Sustainability
We recognise and consider the meta and meso-trends that shape and threaten our world.
Those that will impact our business and the markets we serve, our employees and their families, our business and scientific partners and the broader community, and the environment in which we live and work. Identifying these trends is an important part of our business planning, not only so that we can determine emerging risks to the sustainability of our business, but also so that we can pinpoint opportunities to create value and make a positive impact.
Trends
Changing expectations of the role of business in society
There is increased regulatory scrutiny of companies’ non-financial commitments and performance in areas such as climate change, human rights, tax practices, and diversity and inclusion. Shareholders and other stakeholders are demanding that companies exceed compliance and publicly account for their impacts on people and the planet.
Changing demographic and epidemiological trends
Demographic and epidemiological trends are changing as the global population is expected to rise to 10 billion people by 2050, with the proportion of over 60s expected to reach over 20%, up from 12% in 2015. The increased prevalence of chronic diseases and the focus by governments on improving equitable access have been brought into sharp relief by the COVID-19 pandemic.
The rise of new technologies that are transforming the speed, power and location of work
The rise of new technologies is transforming the speed, power and location of work and research processes and poses an increased cyber security threat.
The global role of companies in considering, addressing and combating climate change
Companies are expected to play a role in reducing their emissions and report on these. Changing disease patterns and extreme weather events may present risks to our people and supply chains, while the potential economic and geopolitical consequences of climate change may alter our commercial environment.
Increased focus on diversity and inclusion
Increased focus on diversity and inclusion has become a global imperative, particularly in the face of greater polarisation, divisions and inequity in our society. Not only is this a moral imperative, but there is clear recognition that companies that are more diverse and inclusive, are more successful and sustainable.
Rapidly changing needs and imperatives in healthcare research
Rapidly changing needs and imperatives in healthcare research resulted in increased funding for biomedical research and translational medicine, including significant expansion and prioritisation of R&D in China. There is a growing significance of proteomics, as well as a focus on increased research reproducibility to reduce wasted time and resources.
Material issues
1. Product
Product quality
Ensuring the consistency and quality of our products.
Innovation
Pre-empting and meeting future research needs, building an effective R&D model and continuing Abcam’s differentiation in product and service.
Biomedical ethics
Ensuring that our products are appropriately used for the purposes they are intended and that suppliers adhere to rigorous standards of animal welfare and actively promote the adoption of the NC3R’s directive.
2. People
Employee engagement
Investing in our most valuable asset, our human capital.
Diversity and inclusion
Growing a diverse team and inclusive culture.
Attraction, development, and remuneration
Attracting, developing and retaining talent so that we can grow and thrive.
Safety and wellbeing
Providing a healthy, safe, and enriching environment.
STEM education and careers
Supporting the next generation of scientists by encouraging a diverse pipeline of talent to enter into science.
3. Partners
Maintain and establish relationships
Developing and maintaining strong, mutually-beneficial and long-term partnership network.
Protection of data and IP
Preventing the loss of control of key data or IP.
Supply chain integrity
Ensuring that Abcam’s global supply chain is ethically responsible, adheres to the same high standards of conduct and is validated.
4. Planet
Product quality
Reducing greenhouse gas (GHG) emissions. Reducing carbon emissions and developing a roadmap to Net Zero.
Reducing waste
Reducing waste throughout the value chain.
Environmental compliance
Ensuring compliance with all environmental legislation and regulation wherever we operate.
5. Governance
Cybersecurity
Monitor and reduce the risk of cyber-attacks.
Business ethics
Ensuring a zero tolerance of bribery and corruption anywhere in our value chain and that our code of conduct is upheld across our business.
Reports, policies and data
Our impacts and the progress we make and the measures we take to meet them are dynamic and ongoing.
Our sustainability framework
Our sustainability framework weaves together our purpose, culture and strategy, and sets out our priority areas.
Governance for sustainability
It is for everyone in the business to play their part: from our Board of Directors through to all of our employees.
See how we are creating sustainable value across our business
‘Our Impact 2021’
Registered Office:
Discovery Drive, Cambridge
Biomedical Campus,
Cambridge, CB2 0AX, UK
+44 (0) 1223 696 000
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