Global provider of life science reagents and services, Maravai LifeSciences Holdings, has released its second Environmental, Social and Governance (ESG) report. The report, which covers the 2022 fiscal year, is available on the company’s new ESG webpage. It provides an extensive and transparent overview of Maravai’s ESG program, detailing how the company is making a positive impact on stakeholders while positioning itself for sustainable growth.
Maravai made significant progress in 2022, prioritising its commitment to sustainability, building infrastructure, creating new ESG roles, and investing in initiatives to better serve its employees, customers, shareholders, supplier partners and communities. The comprehensive 41-page report outlines the company’s ESG advancements, highlighting its measurable Scope 1 and 2 greenhouse gas emissions, its dedication to advancing diversity, equity and inclusion (DEI), and its alignment with the United Nations Sustainable Development Goals, including Good Health and Well-Being; Gender Equality; Decent Work and Economic Growth; and Industry, Innovation and Infrastructure. )
The report was prepared in accordance with leading sustainability frameworks, including the Global Reporting Initiative and three relevant sector standards from the Sustainability Accounting Standards Board. Among the many ESG initiatives covered in the report, some of the key highlights from 2022 include:
Environmental Stewardship
Maravai reported its Scope 1 and 2 greenhouse gas emissions, energy, waste and water consumption across all sites. It also reduced emissions by using renewable energy from solar panels and provided dedicated parking spaces for carpools, electric vehicle charging stations and bike lockers at its headquarters. Additionally, it is incorporating energy-saving features such as LED lighting, low flow fixtures and solar panels into new projects to help reduce energy consumption. Furthermore, Maravai has implemented enterprise-wide recycling programs and organic waste recycling, promoting a comprehensive approach to waste management while strengthening its EHS management system, reducing its OSHA incident rate by 64% from the prior year.
Human Capital & Social Impact
Maravai launched its first employee resource group, Women in Leadership, and has an executive leadership team that is 50% women. The company is taking action to ensure it has the training and resources to promote DEI and foster a more inclusive culture. The company received a 91% participation rate in its company-wide engagement survey, and 92% of respondents indicated they understand how their work contributes to the company’s goals. Employee acquisition efforts have also been ramped up, implementing a new applicant tracking system, increasing applicant flow by 67% and training 144 managers on behavioral-based interviewing and unconscious bias.
Community Impact
Maravai team members collectively donated nearly 400 hours of community service to 45 nonprofit organizations, and the Maravai LifeSciences Foundation expanded its community outreach through new partnerships and made donations totaling $365,000.
Governance Leadership
Maravai’s Board adopted a new committee structure and updated their respective charters to enhance oversight for sustainable growth. All members of the Audit Committee are independent from the company. Each Committee of the Board of Directors is chaired by women who are independent from the Company. Additionally, the Maravai Office of Science and Innovation has been established to expand R&D and meet increased demand.
Maravai’s second ESG report demonstrates its commitment to sustainability, transparency, and social responsibility. The report shows that the company continues to set a solid foundation for sustainable growth, and the company’s dedication to ESG principles can be seen throughout its operations. With such proactive efforts, Maravai is likely to continue seeing positive growth and performance.
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