News: SK Inc. receives the highest ESG rating of 'AAA' from MSCI
Press Release (PRNewswire) - SK Inc. received the highest ratings from globally renowned ESG assessors Morgan Stanley Capital International (MSCI) and Dow Jones Sustainability Index (DJSI), reaffirming its leadership in ESG.
The strategic investment holding company of South Korea's SK Group announced on Tuesday that it received 'AAA', the highest rating of the MSCI ESG Rating. This is the first year SK Inc. received 'AAA' rating; the company had received 'AA' rating in 2020 and 2021. MSCI's ESG Ratings are an important index for the global investment industry.
Incorporating ESG into its management philosophy, SK Inc. has been consistently investing in innovative technologies for net-zero such as hydrogen, small modular reactors, and sustainable food. SK Inc. has been further integrating ESG to its operation by expanding ESG solution services across its IT business, increasing renewable energy usage and enhancing net-zero practices. Efforts to strengthen the expertise and diversity of the board also continues, with the company adopting active shareholder's return policies such as share buyback worth 1% of market cap by 2025.
The MSCI ESG Rating announcement follows SK Inc.'s recent inclusion in the S&P Global's DJSI World Index for the 11th consecutive year. DJSI evaluated the sustainability performance for 2,555 companies in 2022, of which only 326 or 12% were admitted to the World Index. Of the 24 Korean companies included in the index, SK Inc. was ranked the first with the highest score in the Industrial Conglomerates Industry category.
At SK Inc., we are making an effort to create value for various stakeholders, an example being the recent launch of the online ESG platform from which external stakeholders can easily view our ESG management performances in a data format," said Dong-ju Park, Vice President of Portfolio Planning Office at SK Inc. SK Inc. will continue to focus on ESG-centered business model innovation and board-led corporate governance.
In November 2022, SK Inc. also received the rating of A+ for the third consecutive year from Korea Institute of Corporate Governance and Sustainability, a local ESG evaluating agency.