CSL Limited Annual Report 2022/23 27 In our United States and European plasma collection centres, we use modern techniques and technologies to facilitate the safest, most efficient donation process. We consistently update our plasma collection centres to seek to provide a comfortable and safe donor experience. External sources of plasma may be used as needed and available to supplement collections to meet demand. We endeavour to invest in manufacturing capacity ahead of projected demand to ensure that we can supply the needs of patients. Our operations also accommodate investments in technology and process improvements to enhance efficiency and reduce costs. Such improvements encompass strategies to increase the yield of both immunoglobulin and cell-based influenza vaccines, along with boosting the throughput of our existing facilities. We are actively engaged in developing an array of new therapies, including plasma-derived, recombinant, iron-based, cell-based and sa-mRNA vaccines, and gene therapies to maximise the utilisation of our global R&D and manufacturing network. Our global network strategy continually evaluates short-, mid-, and long-term needs to inform decisions on capital and operational expenditures, including the use of expert third party providers to ensure a resilient, reliable and sustainable supply chain. We examine and prioritise our operational effectiveness efforts, capital plans, inventory targets, supply chain visibility, distribution and regulatory strategies to enhance the positions of our products from a business continuity and supply chain resilience standpoint. Market access Policy making around market access is a multi-stakeholder engagement process, which includes governments, payers/ insurers, patient advocacy groups, medical societies and non-governmental organisations. We recognise that if we are not successful in maintaining an economic and reliable supply of our therapies for our stakeholders, or do not adopt responsible pricing, it may adversely affect our ability to execute our strategy, deliver sustainable growth and uphold our corporate reputation. We further recognise that macroeconomic pressures on governments and payers may impair access, growth and newmarket entries. We work closely with stakeholders in all countries where we market our products and continually seek to ensure pricing of our therapies reflects the value they bring to the people who need them and to health systems, and remains competitive and responsible. By continuing to innovate in our product portfolio, we can serve the unmet needs of more people and expand our access to more countries. People and culture CSL’s people and our commitment to fostering an inclusive, values-driven culture are integral to meeting and exceeding the standards expected by our stakeholders and the community. We have a variety of programs and policies in place, including our Speak Up Policy and our Code of Responsible Business Practice (CRBP), to ensure that our CSL Values guide how we work and operate around the world. We recognise that having a strong values driven culture where our employees act with integrity helps build internal and external trust and ultimately protects and builds CSL’s reputation. We also recognise the need to have the right people with the right skills in the right roles in order to execute our 2030 Strategy. As we focus on attracting, developing and retaining top talent in this globally competitive environment, we regularly review best practices, and benchmark ourselves against the markets in which we operate with the goal of offering total rewards that are both compelling and competitive with our peers and competitors. In addition, we understand that the workplace and our employees’ needs are constantly evolving, and we offer flexible work options and opportunities for them to stay connected regardless of location. We constantly challenge ourselves to create an engaging and collaborative environment where our people can drive innovation and focus on meaningful, valuable work. Our employee brand, Promising FUTURES, represents CSL’s investment in the overall employee experience, with an emphasis on digitalisation and automation, collaboration, connectivity and inclusion, employee development and customised rewards for attracting and retaining next-generation talent. Privacy and cybersecurity Ensuring the privacy and security of our data, including that of our patients, donors and employees, is of critical importance to CSL. We recognise the escalating risk of cyber threats and data privacy breaches targeting individuals and organisations. These cyberattacks constantly evolve, ranging from sophisticated phishing scams to attacks on critical infrastructure. Additionally, breaches of our information technology (IT) security and unauthorised or inadvertent release of information, caused by human error, malware or espionage, may compromise the privacy and security of the data we hold. To address these challenges, CSL maintains a proactive stance by continuously monitoring and assessing cybersecurity threats. We have designed and implemented robust security controls for our IT systems, infrastructure and data, based on our understanding of known threats and industry best practices, and external testing to ensure their effectiveness. Furthermore, we understand that awareness and preparedness are key in responding to cyberattacks and safeguarding data privacy. As such, we place great emphasis on providing ongoing education and training to our employees. By equipping themwith the knowledge and skills to recognise and appropriately respond to cyber threats, we strive to empower our employees to effectively mitigate risks and promptly report any privacy breaches. CSL remains dedicated to upholding the privacy and security of all data entrusted to us. Through our monitoring, privacy and security controls, and training programs, we commit to maintaining high standards of cybersecurity and data protection. Further details about our enterprise risk management framework and how we manage our business risks is provided in our 2023 Corporate Governance Statement available on CSL.com (We Are CSL > Corporate Governance).
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