● Rated A in MSCI ESG assessment··· BB in 2021 → BBB in 2022 → A in 2023

● Given credit for persistent efforts and achievements across all ESG domains··· committed to further driving corporate sustainability

SKC (President & CEO Woncheol Park) has been touted for excellence in ESG management by Morgan Stanley Capital International (MSCI), a global ESG rating agency.

SKC announced on August 1 that the company received an A rating in this year’s MSCI ESG assessment, which is another jump from the previous year’s rise from BB to BBB. MSCI’s ESG ratings index is known to be the most trusted benchmark of ESG management by major listed companies worldwide. 

While rapidly forging ahead with a business model innovation with focus on EV batteries,  semiconductors, and eco-friendly materials, SKC remain committed to ESG practices, which resulted in the higher MSCI rating. Under its ESG vision of being a ESG Solution Provider for the Next Generation, SKC has been active across all ESG domains together with seven major subsidiaries including SK nexilis, SK enpulse, and SK picglobal.

In the environmental (E) domain, SKC was given credit for its efforts to ramp up investments in clean technologies and recycle water resources. Last month, the company unveiled a plan to invest a total of 2 trillion won in EV batteries and eco-friendly materials conducive to reducing greenhouse gas (GHG) emissions. In particular, SKC is beefing up environmental safeguards across all production processes, incorporating RE100 initiatives in SK nexilis’ new copper foil plant. SKC also vows to raise the water recycling ratio from 21% in 2022 to 55% by 2025 to reduce water consumption and contribute to sustainable water resource management.

In the society (S) domain, SKC is focused on ESG material-centered business model innovation and is making consistent efforts to ensure the safety of chemicals were given credit. SK picglobal, a chemical arm of SKC, has tried to mitigate related risks, publicly posting MSDSs (material safety data sheets) in its website and replacing hazardous chemicals used in manufacturing processes with safer substances. 

In the governance (G) domain, SKC is noted for its continued achievements in terms of board-centered management and ethical practices. Announcing in 2021 that governance innovation would do more than simply meeting the global standards, SKC has worked hard to ensure greater independence and diversity in its board of directors, appointing an independent director as the board chairman, engaging more female directors in the board, and adopting the Board Skills Matrix (BSM) to name a few. Furthermore, the company won the ISO 37001 anti-corruption management system certification to build a stronger bedrock for greater trust from stakeholders.

“The A MSCI rating is the credit given to us for our persistent sustainability initiatives and we will remain committed to transparent ESG management practices to earn a stronger trust of the stakeholders,” an official at SKC said. [End]