LS Nikko Dongjeon, Asia's First to Pursue Copper Mark Certification... Part of ESG Management Initiative

[Asia Economy Reporter Suyeon Woo] LS Nikko Copper Refinery is strengthening its ESG management by becoming the first in Asia to pursue the 'Copper Mark' certification.

LS Nikko Copper Refinery announced on the 31st that it has applied for the 'Copper Mark' certification review. The Copper Mark is a responsible certification system introduced in 2019, led by the International Copper Association. It is awarded to companies that comply with standards protecting the environment and human rights, promoting local coexistence, and practicing ethical management throughout all processes from copper ore mining to sales. It is also known as the only 'ESG certification system' in the copper industry.

The London Metal Exchange (LME) requires copper industry-related companies to comply with responsible purchasing policies by 2023, and currently, the Copper Mark is the only certification method for this.

Coppermark

So far, only seven companies have applied for certification review: LS Nikko Copper Refinery and Germany's Aurubis in the copper smelting sector, and Australia's BHP and the United States' Freeport-McMoRan in the mining sector. The only company currently certified is the Canadian mining company Rio Tinto.

LS Nikko Copper Refinery expects positive results recognizing its continuous social contribution activities and environmental investments. In advanced markets such as the United States and Europe, companies certified with the Copper Mark can secure a long-term competitive advantage in sales.

The global copper refining industry is currently facing a trend of deteriorating profitability due to raw material shortages caused by sluggish development of new large mines and competition for raw materials due to continuous construction of smelters in China. In response to this situation, LS Nikko Copper Refinery has been promoting digital transformation centered on the Onsan smelter since 2017 and is accelerating the introduction of ESG management ahead of its competitors.

Gu Jahong, Chairman of LS Nikko Copper Refinery, said, "Starting with the Copper Mark certification, we will respond to social responsible investment, another pillar of ESG management in the long term, and complete genuine ESG management."

Michel Brulhart, CEO of Copper Mark, responded, "By LS Nikko Copper Refinery applying for Copper Mark certification as the first Asian company, we expect it to become a valuable milestone for the global copper industry's fulfillment of social responsibility."

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