Hyosung : TNC Shoots Up to a Leading Business in Global ESG Ratings

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This year, Hyosung TNC has seen its status rise to the position of a leading business in global ESG management, garnering a grade of "AA" or two notches higher than that of last year in Morgan Stanley Capital International (MSCI)'s ESG Ratings.

MSCI ESG Ratings is a leading ESG (environment, social, and governance structure) index that major global businesses refer to.

Since 1999, MSCI provides listed businesses all over the world with a seven-stage rating (ranging from CCC to AAA) based on its evaluation of their ESG-related core issues.

Hyosung TNC adopted a strategy for carbon reduction that set an example for the others in the industry to follow and garnered "BB" and "BBB" ratings in 2019 and 2020, respectively. It garnered an "AA" rating in 2022, securing its status as a leading one among global raw material chemical businesses.

It is particularly noteworthy that the Company garnered the highest score in the following four sectors: △ Carbon emission, △ Toxic emission & Waste, △ Water stress, and △ Chemical safety.

"We at Hyosung TNC have engaged in an array of activities to cope with climate change and carbon neutrality. We aim to join the ranks of world-class chemical businesses by realizing the goal of sustainable management in the ESG sector," Hyosung TNC President Kim Chi-Hyung said.

In 2023, Hyosung TNC garnered a grade of "A" even in the KCGS (Korea Corporate Governance Service)'s evaluation as in the two preceding years. In the environment sector, it garnered an "A+" grade, one notch higher than the preceding year, in recognition of its effort made through ESG campaigns and in the recycling/bio textile sectors.

Hyosung TNC has engaged in the "Regen recycling" campaign-wherein its employees are made to collect PET bottles-for the past three years in a bid to put sustainable management into practice and seek accompanied growth with its subcontractors. It provided a box for the collection of PET bottles in its factories in Seoul, Ulsan, Gumi, and Daegu, presenting those taking part in the campaign with bags made by domestic eco-friendly startup brands applying the recycled fabric Regen.