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LX International receives grade ‘A’ in the KCGS ESG evaluation for 2 consecutive years
- 11/01/2021
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On October 28, LX International announced that once again it has received grade ‘A’ following on from last year in the ESG Evaluation 2021 which is organized by the Korea Corporate Governance Service (hereinafter the KCGS). The grades for each sector are A for the Environment, A+ for Social, and A for Governance.
In 2014, LX International had its first evaluation and received an overall grade B+. For many years, the company retained the grade until 2020 when it received an A for the first time. Also, LX International was the winner of the Excellent ESG Enterprise 2020.
As an affiliated organization of the Korea Exchange that was established in 2002, KCGS has been evaluating the ESG standards (Environment, Social, Governance) of listed companies in Korea every year since 2011. The KCGS ESG grades are announced to induce corporate sustainability management, and are also used as an index for the capital market participants to recognize the ESG management standards of a company.
Due to the recently highlighted significance of the company management ESG, many financial institutions around the world have been applying diversified ESG evaluation information. Especially, the importance of ESG is enhanced even more as a significant factor that may affect corporate value in a short- and long-term such as promoting the implementation of the ESG related announcements and strategies to enterprises by global asset management companies.
In the meantime, LX International has been promoting transition into the green industry-oriented business portfolio in terms of the ESG perspective. Along with expanding the business fields into the key minerals of secondary cells such as nickel, etc., the company also strives to develop green industry-based new profit sources including carbon credit transactions and waste disposal in addition to overseas new renewable energy development businesses regarding water power and biomass, etc.
LX International presented that receiving an outstanding evaluation on consecutive years was made possible as the efforts of the company to create social values and prepare a sustainable foundation of growth were recognized, and that it will continue producing innovations for transition into an environmentally friendly business structure.