ESG Management Disclosure Progressed Until the First Half of This Year
"We Will Emerge as a Leading ESG Company"
Sampyo Cement announced on the 18th that it has published the "2023 Sampyo Cement ESG Report," which contains the major achievements of its ESG (Environmental, Social, and Governance) management activities and its mid- to long-term strategies.
Under the vision of "A Green Future with Sampyo," this report transparently discloses the status of ESG management activities carried out from last year through the first half of this year. Quantitative achievements are presented together with data from the past three years.
In particular, this report has further strengthened the "double materiality assessment," which simultaneously considers the impact of environmental and social factors on corporate finance and the impact of corporate management activities on external stakeholders to determine key issues. Through this, the top 10 material issues were selected, including "strengthening climate change response," "minimizing environmental impact," "enhancing employee safety and health management," "improving resource management efficiency," "biodiversity conservation," and "strengthening environmental management systems and monitoring."
To respond to climate change, Sampyo Cement has set a goal to reduce greenhouse gas emissions by 21% by 2030 compared to 2018 levels and by 54% by 2050, aiming to achieve "carbon neutrality." Last year, it achieved an 8% reduction in greenhouse gas emissions compared to 2018. To this end, 34% of the fuel used in cement production was replaced from fossil fuels to recycled resources. By 2030, the use of recycled resources is planned to increase to 58%.
Additionally, last year, a budget of 6 billion KRW was invested to introduce a dedicated cement vessel at Jeju Port. By establishing enclosed unloading facilities, stable cement supply became possible regardless of weather conditions such as rain, improving work efficiency and safety.
In the social sector, the company introduced risk assessment and risk factor management processes, operation of the safety and health council, support activities for win-win cooperation with partner companies, and ESG evaluations, all aimed at building a safe workplace. In the governance sector, the report includes information on the transparent and independent board composition, as well as the establishment of specialized committees such as the audit committee, internal transactions committee, and ESG committee under the board of directors.
A Sampyo Cement official stated, "Based on our ESG strategic goals, we are doing our best to actively practice ESG management and achieve sustainable development," adding, "We will continue to become a leading ESG company by building an eco-friendly resource circulation society, fulfilling social responsibilities, and fostering a fair and clean corporate culture."
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