Selected as a Company with Low ESG Risk
High Scores in Categories such as Governance and Industrial Safety
Kumho Petrochemical received high marks from a global ESG (Environmental, Social, and Governance) rating agency. Sustainalytics, which measures ESG risks of companies, evaluated over 400 chemical industry companies, and Kumho Petrochemical was included in the top 28 company group.
On the 20th, Kumho Petrochemical announced that it was selected by Sustainalytics for the 'Industry-leading ESG Companies List.' Sustainalytics conducts ESG risk assessments annually across 42 industries, evaluating more than 15,000 companies, and publishes the top companies with low ESG risk scores overall, by industry, and by region. Sustainalytics' evaluation data is used as a basis for certifications required for capital raising, including green bond issuance.
Kumho Petrochemical headquarters located in Supyo-dong, Jung-gu, Seoul. Photo by Kumho Petrochemical
The evaluation criteria for calculating ESG risk include ▲governance ▲greenhouse gas emissions ▲wastewater and waste discharge ▲resource usage ▲industrial safety, among others. Kumho Petrochemical believes it received positive evaluations across all categories, resulting in a low overall risk score. Other domestic chemical companies such as Hyosung Chemical, Lotte Chemical, and SK Chemical were rated as 'medium risk,' indicating a need for a higher level of risk management.
Baek Jong-hoon, CEO of Kumho Petrochemical, said, "We consider it meaningful that the company's efforts toward sustainability have borne fruit," adding, "We will continue to proactively prepare for changes in policies and trends."
Meanwhile, Kumho Petrochemical was also selected as a member of the 'Sustainability Yearbook' by the international credit rating agency Standard & Poor's (S&P) Global for the second consecutive year following 2024. Additionally, in December last year, the company was included in the 'Dow Jones Sustainability Index (DJSI) Korea' for the third consecutive year, focusing company-wide efforts on advancing sustainable management.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
