Hyundai Motor Securities, the Only Securities Firm to Receive ESG Integrated 'A' Grade for Two Consecutive Years
[Asia Economy Reporter Park Jihwan] Hyundai Motor Securities announced on the 27th that it received an integrated A grade for two consecutive years in the ESG evaluation announced annually by the Korea Corporate Governance Service (KCGS). The integrated 'A' grade in the ESG evaluation is the highest grade among securities firms, and receiving it for two consecutive years is a unique record in the industry.
ESG stands for Environmental, Social, and Governance, encompassing the concept of socially responsible investment and management. It is an indicator that shows how environmentally friendly a company is, how much it fulfills social responsibilities, and whether it ensures independence and transparency in decision-making within governance.
The Korea Corporate Governance Service (KCGS) has been evaluating the sustainability management level of domestic listed companies annually since 2003. It induces sustainable management of companies and is used as a non-financial indicator that capital market participants can recognize to make investment decisions based on companies' ESG management levels.
In particular, Hyundai Motor Securities received the highest grade 'A+' in the S (Social) category, which evaluates workers, consumer protection activities, and community contributions, and an 'A' grade in the G (Governance) category for two consecutive years. In the E (Environmental) category, it improved by one grade to 'B+' compared to last year.
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Choi Byungchul, CEO of Hyundai Motor Securities, said, "We are actively engaged in underwriting and acquiring ESG bonds, as well as financing projects for hydrogen economy infrastructure, and strengthened ESG investment-related research functions, publishing an integrated ESG research report last September." He added, "We will strive to ensure that ESG is reflected in all areas of our business."
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