Coway Co., Ltd., “The Best Life Solution Company,” earned “AA” in the 2022
MSCI ESG Ratings.
MSCI evaluates ESG ratings on a scale from AAA (leader) to CCC (laggard)
based on its analysis of the company’s environmental, social, and governance
initiatives. MSCI’s ESG Ratings serve as a global index for ESG investments
along with FTSE4Good and DJSI.
Coway acquired the second-highest MSCI ESG rating, “AA,” affirming the
company’s leading position navigating ESG issues in the household durables
industry. The excellent evaluation was mainly due to strong corporate
governance and electronic waste management.
Coway has made multiple initiatives to show its commitment to the
environment, society, and governance. In 2006, the company declared the goal of
becoming net zero by 2050 and reducing greenhouse gas emissions by 50% by 2030.
Last year, the company established an ESG Committee under the Board of
Directors for strategic ESG management.
Coway makes significant efforts to minimise environmental impact throughout
the product life cycle from design to development, sales, repurposing, and
recycling. Its initiatives include eco-friendly product development, renewable
energy usage, a waste take-back program, and resource circulations.
In 2021, the company successfully reduced 104.4 tons of GHG emissions by generating
renewable solar energy. Coway also recycles 99% of the waste generated from
products, services, and business sites through the recycling and refurbishment
systems. In addition, using recycled materials in product development
contributes to reduced resource consumption.
An official from Coway said: “We’re pursuing ESG management at a
company-wide level to fulfil financial performance as well as environmental and
social responsibility. We’ll continue to improve our ESG management systems for
our sustainable future.”
In addition to the MSCI Rating, Coway is listed on the DJSI World Index for
its 6th consecutive year and the 2021 FTSE4Good Index. Coway received an ‘A’
ESG Rating from the Korea Corporate Governance Service (KCGS) for its 3rd
consecutive year in 2021.
