Boyden: ESG in Biotech- Paving the Way for a Sustainable Future
Integration of environmental, social, and governance (ESG) factors is nothing new and has been on investors' and stakeholders' minds for about two decades. As ESG data and reporting standards become mandatory, biotechs will likely have a significant problem. Josh Blackman, Partner in Boyden’s UK & Ireland Healthcare & Life Sciences practice strongly believes that "the industry clearly sees the importance of the ESG agenda but high levels of ambiguity around what is required to be reported on are stifling progress."
Some companies have decided to adopt the hiring of a Chief Sustainability Officer (CSO) who could potentially aid in the business's impact on the environment. A recent study conducted by law firm Fenwick reported that 92% of respondents think ESG disclosures will become more important in 2022.
In Boyden's recent article, they explore:
- Possible ESG reporting metrics
- Why ESG factors are likely to have a big impact on future investment decisions
- Biotech's issues with the forthcoming ESG data and reporting standard