NEWS
Kumho Petrochemical Earns “BB Rating” from MSCI’s ESG Evaluation
No. 19
Date registered : 2023.03.08
■ Acquired a “BB Rating” in MSCI’s ESG Evaluation… Recognized for improvements in the Environment (E) and Governance (G) Pillars
■ Includes ESG-related achievements, such as an increase in the ESG evaluation rating from the Korea Institute of Corporate Governance and Sustainability (KCGS) and incorporation into the Dow Jones Sustainability Indices (DJSI) Korea
On the 8th, Kumho Petrochemical (CEO Baek Jong-hoon) announced that it had obtained a “BB rating,” a step up from the previous year, in the ESG evaluation conducted by Morgan Stanley Capital International (MSCI).
MSCI annually evaluates listed companies around the world on 10 major areas and 35 key issues related to the environment, society, and governance. MSCI’s evaluation is known as a major indicator that can objectively measure a company’s ESG level, as it is based on its own and third-party data, as well as a company’s disclosures or sustainability reports.
According to the report, Kumho Petrochemical was highly praised for improving its greenhouse gas management strategy by establishing a climate change response strategy in the environment (E) pillar and improving its greenhouse gas emission intensity to lower levels than its peers.
In the governance (G) pillar, the recent recognition of high independence by separating the CEO and the chair of the committee and having major committees 100% comprised of outside directors was effective. The fact that Park Chan-goo, the former Kumho Petrochemical Group Chairman, resigned from the registered director position two years ago and switched to a professional management system was also considered.
Kumho Petrochemical plans to continue its efforts to continuously upgrade its rating by reexamining the overall ESG promotion status without being complacent with its ESG evaluation rating upgrade.
Meanwhile, Kumho Petrochemical achieving its ESG advancement is externally recognized, earning a higher ESG evaluation rating from the Korea Institute of Corporate Governance and Sustainability (KCGS) and incorporation into the Dow Jones Sustainability Indices (DJSI) Korea after declaring its great transformation into a sustainable growth company in March 2022.
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No. 192023.03.08
Kumho Petrochemical Earns “BB Rating” from MSCI’s ESG Evaluation
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