BYN Black Yak Selected as No.1 Group in 'UN Sustainable Development Goals Management Index'

[Asia Economy Reporter Seungjin Lee] BYN Black Yak announced on the 26th that it has been named to the No. 1 group in the ‘2021 UN Sustainable Development Goals Business Index’ announced by the UN SDGs Association, a special consultative status organization of the UN Economic and Social Council, becoming the first in the fashion industry to achieve this.

The ‘UN Sustainable Development Goals Business Index (hereafter SDGBI)’ is the world’s first management analysis index based on the Sustainable Development Goals. It was introduced as an excellent model for the Sustainable Development Goals by the UN Department of Economic and Social Affairs and is an international sustainable management ESG (Environment, Social, Governance) evaluation indicator submitted as a statement to the UN High-level Political Forum on Sustainable Development.

The evaluation is based on scores calculated by analyzing 2,000 global and 1,000 domestic companies across four areas?social, environmental, economic, and institutional?with 12 categories and 48 indicators. The results are announced in four groups: No. 1 group, top group, upper group, and inclusion group.

Among the 3,000 companies worldwide evaluated in this year’s SDGBI, 173 companies were included in the domestic index, and BYN Black Yak was selected as the No. 1 group for the first time in the fashion industry. This marks an upgrade from last year’s top group selection for two consecutive years to the No. 1 group this year, positioning BYN Black Yak alongside CJ Olive Young, SK Telecom, Korea Seven, Hyundai Home Shopping, and Ildong Pharmaceutical as leading companies in sustainable management.

In particular, BYN Black Yak received high evaluations for ▲ spreading sustainable fashion production and consumption ▲ applying green technology in product production and distribution and reducing carbon emissions ▲ efforts to strengthen resilience and adaptation capacity to climate change ▲ restoring and preserving the sustainability of the global environment ▲ efforts for plastic resource circulation.

Among these, the major factor for being selected as the No. 1 group was the significant contribution to domestic resource circulation policies and systems, such as establishing a resource circulation system for PET bottles in cooperation with the government, local governments, and related companies, and introducing eco-friendly ‘Plustic’ products.

A BYN Black Yak official said, “It is an honor that the company’s efforts and innovative models to practice sustainability across all management activities including products, marketing, and campaigns can be introduced to the international community through this No. 1 group selection.” He added, “We will continue to strive to support and expand the Sustainable Development Goals through the company’s influence.”

Meanwhile, companies in the excellent group or higher in the 2021 UN Sustainable Development Goals Business Index will have opportunities to collaborate with major global investment banks, asset management firms, credit rating agencies, and ESG evaluation institutions.