SKC Achieves 'A' Grade in MSCI ESG Evaluation

MSCI ESG Rating Achieves 'A' Grade
From 'BB' in 2021 to 'A' in 2023 Increase

SKC has been recognized for its outstanding ESG management performance by Morgan Stanley Capital International (MSCI), a global ESG rating agency.

On the 1st, SKC announced that it received an ‘A’ rating in this year’s MSCI ESG evaluation. Following last year’s upgrade from ‘BB’ to ‘BBB’, SKC achieved another rating increase this year. MSCI’s ESG evaluation is regarded as the most credible indicator for assessing the ESG management level of major global listed companies.

Despite rapidly advancing business model innovation focused on secondary batteries, semiconductors, and eco-friendly materials, SKC led the rise in its evaluation rating through continuous ESG management execution. Under the ESG vision of ‘ESG Solution Provider for the Next Generation,’ SKC has been consistently engaging in ESG activities across all areas together with seven major investees, including SK Nexilis, SK Enpulse, and SK PIC Global.

In the Environmental (E) area, SKC was recognized for expanding investments in clean technology and efforts in water recycling. Last month, SKC announced plans to invest a total of 2 trillion KRW by 2027 in secondary batteries and eco-friendly materials that contribute to greenhouse gas reduction. SKC is particularly strengthening environmental protection throughout all production processes, such as fully applying RE100 to SK Nexilis’s new copper foil factory. Additionally, SKC plans to increase the water recycling rate from 21% in 2022 to 55% by 2025, thereby reducing water intake and contributing to sustainable water resource management.

In the Social (S) area, SKC was acknowledged for its business model innovation centered on ESG materials as well as ongoing efforts in chemical safety management. SKC’s chemical business investee, SK PIC Global, discloses MSDS (Material Safety Data Sheets) on its website and continues risk reduction activities such as replacing hazardous substances with general substances in manufacturing processes.

In the Governance (G) area, SKC is continuously generating results for board-centered management and ethical management. Having declared governance innovation beyond global standards in 2021, SKC has worked to enhance board independence and diversity by appointing an outside director as chairperson, increasing the proportion of female directors, and introducing the Board Skills Matrix (BSM). Furthermore, earlier this year, SKC strengthened stakeholder trust by obtaining the Anti-Corruption Management System certification (ISO 37001).

An SKC official stated, “The acquisition of the MSCI A rating is a recognition of the results of our sustained efforts in sustainable management, and we will continue to strive to strengthen stakeholder trust through transparent ESG management activities.”

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