Recursion Publishes First Environmental, Social and Governance (ESG) Report
- Releases inaugural report less than one year after becoming a publicly-traded company, demonstrating its strong commitment to ESG stewardship
- Announces new long-term commitments focused on net-zero greenhouse gas emissions, workforce diversity and philanthropy
SALT LAKE CITY, March 24, 2022 /PRNewswire/ -- Recursion (NASDAQ: RXRX) today announced the release of its inaugural Environmental, Social and Governance (ESG) Report, highlighting the company's approach, practices and goals in several important areas such as its people and culture, community engagement, commitment to patients and environmental impact.
"Recursion has a strong foundation of corporate and social responsibility that has been a part of our company's DNA from the start," said Recursion Co-Founder & CEO Chris Gibson, Ph.D. "This report gives us an opportunity to share the progress we've made, align our approach to external frameworks and standards, and establish new, ambitious goals we believe will have an important impact on society. Our ESG stewardship is both an integral part of our mission and essential to achieving it, and we believe deeply that committing to and investing in these areas will have a positive effect on our long-term success."
As part of its report, Recursion outlined several long-term ESG commitments, including:
- Net-Zero Greenhouse Gas (GHG) Emissions: The company aims to reduce or offset GHG emissions from its operations with a goal to become net-zero by the year 2030. This includes a near-term commitment to perform a detailed measurement and analysis of its emissions, with plans to disclose Scope 1 and 2 emissions in its next ESG Report.
- Equal Gender Representation: By 2030, the company aims for roughly equal representation of female and male genders (50/50 after considering non-binary representation) for (1) the whole company and (2) Vice President and above.
- The Recursion Foundation: Recursion will direct 1% of its equity into the Recursion Foundation, the company's non-profit entity established in 2019. The Foundation will continue to support the communities in which Recursion is based, with a focus on helping build sustainable, diverse and equitable life science and technology hubs; expanding STEM education opportunities for diverse youth; and directing and amplifying employee volunteerism into causes aligned with the company's mission. This includes an ongoing commitment to Altitude Lab, the life sciences incubator dedicated to supporting the next generation of diverse health care entrepreneurs, which launched in 2020 as a joint effort by Recursion and the University of Utah.
Recursion's ESG Report is guided by key ESG frameworks, notably the standards of the Sustainability Accounting Standards Board (SASB) 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.
Recursion is the clinical-stage biotechnology company industrializing drug discovery by decoding biology. Enabling its mission is the Recursion Operating System, a platform built across diverse technologies that continuously expands one of the world's largest proprietary biological and chemical datasets, the Recursion Data Universe. Recursion leverages sophisticated machine-learning algorithms to distill from its dataset the Recursion Map, a collection of hundreds of billions of searchable inferences 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 and chemistry to advance the future of medicine.
The company is proudly 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, Montréal and the San Francisco Bay Area. Learn more at www.Recursion.com, or connect on Twitter and LinkedIn.
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 Recursion's mission; early and late stage discovery, preclinical, and clinical programs; licenses and collaborations; prospective products and their potential future indications and market opportunities; Recursion OS and other technologies; expansion of facilities and expected uses; workforce growth; employee stock trading plans; business and financial plans and performance; 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 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; the impact of the COVID-19 pandemic and force majeure events; 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; 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 most recent Quarterly Report on Form 10-Q. 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.