Cheil Worldwide Receives 'A Grade' in KCGS ESG Evaluation... "High Ratings in Social and Governance"
Establishment of Dedicated Safety Management Team... Establishment of Business and Filming Site Management System
[Asia Economy Reporter Lim Chunhan] Cheil Worldwide announced on the 24th that it received an A (Excellent) grade in the evaluation announced by the Korea Corporate Governance Service (KCGS), a leading domestic ESG (Environmental, Social, Governance) rating agency.
In this year's evaluation, Cheil Worldwide received an A (Excellent) grade in the Social and Governance categories, and a B+ (Good) grade in the Environmental category. In the Social category, the company strengthened responsible management for safety at advertising production sites by establishing a dedicated safety management team to build a safety management system at workplaces and filming locations. Additionally, it was recognized for its efforts in fair trade and mutual growth, having achieved the highest grade in the mutual growth index and fair trade agreement for several years.
In the Governance category, the company received favorable evaluations for establishing a company-wide sustainable management system by appointing the Chief Financial Officer (CFO) as the head of the ESG office, operating regular meetings to discuss ESG issues, and regularly and ad hoc reporting the contents to top management and the board of directors to promote more responsible and communicative sustainable management.
In the Environmental category, Cheil Worldwide was highly rated for being the first in the advertising industry to sign an 'Eco-friendly Practice Agreement' with 96 partner companies to respond to climate change, for efforts to reduce greenhouse gas emissions at filming sites, for conducting the 'Green Cheil' campaign aimed at reducing greenhouse gases within office spaces for employees, and for proactively proposing eco-friendly campaigns to various clients to enable many people to practice environmental protection.
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A Cheil Worldwide official stated, “In a situation where demands from various stakeholders for the company's sustainable management are increasing, we plan to establish an ESG management system and continuously strengthen responsible management.”
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