Scilex Holding Company
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
ESG Focus Areas
- Environmental Stewardship
- Development Excellence
- Social Orientation
- Governance
Environmental Achievements
- Upgraded thermostats to enhance energy efficiency and reduce carbon footprint.
- Implemented a hybrid remote work policy to minimize carbon emissions from commutes.
- Installed EV charging stations for employees.
- Offered employees a commuter program for mass transit.
- Minimized single-use plastics and moved towards a paperless environment.
- Implemented recycling and composting programs.
Social Achievements
- Commitment to creating a diverse, equitable, and inclusive workplace.
- Implementation of employee engagement initiatives (celebrating birthdays, anniversaries, holidays).
- Copay assistance programs to improve affordability of products for insured patients.
- Efforts to add products to Medicaid and Medicare formularies.
- Commitment to patient welfare and diversity in clinical trials.
- Implementation of strict privacy policies and procedures.
Governance Achievements
- Adoption of a Code of Business Conduct, Corporate Governance Guidelines, and Insider Trading and Compliance Policy.
- Establishment of Audit, Compensation, Nominating & Governance, and Commercialization & Transaction Committees.
- Annual review and certification of governance charters and Code of Business Conduct.
- Implementation of strict ethical selling practices and compliance training.
- Comprehensive cybersecurity policies and procedures.
- Regular risk assessments and oversight by the Board of Directors.
Climate Goals & Targets
Environmental Challenges
- Reducing environmental footprint while maintaining operations.
- Ensuring access and affordability of products for all patients.
- Maintaining compliance with numerous laws, regulations, and standards.
- Managing cybersecurity risks.
Mitigation Strategies
- Sustainable business practices in facilities and future office spaces.
- Copay assistance and efforts to add products to government formularies.
- Strict adherence to applicable laws, regulations, and industry guidelines.
- Comprehensive cybersecurity policies, procedures, and regular audits.
Supply Chain Management
Responsible Procurement
- Compliance with California Transparency in Supply Chains Act