SK chemicals Achieves Upgraded “AA” MSCI ESG Rating

첨부파일 : 2024-03-11.jpg

• Achieving an improved MSCI grade for four consecutive years, SK chemicals is evaluated as a global ESG leader in the chemical industry.
• Being also included in the DJSI Korea Index for three consecutive years, it has received the highest scores among chemical companies in Korea.

SK chemicals has continuously received positive evaluations from global rating organizations, particularly marking an upward trend in MSCI evaluation ratings.

SK chemicals announced on the 11th that it had achieved an overall AA grade in the 2023 ESG evaluation conducted by Morgan Stanley Capital International (MSCI), marking a one-notch improvement from the previous year.

MSCI has been assessing core ESG issues of publicly listed companies worldwide annually since 1999, and rates its findings in seven grades from CCC to AAA. The AA grade signifies the leading group alongside the highest AAA grade, with only the top 10% of chemical companies worldwide achieving an AA rating.

Starting with a BB grade in its first assessment in 2020, SK chemicals has been acknowledged for its sustained ESG efforts and achievements over the years, improving its grade annually: BBB in 2021, A in 2022, and now AA in 2023.

The recent MSCI assessment acknowledged SK chemicals for expanding its environmental management system to 92% of its operations, including obtaining ISO 14001 at its Andong and Cheongju factories. Positive assessments were also due to improvements in various pollution control indicators such as waste recycling rates and air pollutant emissions.

Additionally, setting and persistently implementing targets for greenhouse gas reduction and hazardous substance replacement plans by 2025 significantly contributed to its evaluation as a global ESG leader.

Moreover, SK chemicals has been included in the DJSI Korea Index for three consecutive years. The DJSI is a sustainability assessment and investment index that considers a company's economic performance and Environmental, Social, and Governance (ESG) achievements. The financial information provider S&P Global publishes it annually.

Notably, SK chemicals received the highest score among domestic chemical companies and was selected for the first time as a member of the S&P Global Sustainability Yearbook 2024, announced by S&P Global on February 7.

SK chemicals plans to continue its management activities reflecting non-financial factors such as environment, society, and governance, which significantly impact corporate value and sustainable growth potential.

CEO Jae-hyun Ahn of SK chemicals stated, "Our bold portfolio reconfiguration and continuous efforts to reduce carbon emissions in addressing the social issue of plastic waste have led to positive ESG evaluation results. We will strive harder to achieve even more meaningful outcomes across all areas of environment, society, and governance through ESG-centric management activities and decisions."

[Photo description: SK chemicals was selected for the first time as a member of the S&P Global Sustainability Yearbook 2024, announced by S&P Global in February.]