KCC Publishes 'Sustainability Report' Highlighting ESG Management Achievements

KCC Sustainability Report Cover.
Photo by KCC

[Asia Economy Reporter Kim Jong-hwa] KCC has published the 'KCC 2021/22 Sustainability Report' to transparently disclose its management performance from the previous year to stakeholders such as shareholders and customers.

KCC annually releases a report on its sustainability status to domestic and international stakeholders in accordance with international standards such as the GRI (Global Reporting Initiative), ISO26000, and the UN Sustainable Development Goals (UN SDGs). Since its first publication in 2015, this is the eighth edition. The report published this year contains details on KCC's sustainable management activities and their outcomes in 2021.

The Sustainability Report includes general management information such as consolidated financial statements and business status, as well as detailed introductions to KCC’s sustainable management system and ESG management activities. In particular, this report categorizes ESG management activities directly into three sections: △Environment △Social △Governance, disclosing specific activities and achievements in detail.

In the environmental sector, KCC recognizes that efforts and activities for environmental conservation are essential requirements for a sustainable future and practices eco-friendly management at all domestic and overseas business sites. Through an environmental investment cost of 4.6 billion KRW, it minimizes environmental impacts from corporate activities and reduces emissions of environmental pollutants such as chemical substances, water pollutants, air pollutants, and waste. To promote environmentally friendly technological innovation, R&D capabilities have also been strengthened. By investing 169.9 billion KRW, an increase of 18.5 billion KRW (12.22%) compared to the previous year, KCC is developing eco-friendly technologies and high-quality, high-functionality products, which are core driving forces for a sustainable company.

In the social sector, KCC has continuously pursued social contribution activities linked to its business. It has consistently participated in projects such as the 'Saetteul Village' project, which improves housing environments for marginalized groups through public-private cooperation, the 'On (?) Neighborhood Forest' project, and the 'Firefly House' project, while also continuously discovering new social contribution projects like the 'Peace Dream Forest' project. By providing KCC’s eco-friendly paints and building materials and supporting home renovations, KCC is leading efforts to create a society that lives together with local communities.

In the governance sector, efforts continue to protect shareholders' rights and operate transparent governance. KCC prioritizes shareholders' rights and values, operating an electronic voting system to maximize shareholders' exercise of voting rights. The board of directors, the highest decision-making body, pursues a balanced protection of rights between the company and stakeholders through smooth communication between outside directors with abundant expertise and practical experience and management, based on independence and transparency. Furthermore, recognizing that ethical and compliance management is the highest value, KCC operates a fair trade self-compliance program and focuses on employee education and awareness-raising activities.

A KCC official stated, "Through this report, we have transparently disclosed KCC’s activities and achievements over the past year, including ESG activities that stakeholders consider important," adding, "KCC aims to realize sustainable development by strengthening ESG management, prioritizing stakeholders, and leading the responsibilities and roles of a sustainable company through continuous investment and securing excellent capabilities."

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