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Merck to integrate sustainability further into its corporate strategy

November 13/2020

MOSCOW (MRC) -- Merck KGaA has presented its new sustainability strategy, with which it aims to integrate sustainability more deeply as an essential component of its corporate strategy, according to Chemweek.

The main aims of the strategy are to develop sustainable science and technology, integrate sustainability into all the company's value chains by 2030, and achieve climate neutrality and reduce its resource consumption by 2040, Merck says. The company will report annually on the current implementation status of the strategy.

Merck says it wants the new strategy to contribute to the achievement of the United Nations sustainable development goals. It says it is integrating the topic of sustainability into its business strategies and will be taking the goals of the sustainability strategy into account when making business decisions. The company is also planning to link the variable pay of its board and senior management with progress made in achieving the three sustainability goals.

As MRC wrote previously, Merck KGaA has announced the opening its M Lab Collaboration Center in Shanghai, China. Merck Innovation Hub, the first in China, started in late 2019, with the company announcing a 100 million renminbi (USD14 million) seed fund injected into the China Innovation Hub.

Besides, Merck KGaA said in August, 2020, it plans to build an EUR18-million (USD20.6 million) laboratory facility at Buchs, Switzerland, to support its rapidly growing reference materials business. The facility will include laboratory and office space in a three-story, 1,125-square-meter building, Merck says. Completion of construction is scheduled for December 2021 and the move to the facility is planned for early 2022, the company says. Merck anticipates that about two dozen jobs will be created.

We remind that Russia's output of chemical products rose in September 2020 by 6.7% year on year. At the same time, production of basic chemicals increased by 6.1% year on year in the first nine months of 2020, according to Rosstat's data. According to the Federal State Statistics Service of the Russian Federation, polymers in primary form accounted for the greatest increase in the January-September output. Last month's production of primary polymers decreased to 852,000 tonnes from 888,000 tonnes in August due to shutdowns in Tomsk, Ufa and Kazan. Overall output of polymers in primary form totalled 7,480,000 tonnes over the stated period, up by 16.4%  year on year.

Headquartered in Darmstadt, Germany, Merck opened an OLED application center in Pyeongtaek, Korea, in 2015. Merck Korea now has 11 operation sites and some 1,200 employees and operates businesses in functional materials, health care and life sciences. The functional materials business encompasses advance materials for information technology products such as displays and semiconductors. It also includes cosmetics and paints for automobiles.
Its health care business involves pharmaceuticals and medical devices for treatments of cancer, multiple sclerosis and infertility. The life sciences business deals in an extensive portfolio of over 300,000 products used for protein research, cell biology, antibodies, water purification and microbiome tests.
Author:Margaret Volkova
Tags:crude and gaz condensate, car components, medicine, petrochemistry, packaging, Merck, sustainable development, Germany, China, Russia, Switzerland.
Category:General News
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