Khiron Life Sciences Corp publishes their Inaugural 2020 ESG Report, the inaugural sustainability report outlines actions and initiatives undertaken in 2020 to strengthen ESG practices throughout the Company’s operations, along with Khiron’s goals for the short term. The report adheres to Global Reporting Initiative (GRI) Standards and reflects the alignment of the Company’s goals with the United Nations Sustainable Development Goals. A full copy of the report is available here.
“At Khiron, sustainability is embedded in our DNA. With the common belief that strong ESG policies improve performance, loyalty, and innovation, while reducing corporate risks and capital costs, our inaugural ESG report demonstrates our dedication to strong environmental, social and governance principles as we deliver on our Mission of improving lives through cannabis. I am proud of how our team rose to the challenges of 2020, achieving incredible milestones in an unprecedented year,” comments Alvaro Torres, CEO and Director.
Alvaro Torres, continues, “Increasingly, institutional investors are using ESG principles to guide investment decisions, and as one of the first global cannabis companies to publish an ESG report, we have achieved another corporate milestone that distinguishes us as an industry leader and market disruptor. We have set ambitious ESG goals for the next two years and I am confident our team will deliver on these objectives.”
2020 ESG Highlights
- Conducted initial identification and assessment of material social, economic, environmental and governance issues, resulting in the identification and prioritization of 10 overarching goals in alignment with United Nations Sustainable Development Goals.
- Identified eight main and key stakeholder groups impacted or influenced by the Company, including shareholders, employees, patients, clients, local communities, suppliers, and government.
- Supported local communities during COVID-19 crisis by donating COVID-19 PCR testing equipment to the Santa Clara Hospital in Bogota; in addition, supplied a health care practitioner to the local hospital in Piedras, Tolima to cope with the pandemic, provided nutritional kits to vulnerable families and essential medical supplies to local hospitals.
- Secured 88% of production supplies from domestic suppliers, 11% from local suppliers and employed 74% local residents at the Company’s production facility.
- Had a positive impact on local communities, with 61% of surveyed residents indicating that the Company has had positive impact on the community.
- Achieved wage parity between men and women in the Company’s workforce, while fostering a diverse and inclusive workplace.
- Promoted culture of compliance and robust corporate security; improved voluntary incident reporting by over 135x, conducted over 35 employee training sessions related to the Company’s ESG goals, had no regulatory or compliance infractions and no cases of corruption or ethics complaints.
- Leveraged a culture of innovation and adaptability, pivoting quickly in response to the COVID-19 crisis, rapidly developing telemedicine channels, managing supply chain to ensure patients received medications and reprioritizing capital.
- Commissioned a solar park to reduce energy consumption at production facility by up to 40% and maximum capacity, while implementing initiatives to measure the use and reduce the consumption of natural resources, including energy, water, and materials.