Twist Bioscience is doing better than most biotechs on ESG, but overall employment of women lags industry

Twist Bioscience is doing better than most biotechs on ESG, but overall employment of women lags industry

Numbers for female employees were similarly high. Twist stated that 42% of its executive team are women, as is nearly a third of the board of directors, an improvement over the 31% of executives reported for biotech by BIO. In terms of female employees overall, however, Twist’s numbers are actually lower than average, with 39% of the workforce compared to 47%.
“[The report] reflects the ongoing work since our founding that demonstrates our commitment to ethical practices, recruiting and developing a diverse global workforce, and fostering a corporate culture where employees feel valued, respected and have a sense of belonging,” said Angela Bitting, senior vice president of corporate affairs and the chief ESG officer.
As an industry, biotech’s focus on healthcare makes it a natural fit for the S in ESG, and, according to a report from RBC Capital Markets, there’s a trend for companies with high ESG scores to perform better over time.
Notably, Twist did not include any data about LGBTQ+ representation at the company. This is a prime example of the recent trend away from recording and reporting LGBTQ+ in biotech, according to BIO. A recent investigation by Fierce Biotech found that the industry is lagging behind tech in LGBTQ+ representation, and there was actually a drop in biotechs with LGBTQ+ resource groups from 2019 to 2020.

https://www.fiercebiotech.com/biotech/twist-bioscience-doing-better-and-worse-than-most-biotechs-when-it-comes-to-diversity

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