Sampyo Cement Receives 'Integrated A' Grade in ESG Evaluation

Environmental A, Social A+, Governance A Achieved

Sampyo Cement announced on the 3rd that it received an overall A grade in the 2023 ESG (Environmental, Social, and Governance) evaluation announced by the Korea Corporate Governance Service (KCGS).

The Korea Corporate Governance Service conducts a comprehensive evaluation of ESG-related management for domestic listed companies every year, grading them into seven levels from S to A+, A, B+, B, C, and D.

This year's evaluation was conducted on 1,049 companies. Sampyo Cement achieved an overall A grade by receiving an A in the environmental sector, A+ in the social sector, and A in the governance sector.

Greenhouse gas reduction was cited as a representative achievement. Last year, Sampyo Cement promoted fuel switching and the production of eco-friendly blended cement, reducing total greenhouse gas emissions, including direct and indirect emissions, to 5,727,000 tons. This represents a 3.12% decrease compared to the previous year.

Large-scale investment in eco-friendly facilities is also noteworthy. Sampyo Cement plans to invest approximately 140 billion KRW in high-efficiency environmental facilities. Recognized for its contribution to establishing a resource-circulating society, Sampyo Cement received the Environmental Conservation Practice Award at the 26th Gangwon Special Self-Governing Province Environmental Awards held last June.

Additionally, it signed a “Voluntary Fundraising Agreement to Expand Community Contributions” with Samcheok City, Gangwon Province, where its cement production plant is located, and contributed 3.7 billion KRW to the fund last year.

To improve governance, in November of last year, Sampyo Cement became the first cement company to establish an ESG Committee within its board of directors. The ESG Committee is composed entirely of outside directors, which has been evaluated as strengthening responsible management.

Baek Dong-hwan, CEO of Sampyo Cement, said, “We will practice corporate social responsibility management and further strengthen the foundation for sustainable growth,” adding, “We will focus on presenting new leaps and development plans by solidifying corporate accountability through transparent ESG management.”

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