"ESG Management is the Top Priority for Sustainable Growth... Various Activities Will Be Carried Out"
[Asia Economy Reporter Kim Pyeonghwa] Daehan Electric Wire announced on the 25th that it has achieved an integrated A grade (excellent) for two consecutive years in the '2022 ESG Evaluation' conducted by the Korea Corporate Governance Service (KCGS). It is the only company in the electric wire industry to receive an A grade. No company had achieved an A grade for two consecutive years until now.
The Korea Corporate Governance Service has been evaluating the sustainability management level by awarding grades in each field of Environment, Social, and Governance (ESG) as well as an integrated grade to listed companies annually since 2003. The area where Daehan Electric Wire achieved the best results in this evaluation was the social sector. It earned an A+ grade (highest) for two consecutive years. Among the 772 companies evaluated this year, 79 companies received an A+ in the social sector, placing them in the top 10%. In the environment and governance sectors, the company received a B+ grade.
Daehan Electric Wire assessed that this result is meaningful as it was achieved amid a general decline in grades across companies due to revisions in the evaluation model. They added that the good evaluation was a result of actively promoting specific and feasible ESG activities at a rapid pace. The company has been conducting community activities such as introducing a Compliance Program (CP) for fair trade, blood donation campaigns, and used battery exchange events. They have also worked to establish advanced governance by announcing a Corporate Governance Charter.
A representative from Daehan Electric Wire stated, “We will continue to strive to create sustainable value and build a healthy future society, establishing ourselves as a model company for ESG in the industry.”
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