Hyosung Advanced Materials and Hyosung TNC Receive 'BBB Rating' in MSCI ESG Evaluation

Carbon Management Efforts Lead to Upgrade from 'BB Grade' to 'BBB Grade'

[Asia Economy Reporter Choi Seoyoon] Hyosung Group announced on the 1st that its affiliates Hyosung Advanced Materials and Hyosung TNC have achieved a ‘BBB rating,’ one level higher than last year, in the Morgan Stanley Capital International (MSCI) ESG evaluation.

The MSCI ESG Ratings, developed for building and managing investment portfolios, is a representative global ESG evaluation index that serves as an investment benchmark for major global investment firms. Since 1999, MSCI has annually evaluated and disclosed the ESG (Environmental, Social, Governance) performance of publicly listed companies worldwide.

Hyosung Advanced Materials was recognized for its carbon management efforts due to its lower greenhouse gas emissions compared to peers in the same industry. After receiving a ‘B rating’ in its first evaluation in 2019 and a ‘BB rating’ in 2020, it received a ‘BBB rating’ in the 2021 evaluation, showing an improvement in rating every year.

Hyosung TNC also received a high evaluation for its industry-leading carbon reduction strategies and their implementation, achieving a ‘BBB rating’ in the 2021 evaluation following ‘BB ratings’ in 2019 and 2020.

The ‘BBB ratings’ received by the two companies are among the top levels within the global raw materials chemical industry peers.

An ESG official from Hyosung Group stated, “We believe the establishment of the ‘Green Management Vision 2030’ and the company-wide efforts to reduce greenhouse gas emissions were highly appreciated,” adding, “We will continue to fulfill our roles and responsibilities regarding ESG and strive to become a leading company in ESG management.”

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