SK Siltron Publishes Sustainability Management Report Aligned with ISSB Standards

The First Case in the Wafer Industry

SK Siltron announced on the 20th that it has published a sustainability management report that proactively adopts the 'International Financial Reporting Standards (IFRS) Sustainability Reporting Framework' announced by the International Sustainability Standards Board (ISSB), becoming the first in the global wafer industry to do so.

ISSB is an organization established under the IFRS Foundation in 2021 to present international standards for sustainability reporting. It finalized and announced the IFRS sustainability reporting standards, which will become mandatory from 2025, in June. Based on the IFRS concept adopted as the financial reporting standard in 140 major countries, it requires the provision of sustainability information. Currently, domestic financial authorities are reviewing whether to adopt this standard.

SK Siltron 2023 Sustainability Management Report Cover Image / [Image provided by SK Siltron]

This year, SK Siltron strengthened disclosures in six key focus areas?climate change response, resource circulation, human capital, sustainable supply chain, safety and health, and ethics and compliance?by adopting the ISSB's IFRS Sustainability Reporting Framework. The report particularly reflects the company's commitment to resource circulation among its sustainability enhancement activities. In line with the 'Lowest Carbon Wafer Supplier' strategy, which has been ongoing since last year, it includes efforts to reduce carbon emissions as well as targets for water usage reduction and waste recycling rates.

The company plans to reduce the water intake intensity (water purchase volume/sales) by 10% by 2030 compared to last year through eco-friendly processes and expand the water recycling rate to 38.8%. This is a proactive measure to reduce water usage in response to water shortages caused by climate change. Additionally, by increasing the waste recycling rate, SK Siltron aims to upgrade the zero waste to landfill (ZWTL) Gold rating of all its business sites to the highest Platinum rating by 2030.

The climate change response report (TCFD report), first published last year, was integrated into this year's sustainability management report. The TCFD report applied the latest S&P Global scenario analysis model, the Shared Socioeconomic Pathways (SSP), and included analysis results and response strategies for eight physical risks: floods, abnormal temperatures, sea level rise, droughts, wildfires, typhoons, water shortages, and river flooding.

An SK Siltron official stated, "By proactively adopting the IFRS Sustainability Reporting Framework and reducing carbon emissions, we will maintain the highest competitiveness in the global wafer industry."

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