Environmental, Social and Governance (ESG) Report

Our ESG commitment

Photocure is committed to driving progress in uro-oncology precision diagnostics, focusing our efforts and resources on delivering meaningful advances for patients with urological cancers. Our highly regulated business has an economic, social and environmental impact on our surroundings and stakeholders. The most important impact is the positive contribution to patients’ lives and access to healthcare, as well as the economies and the societies in which we operate. Nevertheless, we need to assess and address potentially negative aspects and consequences of our operations and business relations. These include potential environmental impacts, human rights risks in our supply chain, quality and safety issues, and the risk of corruption. Photocure has high focus on conducting business in the most ethical and transparent way, which includes embedding due diligence in governance, strategy and business model. The company’s framework for corporate governance is intended to decrease business risk, maximize value and utilize the company’s resources in an efficient, sustainable manner, to the benefit of shareholders, employees and society at large.

Since 2020 Photocure reports annually on Environmental, Social and Governance topics that are of importance in our business and society. This report is prepared in accordance with the 2021 GRI Standards and with reference to Euronext guidelines for ESG reporting and the European Sustainability Reporting Standard (ESRS). We have implemented a process based on stakeholder inclusiveness to ensure that Photocure reports on the most material topics for our company and our industry. Although not subject to the Corporate Sustainability Reporting Directive (CSRD), Photocure undertook a double materiality assessment in line with the ESRS. Based on the findings from both the impact and the financial assessment, the company concluded on a list of impacts, risks and opportunities determining Photocure’s material topics, within the “S1 Own Workforce” and “S4 Consumers and end-users” standards, covering topics such as product quality and safety, working environment and equal opportunities, business ethics and transparency, research activities, data protection and IT-security. As part of its sustainability statement, Photocure is also reporting on information stemming from other legislation, such as reporting requirements of the Norwegian Transparency Act: human rights and supply chain responsibility.

The report is approved by the Board of Directors.