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Samsung Display joins responsible business alliance

Firm puts more focus on ESG for accountable global supply chain

Samsung Display CEO Choi Joo-sun (Samsung Display)
Samsung Display CEO Choi Joo-sun (Samsung Display)
Samsung Display’s chief executive officer Choi Joo-sun is aiming to further embolden the company’s environmental, social and governance (ESG)involvement beginning this year.

As part of this drive, the company announced Sunday that it joined the Responsible Business Alliance.

The RBA is an international industry coalition that holds its members accountable to a code of conduct that aspires for a higher level of corporate ethics. More than 160 global companies are its members, including Samsung Electronics, Apple and Intel.

“As a global leader in display industry, Samsung Display has been prioritizing environmental and social values in the entire process of product manufacturing” said Shin Jae-ho, executive vice president and the head of the display management office at Samsung Display.

“Moreover, we will further evolve into a global company that earns trust from our customers and members of society, and is dedicated to the development and happiness of humanity” Shin said.

As a member of RBA, Samsung Display said that it will gain the momentum to go beyond just conforming to the relevant domestic laws, and thoroughly incorporate global expectations into its management strategy with regard to the five critical sections of the RBA Code -- labor, health and safety, environment, business ethics, and management systems.

Samsung Display said that its efforts to abide by the global ESG standards will go beyond its domestic offices. According to the company, it plans to carry out onsite audits and objective due diligence on management systems and working environment at its overseas offices, by undergoing the Validated Assessment Program from reputable organizations.

In multilateral approaches to implement systemic ESG management, Samsung Display newly organized a Sustainable Management Secretariat and formed a consultative body on ESG strategy involving its entire business departments.

This is according to the mid- and long-term vision Samsung Display laid out earlier this year, in five focus areas: climate change, resource circulation, sustainable products, win-win collaboration with partners, and local community.

By Lim Jeong-yeo (kaylalim@heraldcorp.com)
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