LIG Nex1 Receives Thumbs Up in ESG Evaluation Again This Year... Achieves Comprehensive A Grade for 3 Consecutive Years

LIG Nex1 Pangyo House.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Defense industry company LIG Nex1 has once again secured a ‘Comprehensive A Grade’ in ESG evaluation this year.

LIG Nex1 (CEO Kim Ji-chan) announced on the 1st that it received an A grade in the E (Environment) category, an A+ grade in the S (Social) category, and an A grade in the G (Governance) category in the 2022 ESG evaluation announced by the domestic ESG evaluation agency Korea ESG Standards Institute (KCGS), achieving a ‘Comprehensive A Grade’ for three consecutive years.

Korea ESG Standards Institute classified the ESG levels of 974 domestic listed companies this year into seven levels (S, A+, A, B+, B, C, D) and assigned grades accordingly.

Due to the revision of the evaluation model, companies that failed to advance their management systems generally showed a decline in grades, but LIG Nex1 achieved a comprehensive A grade for three consecutive years.

LIG Nex1 is particularly focusing on strengthening ISO management systems related to environment and health, such as obtaining the international standard ‘ISO 14001’ certification for environmental management systems and the international standard ‘ISO 45001’ certification for occupational health and safety management systems.

Following last year, LIG Nex1 also established an additional 10 billion KRW scale ESG management support win-win fund with Shinhan Bank this year. It is also striving to create corporate social value through operating a dedicated organization for social contribution activities specialized in the defense industry and conducting social contribution activities.

LIG Nex1 is leading the advancement of governance through sustainable ESG management activities. It has established a ‘Corporate Governance Charter’ and set up an ESG Committee to build a management system for managing ESG risks at the board level. It is also working on building a comprehensive process that includes mutual communication with all stakeholders.

LIG Nex1 was the only company in the defense industry to receive the highest grade, ‘AA grade,’ in the ‘2022 Second Half ESG Evaluation’ announced by Sustainvest, an ESG evaluation and data analysis agency. Sustainvest evaluates the ESG management level of about 1,000 listed companies annually, and the results are used by major institutional investors such as pension funds and asset management companies for investment decisions.

A LIG Nex1 official said, “It seems that our efforts focusing on non-financial performance rather than relying solely on short-term, quantitative indicators of the company have been well evaluated,” and added, “We will fulfill our social responsibility so that sustainable management can take root throughout society through the spread of ESG management culture.”

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