HK inno.N rated with the overall A+ Grade in the ESG evaluation result announced by KCGS
October 28, 2024
HK inno.N rated with the overall A+ Grade in the ESG evaluation result announced by KCGS
Achieved A+ grade in the result of ESG performance evaluation by the Korea Institute of Corporate Governance and Sustainability (KCGS), one grade up from the result of the last year (A grade)
Embedding ESG values companywide & strong emphasis on the responsible business conduct and implementation…One grade up to A+ in governance
Rated with the highest grade (AA) by SUSTINVEST earlier this year… ESG performance of HK inno.N formally recognized, achieving the highest grade for three consecutive years
HK inno.N (CEO Dalwon Kwak), a biopharmaceutical corporation, announced October 28 that the Company accomplished an overall A+ grade in the “2024 Korea Corporate ESG Rating” announced by the Korea Institute of Corporate Governance and Sustainability (KCGS) on October 25th.
HK inno.N is the only biopharmaceutical company to earn the A+ grade, excluding those of holding company types.
HK inno.N was rated with an overall A grade in the first KCGS rating last year, and an overall A+ grade this year. By the areas of ESG, the Company received an A+ grade in the Social and Governance areas and an A grade in the Environmental area, serving as a formal recognition of its industry-leading ESG management performance
KCGS is one of the major ESG rating agencies in South Korea. Every year, the institute performs evaluation of the ESG management performance of listed companies in South Korea in the Environmental (E), Social (S), and Governance (G) areas and announces the result of ESG rating of these companies. This year, 1,066 listed companies in South Korea were included in the evaluation, and 23 of them were awarded an A+ grade.
In the Governance (G) area, HK inno.N established a strong system of responsible business conduct led by the management in conjunction with the key performance indicators (KPI) for ESG performance of the entire executives, such as the progress with Net Zero Roadmap. Evaluation was performed on the activities of the Board of Directors and independent directors, and disclosed the results of evaluation and the Board Skill Matrix (BSM) to raise the standard of the independence and expertise of the board of directors in their operations. In June, the Company published its third Sustainability Report, according to the global disclosure recommendations, ensuring transparency in ESG management.
In the Social (S) area, HK inno.N was selected as a new accredited organization by the Corporate Social Responsibility (CSR) in the Community scheme and also as Corporate Philanthropy Leader, marking the significance of the Company’s contributions to win-win relationship with community and CSR activities. In addition, the Company established a supply chain management system for advanced risk management of the supply chain, and actively implemented programs in support of partner companies, such as providing ESG education to partner companies and sharing relevant issues. Furthermore, human rights impact assessment was conducted and human rights education for employees was provided to identify risk factors for human rights violations and eradicate any potential risks.
In the Environmental (E) area, HK inno.N established a Net Zero Roadmap and identified greenhouse gas emissions from the entire supply chain of the Company as well as direct and indirect greenhouse gas emissions by the Company. Also, the scope of disclosure related to environmental management was expanded based on the disclosure recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) and the Task Force on Nature-Related Financial Disclosures (TNFD). The Company went on to obtain ISO 50001 (Energy Management System) certification at Daeso Plant, serving as a proof of adequate implementation of the energy management system at a global standard.
Dalwon Kwak, CEO of HK inno.N, commented, “We take a proactive approach toward ESG management, leading the biopharmaceutical industry and our efforts have been recognized with meaningful and tangible results every year,” and added, “Our companywide efforts with ESG value-oriented management as our top priority will continue so that we can build and shape our sustainable future.”
HK inno.N achieved the highest grade of 'AA' for three consecutive years in the result of ESG rating announced by SUSTINVEST in the first half of this year. The Company also took the No. 1 position in terms of the capital scale among companies with assets between KRW 500 billion and KRW 2 trillion, continuing its stride as an industry leader in ESG performance [The End]