Kang Sung-chul (right), head of the strategic management division of LG International and Shin Jhin-young, president of the Korea Corporate Governance Service, pose for a photo at the 2020 Outstanding Companies Awards ceremony. (LG International)
LG International has been recognized for its practices in environmental responsibility, social responsibility and governance at the 2020 Outstanding Companies Awards hosted by the Korea Corporate Governance Service, the company said Tuesday.
According to the commodity trading and mining affiliate of LG Group, it received an “A” ESG rating from the KCGS, an improvement from a B+ from a year earlier. Specifically, LG International was given an A in environmental responsibility, an A+ in social responsibility and an A in governance.
This year, KCGS evaluated the ESG scores of some 908 listed companies and financial companies in Korea. A high ESG rating is deemed a criterion to judge stock valuation for long-term investors.
“ESG is a key condition for LG International’s sustainable growth and survival, so the company will endeavor to establish a high level of ESG management based on a transparent and solid governance structure,” said Kang Sung-chul, head of strategic management division.
As part of its EGS efforts, LG International made investments in renewable energy projects and created a special task force dedicated to the environment.
By Kim Byung-wook (email@example.com)