LG International Wins the “Excellent Corporation Award” at the Outstanding ESG Companies Awards 2020
LGI has been chosen as an excellent company in the ESG field (Environmental, Social, Governance).
Organized by the Korea Corporate Governance Service (KCGS), LGI proudly won the excellent company award at the Outstanding ESG (Environmental, Social, Governance) Companies Awards 2020 that took place at the Korea Exchange building in Yeouido, Seoul.
This year, LGI received the grade A in the environmental responsibility field, A+ in the social responsibility field, and an A in the governance as the ESG evaluation results, and thus achieved an overall grade A which was an improvement from last year’s overall grade B+.
Issued by the KCGS since 2011, the ESG grade has been announced for listed companies in Korea to evaluate their ESG (Environmental, Social, Governance) levels. It induces the sustainable management of companies and is used as an index where the participants of the capital market can recognize the ESG management levels of the different companies. This year alone, the grade evaluation was carried out on 908 listed companies.
Regarding the results, a spokesperson from LGI explained that LGI has been able to accomplish an excellent outcome in the ESG evaluation because the company was able to understand the importance of ESG which is the non-financial factor of corporate management and thus reviewed and responded with the ESG factors in the overall management activities. Besides, he continued that the ESG grade is a standard that is directly related to the company evaluation, and from this result, LGI’s considerable efforts have been recognized in creating social value and preparing a basis for sustainable growth.
Regarding this delightful achievement, LGI was highly acknowledged for its activities that have achieved environmental accomplishments and advanced environmental management systems such as investing in new renewable energy-related businesses or forming environment specialized organizations. Also, LGI’s continuous expansion of the law observance management and communication with the partner companies, competitors, and the local community were also evaluated positively.
Kang Sung-chul, the head of the Strategic Management Division of LGI, participated in the awards ceremony and imparted that ESG is an essential condition of management for sustainable growth and the continual survival of a company and LGI will make its best efforts in establishing high-standard ESG management systems based on its clear and healthy governance. Also, he discussed the aims of LGI to further strengthen its communications with various types of interested parties including customers, stockholders, investors, and others regarding management performances and the information related to ESG.