Hanwha Life Insurance Achieves 'A' in KCGS ESG Rating... Improvement from Last Year

[Asia Economy Reporter Ki Ha-young] Hanwha Life announced on the 14th that it received an overall 'A' grade in the Environment, Social, and Governance (ESG) ratings published annually in October by the Korea Corporate Governance Service (KCGS). This marks an improvement of one grade from last year's 'B+'.

Hanwha Life improved by one grade in the environmental and social categories among the three ESG evaluation sectors, receiving 'A' and 'A+' grades respectively compared to last year.

The Korea Corporate Governance Service, an ESG evaluation agency, highly rated Hanwha Life's efforts in energy saving and its eco-friendly office management system in the environmental indicators. Hanwha Life received high marks for operating an environmental management system through initiatives such as installing solar panels at the Hanwha Life Lifepark Training Center, realizing low-carbon workplaces, and improving energy efficiency.

They also significantly reduced paper usage through the establishment of a paperless meeting culture and the Smart Planner electronic subscription system, which has been open and operational since 2015.

Hanwha Life was also recognized for excellence in the social category by earning an 'A+' grade for activities such as community contributions, win-win management with partner companies, and consumer protection efforts.

As part of win-win management with partners, Hanwha Life operates an electronic purchasing system (HGAPS) to ensure fair and transparent partner selection and evaluates the ethical management practices of partners during the selection process.

Yeoseungju, CEO of Hanwha Life, stated, “Hanwha Life has been publishing a sustainability management report since last year that discloses non-financial performance such as environmental and social achievements alongside financial results for ESG management. We will expand social responsibility activities leveraging the characteristics of the insurance industry and actively promote social value creation activities to practice ESG management for sustainable development.”

This content was produced with the assistance of AI translation services.