Coway announced its continued pledge to its Environmental, Social and Governance (ESG) commitment that will minimize the company’s impact on the environment and increase its sustainability initiatives.
By 2030, Coway intends to reduce its greenhouse gas emissions by half in comparison to its 2020 levels, and plans to operate on 100% renewable energy and be fully carbon neutral by 2050, in alignment with South Korea’s 2050 carbon neutrality strategy.
Coway is already using solar power in three factories and one distribution center, with future investments to be made in generating solar power that will offset emissions. The company is also moving toward a circular economy with a goal of achieving a 100% waste recycling rate, a 100% industrial waste resource recovery rate, and 20,000 refurbished product sales by 2030.
For these efforts, Coway was included in the 2020 DJSI World Index (Dow Jones Sustainability World Index) for the fifth consecutive year and was the only Korean company to be included in the Household Durables category.
“Coway’s commitment to a sustainable future through various efforts has continued for more than a decade,” the company wrote in a public statement. “We will continue to make a concerted effort to fulfill our responsibility in the environment, society, and governance, and transparently communicate our progress.”
