High Scores in Environment and Human Rights
Goal of Sustainable Growth through Strengthened ESG Management
OCI announced on the 28th that it has been recognized for its ESG management capabilities by receiving the Gold rating, which corresponds to the top 5%, from EcoVadis, a global ESG evaluation agency.
Founded in France in 2007, EcoVadis is the world's largest global sustainability assessment organization. It evaluates over 130,000 companies across more than 180 countries in four categories: Environment, Labor & Human Rights, Ethics, and Sustainable Procurement, awarding ratings such as Platinum (top 1%), Gold (top 5%), Silver (top 15%), and Bronze (top 35%).
OCI received the highest scores particularly in the Environment and Labor & Human Rights categories, achieving balanced growth across all areas compared to last year. By obtaining the Gold rating, which places it in the top 5%, OCI expects to proactively respond to the strengthening of global ESG regulations and thereby enhance its business competitiveness.
To strengthen ESG management, OCI has established mid- to long-term strategies and set specific action plans for each area of Environment, Social, and Governance, continuing systematic ESG activities.
In the Environment sector, OCI has established a greenhouse gas emission management system in line with global carbon emission regulations. It has set a goal to increase the water reuse rate by more than 10% by 2030 compared to 2019. OCI produces eco-friendly carbon black using recycled plastic oil as raw material and obtained the international eco-friendly product certification 'ISCC (International Sustainability & Carbon Certification) Plus' this year. OCI plans to continue expanding the use of eco-friendly raw materials and increase certification acquisitions.
In the Labor & Human Rights sector, OCI expanded human rights impact assessments across all business sites in April this year to identify related risks, and based on this, it has improved company policies and strengthened human rights management.
OCI also received the highest AA rating from Sustainvest, a domestic ESG evaluation agency, thereby gaining recognition for its sustainability management capabilities both domestically and internationally. Sustainvest selects 100 outstanding ESG companies among listed domestic companies every semester, and OCI was included in this 'ESG Best Company' list.
Kim Yushin, CEO of OCI, stated, "The acquisition of the EcoVadis Gold rating is a proactive response to the ESG demands of key stakeholders and an important achievement for securing global market competitiveness. OCI will continue to strengthen ESG management to achieve sustainable growth and develop into a company that fulfills its social responsibilities."
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