Kumho Petrochemical Publishes Sustainability Management Report Highlighting ESG Achievements

Chairman Park Chang-gu "Expecting Higher Level ESG Management Practices"

Kumho Petrochemical announced on the 14th that it has published the "Sustainability Management Report 2023," which contains last year's Environmental, Social, and Governance (ESG) performance and sustainability information.

The report encompasses Kumho Petrochemical's sustainability management strategies, goals, and key achievements. Specifically, it identifies five major issues: ▲ implementation of greenhouse gas reduction strategies ▲ improvement of energy efficiency and reduction of consumption ▲ strengthening of a sustainable business portfolio ▲ establishment of a circular economy system ▲ management of safety and health risks, presenting response directions and future plans for each issue.

Kumho Petrochemical Sustainability Management Report.
[Photo by Kumho Petrochemical]

In line with the "2050 Carbon Neutrality Scenario" roadmap, Kumho Petrochemical is promoting activities to reduce greenhouse gas emissions such as process improvements, transition to zero-emission vehicles, and renewable energy production. Additionally, to advance sustainable business, the report introduces the current status of research and development aimed at expanding NB latex, recycled styrene (RSM), and SSBR (synthetic rubber) using bio-based raw materials, which can reduce environmental impact.

This report reflects the opinions of ESG Committee members, who possess expertise in climate change, environment, finance, and risk fields. The ESG Committee, the highest decision-making body for Kumho Petrochemical's ESG management, was involved from the initial production stage of the report, reviewing the double materiality assessment process and the overall selection of the five major issues.

The common ESG information indicators for affiliates have also significantly expanded from about 60 last year to approximately 100 this year. Since last year, Kumho Petrochemical's Sustainability Management Report has disclosed detailed ESG information of group affiliates, including Kumho Petrochemical itself, providing stakeholders with comprehensive information.

Park Chan-gu, Chairman of Kumho Petrochemical Group, stated, "I hope Kumho Petrochemical Group will practice a higher level of ESG management in the future to deliver a better world to future generations."

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