KCC Publishes 9th 'Sustainability Report'

A KCC employee is viewing the recently published interactive PDF format sustainability report on a monitor.

On the 27th, KCC announced that it has published its sustainability report for the year 2023 as an interactive PDF.

Since its first publication in 2015, this year's report, the ninth edition, introduced an interactive PDF format that reduces environmental impact and enhances convenience and usability for readers through various features. This sustainability report provides detailed information on quantitative indicators such as financial performance, credit ratings, and market share for investors, as well as non-financial perspectives on management and activity outcomes. It also includes results from key activities over the past year, such as ▲establishing a carbon neutrality roadmap ▲managing workplace safety and health risks ▲posting ethics/compliance management guidelines ▲and conducting ESG (Environmental, Social, Governance) assessments of the supply chain.

In 2022, KCC declared its ‘Environmental Management Policy,’ invested 178.8 billion KRW, an increase of 8.8 billion KRW (5.2%) compared to the previous year, focusing on eco-friendly technologies and the development of high-quality, high-functionality products by building a carbon neutrality roadmap and establishing climate change response strategies. The report also revealed that not only research and development (R&D) for environmentally friendly technological innovation but also all employees at domestic and overseas business sites are practicing minimizing environmental impact based on their understanding of important environmental issues.

KCC explained that it is fulfilling its social responsibilities by responding to the increasing social demand for safety and health, expanding management and inspection of supply chain ESG, engaging in win-win growth activities, and continuing social contribution activities linked to its business. Notable social contribution projects include the ‘Saetteul Village’ project, ‘Warm Neighborhood Forest’ project, ‘Firefly House’ project, and ‘Peace Dream Forest’ project, which improve the living environment of marginalized groups through public-private cooperation.

KCC emphasized in its sustainability report that it continues efforts to protect shareholders’ rights and operate transparent governance. To maximize shareholders’ voting rights, it operates an electronic voting system and has introduced an online dividend inquiry service to enhance convenience and eco-friendliness for shareholders. Additionally, KCC recognizes that ethical management is its highest priority and discloses ethics and compliance regulations to guide employees on relevant laws and guidelines.

KCC’s sustainability report, published annually, has won the Korean Readers’ Choice Awards for Sustainability Reports for eight consecutive years as of November 2022. It has also been recognized globally for excellence in content and design by receiving the Silver Award at the Vision Awards hosted by LACP (League of American Communications Professionals), the Gold Award at the Spotlight Awards, and the Grand Prize at the ARC Awards hosted by MerComm in the United States.

A KCC official stated, “Under the management philosophy of ‘Creating Value for a Better Life,’ KCC publishes a sustainability report every year to transparently disclose the company’s management performance and ESG management achievements, communicating with stakeholders. Starting this year, as part of our eco-friendly policy and digital transformation, we have published the report in a digital format rather than a booklet to enhance convenience for shareholders and stakeholders.”

Meanwhile, in 2021, the Financial Services Commission mandated that companies listed on the Korea Stock Exchange with assets exceeding 2 trillion KRW must disclose sustainability reports by 2025, and all listed companies must do so from 2030. As of the end of 2022, 113 companies with assets over 2 trillion KRW have disclosed sustainability reports. Thirty-five companies have disclosed reports for three consecutive years.

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