SK Innovation Expands Sustainability Report into ESG Report

To Strengthen ESG Management, Provide Current Situation Information Across All Areas Aligned with Stakeholders' Perspectives

[Asia Economy Reporter Hwang Yoon-joo] SK Innovation announced on the 28th that it has expanded its annually published sustainability report, which contains detailed information about the company's management, into an 'ESG Report' this year. The report was recently posted on the company’s website after reporting and verification by the newly established ESG Committee under the board of directors.

SK Innovation explained that this is to share the ESG management, which is being strongly promoted company-wide, with all stakeholders and to promise improvements in each ESG category through strong execution.

Through the ESG Report, SK Innovation has further detailed the management status of each category?E (Environment), S (Social), and G (Governance)?and included practical information tailored to the heightened expectations of stakeholders.

Regarding this, Kim Jung-kwan, Chair of SK Innovation’s Board ESG Committee, stated, "Expanding the sustainability report into an ESG Report reflects the company’s and the board’s strong commitment to ESG management. It serves as a fundamental resource for communication with stakeholders from an ESG perspective, and we will continue to develop it further."

In this report, SK Innovation categorized ESG management into three stages: interest and declaration in ESG, ESG execution and performance creation, and ESG leader positioning. The company self-analyzed that it is currently in the second stage, execution and performance creation.

Furthermore, SK Innovation established and disclosed specific execution plans for each ESG category. First, in the E (Environment) sector, it presented participation in global climate change response for achieving Net Zero and concrete plans for transforming its business structure toward eco-friendly green businesses.

In the S (Social) sector, under the direction of ESG promotion involving all stakeholders, it proposed maximizing employee happiness and building and strengthening an ESG ecosystem within the business value chain as execution plans.

Lastly, for G (Governance), the goal is to establish a board-centered management system to lead ESG management, with plans to strengthen board leadership and enhance global compliance.

In particular, through this report, SK Innovation provided detailed explanations on how the company is responding to three major company-wide focus areas: ▲strengthening climate change response ▲global pandemic response ▲governance innovation.

Kim Jun, President of SK Innovation, emphasized, "The massive wave of social and economic paradigm shifts centered on eco-friendliness is both a crisis and an opportunity. Moving forward, we will pursue comprehensive and innovative initiatives unlike before to create sustainability for both the company and society."

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