Lotte Chemical Achieves MSCI ESG Rating of BBB

[Asia Economy Reporter Kim Hyewon] Lotte Chemical announced on the 12th that its Morgan Stanley Capital International (MSCI) ESG (Environmental, Social, Governance) rating rose from BB in 2020 to BBB in 2021.

The MSCI ESG rating evaluates publicly listed companies worldwide by industry, assessing the Environment, Social responsibility, and Governance sectors, assigning ratings on a 7-level scale from C to AAA.

In this evaluation, Lotte Chemical received favorable assessments in carbon emissions and clean technology opportunities, including the establishment of a CCU pilot facility at the Yeosu plant, the use of low-carbon alternative energy through a hydrogen growth roadmap, and investments in related clean technologies. Additionally, the company was recognized for strengthening disclosure capabilities by establishing an Environmental Management System (EMS), obtaining ISO14001 certification across all business sites, and participating in international initiatives such as the Carbon Disclosure Project (CDP).

The Lotte Group's chemical division introduced the ESG management strategy initiative "Green Promise 2030" in February last year to promote sustainable growth and expand eco-friendly businesses, setting and specifying tasks for eco-friendly business directions. They established four core tasks: strengthening eco-friendly businesses, expanding resource circulation, responding to the climate crisis, and creating a green ecosystem. The plan includes ▲achieving eco-friendly business sales of 10 trillion KRW by 2030 ▲expanding recycled materials by 1 million tons ▲and pursuing carbon-neutral growth without an increase in carbon emissions by 2030.

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