Kolon Industries Includes 'Climate Change Financial Information' in Sustainability Management Report

Kolon Industries announced on July 1 that it has published the "2024 Sustainability Management Report," which details the company's environmental, social, and governance (ESG) activities and sustainability performance for the previous year. This year's report faithfully reflects the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), which calls for transparent disclosure of information such as financial risks arising from climate change. In accordance with these recommendations, Kolon Industries voluntarily disclosed advanced information, including its governance system for responding to climate change, strategies, and financial impact analyses by risk and opportunity factors.

The report also includes a double materiality assessment in line with the EU Sustainability Reporting Standards (ESRS). Through this assessment, the company identified four key topics: climate change, sustainable business, supply chain, and product quality. Based on these, Kolon Industries clearly presented company-wide response strategies and action plans.

Additionally, the company outlined a climate scenario analysis and a phased roadmap based on its greenhouse gas reduction targets, which received official approval from the Science Based Targets initiative (SBTi) in January of this year. Kolon Industries plans to implement its carbon neutrality roadmap in stages, in line with SBTi guidelines, through the development and commercialization of physical and chemical recycled materials, expanded investment in resource circulation and environmental facilities, advancement of hazardous chemical substitution technologies, and increased use of renewable energy. The company aims to faithfully execute this roadmap to achieve carbon neutrality by 2050.

Seo Heo, CEO of Kolon Industries, stated, "We plan to lay the foundation for sustainable growth by maximizing customer-centric value creation and operational efficiency," adding, "We will further solidify our sustainable competitiveness through flexibility and execution that turn crises into opportunities."