Enhancing Reliability and Transparency by Applying ISSB Standards
Including Climate Risk Analysis and Disclosure of Financial Impacts
Global secondary battery materials company L&F announced on the 30th that it has published its '2024 Sustainability Management Report,' disclosing its environmental, social, and governance (ESG) management performance and future strategies.
Since announcing its ESG vision in 2022 and publishing its first sustainability management report, L&F has regularly disclosed its ESG strategies and implementation outcomes every year. Notably, this year's report newly introduces an 'ESG Journey' section, which visually summarizes ESG activities and major achievements. The section organizes key milestones?such as obtaining certifications, establishing board committees, and building safety, environmental, and information security systems?by year following the 2022 ESG vision declaration, allowing a clear view of the execution and systematic development of ESG management.
In addition, the report is structured based on the framework presented by the International Sustainability Standards Board (ISSB), a global disclosure standard. In particular, for climate-related disclosures, the company classifies major climate risks into four categories: physical risks, transition risks, market risks, and policy risks. It then analyzes and discloses the financial impacts of each, significantly enhancing the specificity of its climate risk response.
Earlier, in mid-June, L&F separately published its 'Responsible Minerals Report' in both Korean and English, transparently disclosing management measures and activity outcomes for a sustainable mineral supply chain to domestic and international stakeholders. Published for the second consecutive year, the report covers supply chain due diligence and management activities for a total of eight minerals?including cobalt, lithium, nickel, and manganese?in addition to the conflict minerals 3TG (tin, tungsten, tantalum, and gold).
Lyu Seungheon, Chief Financial Officer (CFO) of L&F, stated, "This sustainability management report serves as a key indicator that clearly demonstrates L&F's systematic and strategic implementation of ESG management." He added, "L&F is fulfilling its social responsibilities through comprehensive efforts such as biodiversity protection, human rights management, and supply chain management. Going forward, we will continue to internalize ESG management and strive to become a global company leading a sustainable future."
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