Subjects: AWD, RCY, CSR
KCI, a subsidiary of Samyang Group, has been awarded a 'Gold Medal' in EcoVadis' ESG Rating, placing the company in the top 5% worldwide.
SEOUL, South Korea, May 23, 2023 /PRNewswire/ -- KCI Ltd., a subsidiary of Samyang Group specializing in cosmetics and personal care materials, has been awarded 'Gold Medal' status in the 2023 Sustainability Rating from 'EcoVadis,' the world's largest ESG rating organization. This prestigious recognition places KCI among the top 5% companies worldwide.
As a key supplier of materials to L'Oreal, the largest global cosmetics company, KCI has undergone annual assessments by EcoVadis since 2013. In 2017, KCI was awarded a Silver Medal, and the recent Gold Medal reflects the company's continuous efforts and improvement in its ESG system.
KCI places utmost priority on corporate ethics and proactiveness to climate change initiatives across all its divisions and operational activities. The company obtained the 'RSPO (Roundtable on Sustainable Palm Oil)' certification in 2016, a consultative body for sustainable palm oil production. In 2019, KCI received ISO14001 (Environmental Management) and ISO45001 (OH&S Management) certifications from the International Organization for Standardization. Since 2021, KCI has been publishing annual Sustainable Management Report to transparently disclose its corporate vision and strategy, financial and non-financial performance, and more to stakeholders.
KCI's sustainability efforts gained recognition from several international organizations, including Carbon Disclosure Project (CDP). The company received A-, A-, B- ratings in Climate Change, Water, and Forest, respectively, from CDP. Moreover, KCI joined the UN global compact (UNGC) and Responsible Care (RC) initiatives in 2021 and 2022, resulting in its second Gold Medal from EcoVadis this year.
Looking forward, KCI has announced its policy to further accelerate ESG management by establishing a mid-to-long-term roadmap to achieve net-zero greenhouse gas emissions by 2050. KCI aims to reduce direct and indirect emissions, including those from its supply chain and partners.
KCI's President, Jinyong Lee, expressed his gratitude for the second Gold Medal award from EcoVadis, calling it a significant recognition of their bona fide ESG management. He added that KCI deeply committed to sustainable management approach that benefit all stakeholders.
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