Arovella Therapeutics Ltd (ASX:ALA), a biotechnology company focused on developing its invariant natural Killer T (iNKT) cell platform and oral spray delivery technology, has produced its first environmental, social and governance (ESG) report based on 21 core metrics identified by the World Economic Forum (WEF) in its stakeholder capitalism framework.
The WCF’s 21 core metrics, which are accompanied by 34 expanded metrics, concern diversity, freedom of association, pay equality, child, forced or compulsory labour, health and safety, and health and wellbeing among many others.
Arovella has committed to integrating these metrics into governance, business strategy and performance management processes, intending to demonstrate the company’s diligence in considering all pertinent risks and opportunities in running its business.
“Consistent and measurable approach”
“Arovella is committed to building legitimate environmental, social and governance (ESG) credentials. We have commenced ESG reporting as a tangible step in our ESG journey,” Arovella Therapeutics CEO and managing director Dr Michael Baker said.
“We greatly value ESG considerations as they enable us to better identify material risks and growth potential, leading to better-informed decisions and business outcomes.
“Equally, our commitment to ESG creates a consistent and measurable approach that helps us contribute to building a more prosperous and fulfilled society and a more sustainable relationship with our planet.
“At Arovella, we see the creation of life-changing therapeutics as an important contributor to society and to bettering the world around us.
“Concurrently, it is important to us that we are working towards our goals in a way that is inclusive and environmentally friendly. We are excited to have begun reporting on our ESG journey.”
Arovella has engaged impact monitoring technology platform Socialsuite to streamline the disclosure and ongoing ESG reporting process and aid the company in measuring, monitoring and reporting on its ESG commitments.