Kia Receives Excellence Award in ESG Evaluation from Korea Corporate Governance Service

[Asia Economy Reporter Ki-min Lee] Kia announced on the 3rd that it received the ESG (Environmental, Social, and Governance) Excellence Award at the '2021 Korea Corporate Governance Service Outstanding Companies' ceremony held at the Korea Exchange in Yeouido, Seoul, hosted by the Korea Corporate Governance Service.

The Korea Corporate Governance Service is a nonprofit organization under the Korea Exchange, established in 2002 to improve corporate governance and strengthen sustainable management, and is the most credible ESG evaluation institution in South Korea.

Starting with corporate governance evaluations in 2003, since 2011 it has selected outstanding companies in governance and ESG annually through evaluations that include social responsibility and environmental management.

This year, a total of seven companies, including Kia, were selected as ESG outstanding companies, with Kia achieving the highest integrated grade of 'A+ (Very Excellent)' in the automobile and parts industry.

The company explained that Kia's award as an outstanding company recognizes its efforts leading the creation of a sustainable society through ▲ promoting environmental management to respond to climate change ▲ enhancing transparency through strengthened corporate information disclosure ▲ realizing social value through win-win cooperation with partner companies.

In March this year, Kia expanded and reorganized the Transparency Management Committee under the Board of Directors to establish the Sustainability Management Committee under the Board, which deliberates and approves ESG policies and activities, thereby strengthening the decision-making system.

Additionally, to transparently communicate ESG management performance to various stakeholders, Kia publishes a sustainability report annually, and in the first half of this year, it issued an ESG Special Report containing climate-related financial information (TCFD).

In August, Kia's first dedicated electric vehicle, the EV6, became the first in the domestic automobile industry to obtain the Product Carbon Footprint certification from the UK-based nonprofit specialized organization, The Carbon Trust.

A Kia official stated, "We will continue to actively pursue carbon neutrality strategies to respond to the climate crisis and strive to be a company that practices sustainable management contributing to future generations and the global environment."