Biogen Idec (NASDAQ:BIIB) has been named the biotechnology industry leader on the Dow Jones Sustainability World Index (DJSI World). The company also was named to the Dow Jones Sustainability Index (DJSI) North America for the fifth consecutive year, one of only two biotech companies included. In September 2013, Biogen Idec became the first U.S.-based biotechnology company to be named to DJSI World.
DJSI World tracks the economic, environmental and social strategy and performance of the 2,500 largest companies in the S&P Global Broad Market IndexSM. This year only 319 companies were named to DJSI World. Biogen Idec led the biotechnology industry on every environmental measure and scored in the 100th percentile on 19 of the 26 overall evaluation criteria.
"As a research-intensive company, our passion for innovation is core to our efforts to improve the lives of patients and that same passion for innovation underlies how we approach corporate citizenship and sustainability," said George Scangos, Ph.D., chief executive officer of Biogen Idec. "We have had great success using new approaches to energy and water conservation and as an organization we continue to develop programs that support our employees, our communities and society. I am proud of all of our global colleagues, each of whom plays a critical role in our ability to become a more sustainable company."
Biogen Idec improved its DJSI score from last year in 10 specific environmental, social and economic areas. These include: environmental reporting, operational eco-efficiency, addressing the cost burdens of treatment, corporate citizenship and philanthropy, health outcome contribution, labor practice indicators and human rights, stakeholder engagement, talent attraction and retention, supply chain management and marketing practices.
Biogen Idec publishes an annual Corporate Citizenship Report based on internationally recognized Global Reporting Initiative (GRI) Guidelines and was an early adopter of the latest iteration of GRI, the G4. In its most recent report, the company outlined a set of aggressive goals for 2020. These include reducing greenhouse gas emissions intensity by 80 percent by 2020 (compared to its 2006 baseline and normalized by revenue) and improving upon what is already one of the industry’s best health and safety records by driving down its “Days Away Case Rate,” by 80 percent. The company also plans to maintain its zero waste-to-landfill status, which it achieved in 2012.