risks
17 E Establishing a Circular Economy System
18 B Managing Brand & Leading the Market
19 E Products Management based on Life Cycle Assessment(LCA)
20 S Promoting Workplace Safety and Health & Employee Health
21 G Voluntary Compliance with Fair Trade Laws & Regulations
22 G Strengthening Stakeholders Communication & Disclosure
23 E Analyzing Biodiversity & Conducting Conservation Activities
24 S Implementing Customer-centered Management
25 S Expanding Business-related Social Value(SV) Creation
26 S Information Security Management
Key Material Topics Analysis
Material Topic, Governance, Strategy & Risk Management, Activity & Performance 분석
Material Topic Governance (Management System) Strategy & Risk Management Activity & Performance
Securing Mid- to Long-term Growth Engines
  • Operating dedicated teams for innovative R&D of vaccines and biopharmaceuticals & improving vaccine manufacturing technology
  • Expanding products portfolio, strengthening ‘manufacturing/R&D infrastructure’, & establishing a global vaccine supply chain under the ‘SKYShield initiative’
  • Pursuing ‘expansion of new bio businesses’ such as CGT (Cell-Gene Therapy) and ‘preparation for the next pandemics’
  • Developed 20+ vaccine pipeline, including next-generation pneumococcal and RSV vaccines
  • Invested approximately KRW 85.7 billion in R&D under the SKBS 3.0 Strategy
Embedding ESG into the Organization
  • Establishing ESG management system, including the ESG Committee under the Board and the ESG working-level council
  • Setting mid- to long-term ESG management directions & goals
  • Implementing company-wide ESG management through non-financial Risk management.
  • Executing corporate philanthropic activities & various training programs for embedding ESG among employees
  • Created social value (SV) of KRW 164.2 billion according to SK DBL
  • Achieved 100% attendance rate of ESG Committee meetings
  • Conducted employee corporate philanthropic activities related to business (infectious disease prevention campaigns)
Enhancing Product Safety & Quality
  • Guaranteeing pharmaceutical quality by obtaining certifications such as K-GMP, EU-GMP, UK MHRA, and WHO PQ
  • Operating a quality assurance system optimized for GMP standards
  • Operating quality management processes for quality assurance across the entire value chain
  • Protecting clinical trial participants’ safety & rights through DSMB(Data Safety Monitoring Boards)
  • Verifying the reliability and effectiveness of clinical research through independent clinical audits & ensuring compliance with research ethics principles and domestic/international regulations
  • Achieved quality assurance through K-GMP, EU-GMP, UK MHRA, and WHO PQ certifications
  • Operated the Quality Management System (QMS) & applied the Electronic Quality Assurance System (eQMS).
  • Conducted regular training to enhance GMP capabilities
  • Conducted 83 quality inspections by customers & health authorities and on business partners
Implementing Ethical & Compliance Management
  • Operating a dedicated compliance team (Ethical Management Team)
  • Overseeing the entire process of the Compliance Team
  • Imposing disciplinary actions for unethical and unfair practices within the Company through an ethics reporting system
  • Encouraging voluntary compliance with laws and regulations among employees by operating a fair trade compliance program & a compliance officer system
  • Enhancing transparency in corporate management through an Internal Accounting Control System(IACS)
  • Achieved 99% completion of employees training for practicing the code of ethics
  • Reached a 100% processing rate for ethics-related reports
  • Published & distributed a fair trade compliance handbook
  • Recorded zero violations of compliance-related regulations
Responding to Climate Change
  • Making decisions on climate change strategies & activities at the ESG Committee level
  • Establishing a mid- to long-term climate change roadmap based on SBTi
  • Identifying/assessing the impact of potential climate change risk, considering time frames(short-term/mid-term/long-term), financial impact, and materiality
  • Disclosed strategies & activities related to climate change actions
  • Calculated & managing Scope 3 greenhouse gas emissions
Hazardous Chemical Waste Management
  • Establishing a chemical inventory for systematic management of hazardous chemicals
  • Conducting preliminary hazard reviews before introducing new chemicals
  • Applying the SHE IT system for computerized updates of Material Safety Data Sheets (MSDS) for new chemicals
  • Establishing a Chemical Management System(CMS) for life-cycle management of chemicals
  • Conducting annual self-inspections of waste disposal contractors
  • Planned/conducted risk assessments for chemicals handled on-site
  • Provided safety training on hazardous chemicals to employees
Practicing Human Rights Management
  • Operating a Human Rights Management Committee & a dedicated Team to promote effective human rights management
  • Minimizing human rights risks by introducing an external grievance channel for human rights concerns
  • Identifying actual/potential human rights risks & deriving countermeasures/improvements through human rights impact assessments
  • Conducted human rights impact assessment for employees & expanded targets to business partners and local communities
  • Ensured 100% completion of sexual harassment prevention & disability awareness education
Building a Sustainable Supply Chain
  • Establishing a supply chain management system for ESG capacity-building
  • Identifying ESG risks in the supply chain & deriving improvements
  • Supporting business partners in strengthening ESG management capacity
  • Reducing the burden on business partners regarding ESG ratings
  • Introduced ‘Click ESG’, a supply chain ESG assessment platform
  • Diagnosed ESG risks & derived improvement measures for 41 business partners
  • Distributed the supply chain ESG evaluation guidebook
Transparent/Responsible Management Centered on the Board
  • Realizing transparent management by appointing board members according to the guidelines for outside directors independence & board diversity.
  • Promoting board-centered management through five committees under the Board
  • Conducting regular self-evaluations of the board and disclosing the results
  • Conducting objective individual evaluations of outside directors annually
  • Maintained an A grade in governance in the Korea Institute of Corporate Governance and Sustainability(KCGS) ESG ratings from 2022 to 2023
  • 14 Board meetings during 2023
Talent Acquisition & Professionals Development
  • Operating HR systems that support the growth of employee capacity & secure global bio professionals
  • Operating global talent recruitment programs to secure talent with global capability and key experience
  • Supporting the next-generation talent development through education/on-site visits as a Global Training Hub for Biomanufacturing(GTH-B)
  • Encouraging employees to set their own goals through KPI-based performance evaluations
  • Enhancing work performance & employee motivation by establishing a regular performance management system
  • Supported bio talent development through Park MahnHoon scholarship
  • Provided vaccine manufacturing process education to trainees of the global training program for biomanufacturing
  • Selected/awarded winners of the Park MahnHoon Prize in collaboration with the International Vaccine Institute (IVI) (held three times until 2024)
  • Supported employees’ studies(graduate), leadership, and job competency enhancement
Minimizing Environmental Impact through SHE Management
  • Operating business sites based on an Environmental Management System(EMS) & minimizing product environmental impact
  • Establishing monitoring and classification processes to manage wastes generated within business sites
  • Strengthening environmental impact analysis through the adoption of the Environmental Management System(EMS)
  • Reduced air pollutants by replacing industrial boiler fuel with LNG
  • Conducted water pollution reduction using the bio-kill system