Our approach to sustainability reporting

Aligning to the UN SDGs

The UN’s 17 SDGs, adopted by the member states in 2015, represent a call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity by 2030.

The 17 SDGs are integrated, recognising that progress in one area will affect outcomes in others, and that development must balance social, economic and environmental sustainability.

There are four SDGs that we believe our business is well-aligned with. Our linkages are highlighted throughout the Sustainability Report.

This year, Goal 13: Climate Action has been added to our core linked SDGs, reflecting the progress made by Syncona and its portfolio in environmental reporting in the financial year.

Goal 3:
Ensure healthy lives and promote wellbeing for all at all ages

Syncona’s purpose is to invest to extend and enhance human life. Through our portfolio of companies, we develop treatments which help people to live healthier lives, and we are committed to making medicines more accessible by ensuring our business and portfolio companies operate with transparency and integrity.

Goal 8:
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

Syncona and its portfolio companies provide employment for over 1,200 people globally, providing opportunities in a broad range of roles within a vibrant and growing sector. We are committed to promoting diversity in the life sciences, seeing its promotion as both an economic and moral imperative.

Goal 9:
Build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation

Innovation through effective, high-quality research and development sits at the core of what our portfolio companies do. We have high expectations of our portfolio companies and work in collaboration with them to deliver high standards in areas such as data stewardship, clinical trials and competitive practices.

Goal 13:
Take urgent action to combat climate change and its impacts

Syncona understands that climate change represents a systemic risk to our countries and economies, and aspires to be net zero throughout its value chain by 2050. It is committed to minimising the environmental impact that it has on the world, both by taking direct action in its own operations and working with its portfolio companies to assist them in aligning their business operations with the goals of the 2015 Paris Agreement.

Mapping our sustainability progress for our stakeholders

Syncona has chosen to report in line with the GRI Standards since 2021.

GRI is an independent global organisation which has provided a framework and standards for corporate sustainability reporting since 1997. The GRI Standards are generally seen as the most widely adopted global standards for sustainability reporting.

We chose to report against the GRI framework following a comprehensive process, taking into account guidance from external advisers. The framework ensures that Syncona is aware of the key areas of sustainability reporting which are of interest to external stakeholders. The GRI Standards also allow Syncona’s investors and other key stakeholders to more easily compare the Company’s sustainability reporting with that of other companies.

Syncona is supportive of the continued efforts being made globally towards the convergence of sustainability reporting standards. The GRI is contributing towards this via its work as a coconstructor of the EU’s new sustainability reporting standards, with the prominent role played by the GRI in this process underlining its continuing role in setting the global sustainability agenda.

The world’s leading proponent of responsible investment

The UN PRI have existed since 2006 and are widely seen as the leading framework for outlining how investors should integrate sustainability considerations into investment practice.

Signatories are required to commit to aligning their investment activities with the PRI’s key six principles, which together commit a company to acting in the best interests of its ultimate beneficiaries.

Syncona became a signatory of the PRI in October 2021, following the publication of Syncona’s first Responsible Investment Policy earlier in the year. Becoming a signatory underlines Syncona’s belief that it can make a significant impact in delivering on the commitments made in its Sustainability Policy through engaging effectively with its portfolio companies.

Understanding the risks and opportunities associated with climate change

TCFD is increasingly becoming the accepted global standard for reporting against the risks and opportunities that companies may be exposed to due to climate change.

The TCFD recommendations ask companies to assess how they may be exposed to the physical risks of climate change, as well as the transition risks which could impact companies as there is a forced transition towards a green economy.

Although Syncona remains out of scope for mandatory TCFD reporting, it is reporting against the TCFD guidelines to underline its commitment to a comprehensive sustainability reporting framework. It also provides the opportunity to better understand the climate-related risks and opportunities which might impact the Company, and whether they should be integrated into the Company’s risk management framework.

For more information, please see our TCFD summary disclosure.