[Asia Economy Reporter Eunmo Koo] Binggrae announced on the 28th that it has achieved an integrated A grade for four consecutive years in this year's ESG evaluation by the Korea Corporate Governance Service (KCGS).
The Korea Corporate Governance Service evaluated the environmental (E), social (S), and governance (G) levels of 975 listed companies based on a revised evaluation model centered on global standards and ESG governance this year. Binggrae received an integrated A grade for four consecutive years, with detailed grades of A for Environment, A for Social, and B+ for Governance.
Meanwhile, Binggrae also received the highest AA grade for two consecutive years in the ESG evaluation by Sustainvest, an ESG evaluation and data analysis organization. Sustainvest annually evaluates the ESG management level of about 1,000 listed companies based on differentiated criteria according to company size and announces the grades.
Binggrae is leading efforts to reduce plastic usage and carbon emissions by improving product packaging and production processes with consideration for the environment.
By reducing the weight of the container for its flagship product, Banana Flavored Milk, and reprocessing leftover plastic from the container production process for reuse, Binggrae has achieved an annual reduction effect of 4,000 tons of carbon dioxide emissions.
Since 2012, Yoplait has reduced plastic usage by lightening cup containers and recently introduced a renewed product of Yoplait Original without a plastic lid. In addition, plastic usage is being reduced by applying label-free packaging to RTD (Ready to Drink) coffee products such as Acapella Simply and the Clear Tea series.
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