OCI Receives Gold Medal in 2024 EcoVadis Sustainability Assessment
- OCI received the Gold Medal awarded to the top 5% by EcoVadis, a major global ESG assessment agency.
- Received high scores in the categories of environment, labor and human rights, with favorable scores in all categories.
- OCI set tasks for each category as part of its mid- to long-term ESG roadmap and systematically implemented ESG activities.
- Selected by Sustinvest as the best ESG company in the first half of 2024, demonstrating its outstanding ESG management capabilities at home and abroad.
OCI announced that it has been awarded a Gold Medal from EcoVadis, a global ESG rating agency, placing it in the top 5% and recognizing its strong ESG management capabilities.
EcoVadis, founded in France in 2007, is the world’s largest reliable global sustainability rating agency. EcoVadis evaluates over 130,000 companies across 180 countries in four categories: Environment, Labor and Human Rights, Ethics, and Sustainable Procurement, and awards Platinum (top 1%), Gold (top 5%), Silver (top 15%) and Bronze (top 35%) medals.
OCI received Gold Medal, which is awarded to the top 5% of all companies assessed. Compared to the previous year, OCI has improved its scores in overall areas, especially high scores in environment, and labor and human rights. Recently, the number of clients requesting global ESG ratings from their suppliers has increased sharply, and with this EcoVadis rating, OCI is expected to strengthen its business capabilities by pre-emptively responding to such a trend of stricter global ESG regulations.
OCI has established a mid- to long-term ESG roadmap to strengthen ESG management and set tasks in each of the environmental, social and governance categories, and systematically implemented ESG activities.
In the environmental area, the company has established a greenhouse gas emissions management system aligned with global regulation of carbon emissions. It also set a target to increase its water reuse rate by more than 10% by 2030 compared with 2019, aiming to reinforce the monitoring of water resource usage at its sites. In addition, for producing eco-friendly carbon black using recycled fuel oil from plastic waste, OCI received the International Sustainability & Carbon Certification (ISCC) Plus, an international eco-friendly product certification, in 2023, and plans to increase certifications by using eco-friendly raw materials. In the area of labor and human rights, the company conducted human rights impact assessments at all sites in April of this year, identified human rights risks and incorporated the results into its corporate policies to strengthen human rights management.
OCI also recently received the top rating, AA, in an ESG assessment conducted by Sustinvest, a domestic ESG rating agency. OCI was selected by Sustinvest as one of the 100 Best ESG Companies among listed Korean companies on a bi-annual basis, demonstrating its excellent sustainable management capabilities both domestically and internationally.
OCI CEO YooShin Kim said, “With the Gold Medal from EcoVadis, we expect to actively meet the demands of our key stakeholders and maintain global market competitiveness. In the future, OCI will fulfill its corporate social responsibility, further strengthen ESG management, and pursue sustainable growth to realize its vision of becoming a global leading advanced materials company.” (end)