Noru Holdings and Noru Paint Achieve 'A' Grade in ESG Evaluation

Environment A·Social A+·Governance B+, Ratings Upgraded Across All Areas Compared to Last Year, Industry's Highest Grade

CEO Jo Seong-guk (left) and Labor Union Chairman Hong Soon-cheol pose at the joint labor-management declaration ceremony of Noroo Paint Co., Ltd. for the activation of ESG management.
[Photo by Noroo Paint]

[Asia Economy Reporter Kim Jong-hwa] In the recent announcement of the '2021 ESG Evaluation and Rating Disclosure of Listed Companies' by the Korea Corporate Governance Service (KCGS), Noroo Group's holding company, Noroo Holdings Co., Ltd., and its main affiliate, Noroo Paint Co., Ltd., each received an integrated grade of A.

Both companies received an A in the Environmental (E) category, an A+ in the Social (S) category, and a B+ in the Governance (G) category of the ESG evaluation, earning the industry's highest level of 'Integrated A Grade.'

According to the Korea Corporate Governance Service, this year's ESG evaluation was conducted on 950 listed companies, and based on the evaluations in each category, a total of seven grades?S, A+, A, B+, B, C, and D?were assigned and disclosed for 765 companies listed on the Korea Stock Exchange. Among these 765 companies, about 22%, or 171 companies, received an A grade, while 58% were rated B or below.

The Korea Corporate Governance Service is a leading domestic ESG evaluation institution that evaluates, researches, and investigates corporate governance and social responsibility, and is regarded as the most credible among domestic organizations.

Since early this year, Noroo Group has actively worked to build consensus through a series of activities to help employees understand, including establishing a dedicated department, enacting a Corporate Governance Charter, preparing a Sustainability Management Report, providing ESG education, and issuing a joint labor-management declaration. In addition, through its Bio Convergence Research Institute, the group is actively expanding its ESG management efforts by conducting research and development of future eco-friendly materials.

At the group’s founding anniversary ceremony on the 1st, top management communicated with employees about the importance of ESG management and response strategies, officially declaring the promotion of 'Global ESG Management' going forward.

A Noroo Group official stated, "As a representative color company of Korea, we will fulfill our social responsibilities based on ESG management," adding, "We will continue to discover and implement ESG-related agendas to leap forward as a global company."

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