Lotte Fine Chemical Publishes 2020 Sustainability Management Report
[Asia Economy Reporter Yoonju Hwang] Lotte Fine Chemical announced on the 13th that it has published the 2020 Sustainability Management Report, which contains the company's ESG (Environmental, Social, and Governance) management performance and future plans.
Since 2016, Lotte Fine Chemical has published this report annually to transparently disclose the company's management performance and ESG management achievements, facilitating communication with stakeholders.
In this report, following last year, the company applied the Integrated Reporting Framework established by the International Integrated Reporting Council (IIRC) to visually represent the flow of the company's financial and non-financial capitals for easier understanding. The company's ESG activities are linked with the UN Sustainable Development Goals (SDGs) and the 10 principles of the UN Global Compact.
As societal demands for corporate ESG management have increased recently, 2021 was designated as the inaugural year of ESG management, and an ESG roadmap outlining plans through 2030 was presented. Notably, the report introduced a new 'Interactive PDF' format, moving away from the traditional booklet style to reduce environmental impact and enhance reader convenience and usability through various functions.
Meanwhile, Lotte Fine Chemical has achieved excellent results in domestic and international ESG evaluations, including four consecutive years of A grade in the Korea Corporate Governance Service ESG evaluation, five consecutive years of AA grade in the Sustainvest ESG evaluation, and a Gold rating in the EcoVadis supply chain assessment. The company has also been recognized for outstanding performance in international report competitions, winning the Gold Award (1st place) in the 2020 Galaxy Awards for Sustainability Reports and the Platinum Award (1st place) in the 2020 US LACP Spotlight Awards for Sustainability Management Reports.
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This report has been voluntarily disclosed on the Financial Supervisory Service's electronic disclosure system (dart.fss.or.kr) to improve shareholders' and stakeholders' access to company information and can be viewed on Lotte Fine Chemical's website and blog.
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