OCI Holdings Launches 'ESG Management Council' to Implement Advanced ESG Management Practices

OCI Holdings announced on the 22nd that on the afternoon of the 21st, it launched the 'OCI ESG Management Council' at the OCI Building in Sogong-dong, Jung-gu, Seoul, to raise awareness of ESG (Environmental, Social, and Governance) management among executives and establish a company-wide ESG management foundation.

The OCI ESG Management Council is a separate organization from the existing ESG committees under the boards of directors of each affiliate. It consists of a total of 16 executives from major OCI Group affiliates, including Chairman Lee Woo-hyun and President Seo Jin-seok of OCI Holdings, President Kim Yoo-shin of OCI, Vice President Kim Cheong-ho of OCI Enterprises, and Executive Director Choi Sung-gil of OCIM.

At the inauguration ceremony, attendees announced the key ESG management policies of OCI Group (environment, safety and health, human rights, supply chain, code of ethics) and marked the official launch of the ESG Management Council by signing a declaration consolidating these policies.

Previously, OCI Holdings announced its corporate ESG vision, "Making Sustainability Possible," and stated its commitment to leading ESG management centered on the holding company for the sustainable growth of all OCI Group affiliates.

The newly established ESG Management Council will serve as the highest decision-making body to review and monitor the company’s ESG strategies and policies. It will hold biannual meetings to assess major ESG issues and discuss response measures, acting as a control tower to share unified ESG policies and guidelines across all affiliates.

In particular, the council plans to conduct transparent and efficient ESG management focused on eight key areas across three fields: Environment (climate change response, advanced environmental impact management, expansion of eco-friendly product investments), Social (human rights protection and human resource management, strengthening workplace safety and health systems, building sustainable supply chains), and Governance (advancement of governance, ethical and compliant management practices).

Chairman Lee Woo-hyun of OCI Holdings stated, "The establishment of the OCI ESG Management Council is the first step to internalize an ESG management system centered on the holding company across all domestic and international affiliates. We will build a more advanced ESG management system in line with the era’s demand to apply ESG throughout management and practice sustainable future growth."

Meanwhile, OCI Holdings announced that it received an overall A rating in the 2023 ESG evaluation conducted by Morgan Stanley Capital International (MSCI) in April. This marks a steady improvement over the past three years, moving from a BB rating in 2021 to BBB in 2022, and now an A rating in 2023, recognizing the achievements of its ESG management.