Coway Co., Ltd. improved its environmental grading from the Korea Institute of Corporate Governance and Sustainability (KCGS) from a B+ in 2022 to an A grade. This ranking is assessed by KCGS based on three categories: Environment, Society and Governance.
Coway’s improved ranking was given due to its approach to climate change adaptation and the expansion of its environmentally-friendly certified products.
The company received an A+ for its social responsibility initiatives and human rights management policies in the Social category, and a B+ grade in the Governance category for the company’s efforts to enhance the independence and transparency of its board of directors.
“We are committed to broadening the scope of our ESG management initiatives to uphold our environmental and social responsibility,” a Coway official wrote in a statement. “Moving forward, Coway will strive to ensure that all stakeholders, including employees, local communities, and business partners, work together harmoniously to promote sustainable growth.”