ST Pharm said Friday that it has joined the United Nations Global Compact (UNGC) as part of its efforts to strengthen ESG management.
Launched at the U.N. headquarters in 2000, the UNGC is the world’s largest corporate sustainability initiative. More than 20,000 companies and organizations from over 160 countries are currently collaborating to achieve the Sustainable Development Goals (SDGs).
ST Pharm's plant in Banwol, Ansan, Gyeonggi Province (Courtesy of ST Pharm)
With the membership, ST Pharm plans to annually disclose its Communication on Progress (CoP), outlining its performance and implementation roadmap for complying with the UNGC’s 10 principles in the areas of human rights, labor, environment, and anti-corruption.
Sung Moo-je, CEO of ST Pharm, said, “Joining the UNGC represents a company-wide commitment by ST Pharm to go beyond profit generation and practice responsible management for the health of humanity and a sustainable future.”
He added, “We will embed the UNGC’s 10 principles into our corporate strategy, culture, and day-to-day operations, and fulfill our social responsibilities as a leading global CDMO company.”
Yoo Yeon-chul, Secretary General of the U.N. Global Compact Korea Association, said, “ST Pharm’s participation in the UNGC is meaningful as a first step toward meeting the global standards presented by the international community.”
“We hope this will serve as an opportunity for the company to incorporate UNGC values and principles across its overall management practices,” he added.
Kim Ji-hye
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