inno.N

October 30, 2023
 

HK inno.N Earns an ‘A’ for ESG Integrated Rating from Korea Institute of Corporate Governance and Sustainability   

A for ESG Integrated Rating by KCGS, a Major ESG Rating Agency in Korea

A+ in Social Component for its First Rating… Top Tier in Pharmaceutical Industry

Published Sustainability Report for 2 Consecutive Years and Enhanced Corporate Governance through Establishment of Sustainability Management Committee

Second Achievement following Highest (AA) Rating from 'SUSTINVEST' in First Half

 

HK inno.N, a pharmaceutical company, announced on the 30th that it earned an ‘A’ in ESG Integrated Rating for the ‘ESG Rating of Korean Enterprises in 2023’ published by the Korea Institute of Corporate Governance and Sustainability (KCGS) on the 27th.

The latest result was the first-ever ESG Rating that HK inno.N received from the KCGS where the company was recognized of its ESG management performances at the highest level in the industry with A+ in social rating and A in the governance rating.

KCGS, one of major ESG rating agencies in Korea, publishes the ESG ratings based on evaluation of listed companies in Korea for their level of sustainable management in the environmental, social and governance pillars on a yearly basis. This year, KCGS evaluated 987 listed companies, and a total of 185 companies earned the A Rating or higher. From pharmaceutical companies, HK inno.N and 7 others obtained A Rating or better, excluding holding companies.

It appears that the company’s management of supply chain and activities to boost coexistence with local communities brought positive impacts on the evaluation for the social component. HK inno.N has engaged in various activities to vitalize local cooperation and communication with subcontractors for the purpose of accompanied growth with stakeholders. Also, hosting the ‘Risk Assessment Contest’ in last July, the Company invested efforts to solidify the self-regulatory preventive systems.

For the environmental component, the company initiatively joined the ‘South Korean RE100 (K-RE100)’ last June, where companies are committed to achieve 100% renewable electricity, and also strengthened its eco-friendly management system by establishing the bio-diversity policies and operating the company-wide environmental management conference system. The company is currently establishing its roadmap to carbon neutrality for calculating Scope 1, 2, and 3 carbon emissions, and it is scheduled to be unveiled by the end of this year.

In the Governance component, the company enhanced its ESG risk management activities by installing the ‘Sustainability Management Committee,’ an ESG committee under the board of directors last May, and has built a decision-making system which follows the sequence of working-level organization, senior management and the board of directors. At the same time, the company not only further strengthened the internal control system but also continues the ethical culture activities by executives and employees through holding the “Self-Compliance Day” on a yearly basis. Publishing another issue of the Sustainability Report following the one last year, the company actively communicates with stakeholders. From the next year on, the company plans to heighten the ESG driving force by reflecting the ESG performance on the key performance indicator (KPI) of executives.

“We have made remarkable achievements and reached the highest level in the industry after fully implementing the ESG management since 2021,” Dal-won Kwak, the CEO of HK inno.N, said. “Our company is determined to continue contributing to the sustainable future throughout the environmental, social and governance fields,” Kwak added.

Previously, HK inno.N has earned AA rating, the highest rating available, from both the scale rating (for firms with total assets worth \500 billion KRW or more) and overall rating for the ESG evaluation of the first half of 2023 announced by ‘SUSTINVEST,’ an ESG evaluation agency.