The South Korean division of the Carbon Disclosure Project awarded prizes to local companies in recognition of their efforts to fight climate change, at a ceremony held Tuesday.
The 2019 CDP Korea Award recipients included SK hynix, LG Electronics and KB Financial Group.
SK hynix received the grand prize, granted to a company rated “Leadership A” in the area of water security.
The award is for companies making top-class efforts to recycle and conserve water resources in industrial facilities.
SK hynix has vowed to increase the amount of water it recycles at its domestic production sites to a daily average of 62,000 tons by 2022.
In 2019 alone, the chipmaker saved 2.4 million tons of water, owing to its high-tech water treatment and monitoring system.
In the climate change program, SK hynix has maintained its position in the Hall of Fame Platinum Club since 2013, which is reserved for companies making consistent efforts to lower carbon emissions.
LG Electronics has joined the Carbon Management Honors Club, recognized as an outstanding company in carbon management.
LG has announced its Zero Carbon 2030 initiative with a goal of reducing carbon emissions at its production sites by 50 percent over 2017 levels.
KB Financial also made the Carbon Management Honors Club for the third straight year and said it would continue its efforts to strengthen its sustainable management initiatives.
KB Financial is pushing ahead with ESG management, a business model that focuses on whether companies comply with environmental, social and governance standards. In March, the financial holding firm established an ESG committee, led by Chairman Yoon Jong-kyoo and all members of the board, in a bid to spur ESG-related corporate activities.
CDP, a nonprofit organization established in the UK in 2000, is one of the most prestigious sustainability evaluating agencies, along with the Dow Jones Sustainability Indices.
As of 2019, 8,400 companies from 92 countries around the world participated in the CDP, and about 100 of those were in Korea.
By Song Su-hyun and Choi Jae-hee (email@example.com