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LOTTE Chemical Receives MSCI ESG Rating of BBB

2022.01.12



LOTTE Chemical Receives MSCI ESG Rating of BBB

 

█ Recognized for various activities for reducing carbon emissions such as the construction of the Yeosu CCU pilot facilities,

    2030 hydrogen growth road map, and environmental management systems, as well as acquiring ISO14001 certification, etc. 


LOTTE Chemical (Vice Chairman/CEO Kim Gyo-hyun) announced on the 12th that its MSCI (Morgan Stanley Capital International) ESG rating was raised from BB in 2020 to BBB in 2021. 


 

The MSCI ESG rating categorizes listed companies around the world by industry and assesses them in Environment, Social, and Governance. There are seven ratings from C to AAA. As ESG-related assets are expected to grow rapidly in the capital market, this evaluation is treated as an important factor for improving corporate value.

 

In this evaluation, LOTTE Chemical received positive assessments in carbon emissions and clean technology opportunity sectors such as construction of its CCU pilot facility at the Yeosu plant, use of low-carbon alternative energy through the hydrogen growth road map, and investments in relevant clean technologies. It was also recognized for constructing the EMS (environmental management system), acquiring ISO14001[1] in all of its workplaces, and strengthening its disclosure capacities by actively participating in international initiatives such as the CDP (Carbon Disclosure Project). 

 

In February of last year, the LOTTE Group Chemical Unit implemented the ESG management strategy called ‘Green Promise 2030’ with the goal of sustainable growth and expanding eco-friendly businesses, thereby setting the directions of its eco-friendly business and concretizing pursuance plans. The four major projects of 『Strengthening eco-friendly business』 『Expanding resource circulation』 『Responding to the climate crisis』 『Establishing a green ecosystem』 were set and aiming at ▲posting chemical BU eco-friendly business sales of 10 trillion KRW, ▲expanding recycled materials to one million tons, ▲and achieving carbon neutral growth that does in which there is no increase in carbon emissions by 2030.

 

Also, in July of last year, LOTTE Chemical announced ‘Every Step for H2’ as its eco-friendly hydrogen growth road map declaring that together with achieving carbon neutral growth by 2030, it will also supply 30% of domestic hydrogen demand. LOTTE Chemical plans to invest a total of approximately 4.4 trillion KRW by 2030 to become a leader in ▲clean hydrogen production ▲businesses using hydrogen, and ▲technological development for hydrogen businesses.


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