SK Chemicals Receives 'BBB' Rating in MSCI ESG Assessment... Highest Level in Domestic Chemical Industry

World's First Mass Production of Chemical Recycled Copolyester
Excellent Evaluation from Carbon Neutrality Policy Perspective

[Asia Economy Reporter Hwang Yoon-joo] SK Chemicals, a leader in ESG (Environmental, Social, Governance) management in the chemical industry, received a meaningful evaluation from an overseas rating agency.

SK Chemicals announced on the 10th that it received a comprehensive 'BBB' rating, two levels higher than last year, in the 2021 ESG evaluation conducted by Morgan Stanley Capital International (MSCI).

MSCI's ESG rating is conducted annually since 2019 by the global financial firm MSCI, which categorizes publicly listed companies worldwide by industry and evaluates 35 key issues across the areas of Environment, Social responsibility, and Governance. The results are published every year. MSCI's standards are very stringent, as they directly collect and verify individual companies' ESG status through websites and other means. Only less than 10% of companies receive top-tier ratings (leader group) among the seven rating levels from CCC to AAA. Due to its credibility, MSCI ratings are widely used in global ESG investments.

SK Chemicals achieved the 'BBB' rating just one year after its first evaluation in 2020. The MSCI 'BBB' rating is on par with leading global companies such as Amazon and Estee Lauder, representing the highest level among domestic chemical companies.

According to the latest MSCI report, SK Chemicals was recognized for △ the excellence of its 'eco-friendly technologies,' including the world's first commercialization of chemically recycled copolyester and the development of bio-based chemical materials △ and its '2050 carbon neutrality policy,' which includes a 50% reduction in carbon emissions by 2030. In particular, in the carbon emissions category, a major evaluation item in ESG ratings, SK Chemicals scored within the top 10% among global raw material chemical companies, being evaluated as having a world-class climate crisis response strategy.

An SK Chemicals official stated, "Receiving the 'BBB' rating in the MSCI ESG evaluation places us within the top 19 among global raw material chemical industries," and added, "We will continue to strive to discover new businesses with high future growth potential that align with ESG management values."

Meanwhile, SK Chemicals is significantly expanding its business in line with ESG values. In October last year, it began mass production of 'ECOTRIA CR,' a copolyester applying chemical recycling technology for the first time in the world. In March this year, it plans to commercially produce PO3G (Polyoxymethylene Ether Glycol), a 100% bio-based new material made from corn.

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