Recursion Publishes Annual Environmental, Social and Governance Report
Recursion (RXRX) releases its third annual ESG Report, showcasing progress in reducing greenhouse gas emissions, enhancing diversity, and community impact. The company's commitment to sustainability and innovation in drug discovery is highlighted, earning accolades for ESG performance.
Assessing Recursion's ESG report from a sustainability perspective, the company's efforts to reduce greenhouse gas emissions and improve environmental sustainability are commendable. These actions align with broad industry trends where investors increasingly factor in sustainability metrics into their investment decisions. Recursion's adherence to frameworks like SASB and TCFD ensures transparency and comparability, which is essential for investor confidence. Moreover, the company's high rankings by Sustainalytics and ISS indicate that its ESG performance is competitive within the pharmaceutical industry. This can enhance Recursion's reputation and potentially lead to a more stable investor base, as ESG-focused funds and socially responsible investors may be more inclined to hold the stock.
From a governance standpoint, the release of an annual ESG report reflects positively on Recursion's management practices and board oversight. The pharmaceutical industry is under increasing scrutiny for ethical practices and Recursion's proactive approach to governance can mitigate reputational risks. The Prime Rating by ISS and the A Rating by MSCI are indicators of strong governance that can attract institutional investors looking for well-managed companies. However, it's important to monitor whether these ratings translate into tangible governance improvements over time, rather than just being a snapshot of current practices.
Recursion's focus on improving workforce diversity is a strategic move that can lead to a variety of business benefits. A diverse workforce is linked to increased innovation, better decision-making and a broader understanding of customer needs—all vital in the competitive drug discovery market. By accelerating community impact and focusing on social goals, Recursion not only strengthens its corporate image but potentially fosters a more inclusive and productive work environment. Long-term, these initiatives may translate into a stronger company culture and better financial performance as diverse teams often correlate with better business results.
03/26/2024 - 08:00 AM
Provides progress updates in support of long-term commitments focused on reducing greenhouse gas emissions, improving workforce diversity and accelerating community impact.
SALT LAKE CITY, March 26, 2024 (GLOBE NEWSWIRE) -- Recursion (Nasdaq: RXRX), a clinical stage TechBio company leading the space by decoding biology to industrialize drug discovery, today announced the release of its third annual Environmental, Social and Governance (ESG) Report . The report highlights the company’s approach, progress and goals in several important areas such as its commitment to patients, social and community impact, people and culture, environmental sustainability, and governance.
“Our vision of using AI and technology to create a better, more efficient process of discovering many new medicines is inherently a vision of sustainability. Efficiency – in our context – drives a more sustainable healthcare system,” said Chris Gibson, Ph.D., Co-Founder and CEO at Recursion. “Now in our third year of reporting on our ESG goals and progress, we’re not only pushing the boundaries of what is possible with TechBio to create a new paradigm in drug discovery, but also making strides to drive positive impacts for all of our stakeholders.”
Recursion has been widely recognized for its commitment to excellence in environmental, social and governance stewardship, including ranking 16 out of over 900 companies (approximately the top 2% ) in the pharmaceutical category by Morningstar Sustainalytics as of January 2024. This ranking places Recursion in Sustainalytics’ 2024 Top-Rated ESG Companies List. Recursion also received a Prime Rating in 2023 for ESG performance from Institutional Shareholder Services (ISS). A Prime Rating is awarded to companies with ESG performance above a sector-specific threshold and is defined by ISS as "absolute best in class". In February 2024, Recursion received an A Rating for ESG performance by MSCI.
Recursion’s ESG Report is guided by key ESG frameworks and standards, notably the Sustainability Accounting Standards Board (SASB), The Task Force on Climate-Related Financial Disclosures (TCFD) and the United Nations Sustainable Development Goals (UN SDGs). You can learn more about Recursion’s approach to ESG and download a copy of the report at www.Recursion.com/esg .
About Recursion
Recursion is a clinical stage TechBio company leading the space by decoding biology to industrialize drug discovery. Enabling its mission is the Recursion OS, a platform built across diverse technologies that continuously expands one of the world’s largest proprietary biological, chemical and patient-centric datasets. Recursion leverages sophisticated machine-learning algorithms to distill from its dataset a collection of trillions of searchable relationships across biology and chemistry unconstrained by human bias. By commanding massive experimental scale — up to millions of wet lab experiments weekly — and massive computational scale — owning and operating one of the most powerful supercomputers in the world, Recursion is uniting technology, biology, chemistry and patient-centric data to advance the future of medicine.
Recursion is headquartered in Salt Lake City, where it is a founding member of BioHive , the Utah life sciences industry collective. Recursion also has offices in Toronto, Montreal and the San Francisco Bay Area. Learn more at www.Recursion.com , or connect on X (formerly Twitter) and LinkedIn .
Forward-Looking Statements
This document contains information that includes or is based upon "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995, including, without limitation, those regarding its initiatives to reduce greenhouse gas emissions, improve workforce diversity and accelerate community impact; and all other statements that are not historical facts. Forward-looking statements may or may not include identifying words such as “plan,” “will,” “expect,” “anticipate,” “intend,” “believe,” “potential,” “continue,” and similar terms. These statements are subject to known or unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements, including but not limited to: challenges inherent in pharmaceutical research and development, including the timing and results of preclinical and clinical programs, where the risk of failure is high and failure can occur at any stage prior to or after regulatory approval due to lack of sufficient efficacy, safety considerations, or other factors; our ability to leverage and enhance our drug discovery platform; our ability to obtain financing for development activities and other corporate purposes; the success of our collaboration activities; our ability to obtain regulatory approval of, and ultimately commercialize, drug candidates; our ability to obtain, maintain, and enforce intellectual property protections; cyberattacks or other disruptions to our technology systems; our ability to attract, motivate, and retain key employees and manage our growth; inflation and other macroeconomic issues; and other risks and uncertainties such as those described under the heading “Risk Factors” in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K. All forward-looking statements are based on management’s current estimates, projections, and assumptions, and Recursion undertakes no obligation to correct or update any such statements, whether as a result of new information, future developments, or otherwise, except to the extent required by applicable law.
What did Recursion announce in its recent PR?
Recursion announced the release of its third annual Environmental, Social, and Governance (ESG) Report.
What areas does the ESG Report focus on?
The ESG Report highlights Recursion's commitments to patients, social impact, workforce diversity, environmental sustainability, and governance.
How is Recursion using AI and technology in its vision?
Recursion aims to create a more efficient process for drug discovery using AI and technology, driving sustainability in healthcare.
What recognition has Recursion received for its ESG performance?
Recursion ranked 16 out of over 900 companies in the pharmaceutical category by Morningstar Sustainalytics, received a Prime Rating from ISS in 2023, and an A Rating from MSCI in 2024.
Which frameworks guide Recursion's ESG Report?
Recursion's ESG Report follows key frameworks like SASB, TCFD, and UN SDGs to ensure transparency and accountability.
