• The world’s first company to mass-produce chemically recycled copolyester ∙ The company’s carbon neutrality policy contributed to the excellent evaluation results
• This is a two-step improvement in the company’s MSCI evaluation, following its inclusion in the Dow Jones Sustainability Index Korea (DJSI Korea)

SK chemicals, a leader in ESG management in the chemical industry, has received noteworthy ratings from foreign evaluation agencies.

SK chemicals (CEO: Jeon Kwang-hyun) announced on the 10th that in the 2021 ESG (Environment, Social, Governance) evaluation conducted by Morgan Stanley Capital International (MSCI), the company received a “BBB” rating, a two-level improvement from the previous year.

MSCI is a global financial company that has published ESG ratings of listed global companies every year since 2019. They are classified annually by industry and then evaluated in accordance with 35 core issues related to the Environment, Social, and Governance fields. For the ratings, MSCI applies very stringent standards, such as collecting and inspecting the ESG status of individual companies directly through their websites. Out of the 7 ratings, ranging from CCC to AAA, less than 10% of companies receive the highest rating (the Leader group). The ratings are widely recognized and the public applies these ESG rankings when making global investment decisions.

SK chemicals achieved a “BBB” rating, its second since being initially rated in 2020. The MSCI “BBB” rating is on par with leading global companies such as Amazon and Estee Lauder and is the highest received among chemical companies in Korea.

According to the MSCI report, SK chemicals is recognized for △being the world's first to commercialize chemically recycled copolyester and utilizing excellent “eco-friendly technology,” such as developing bio-based chemical material, and △the “Carbon neutral policy 2050”, which includes a 50% carbon emission reduction by 2030. In the carbon emission sector specifically, a major evaluation category for ESG ratings, SK chemicals was evaluated to possess the world's top-class climate crisis response strategy. The company obtained an evaluation score that ranks within the top 10% among the world’s raw material and chemical companies.

An SK chemicals official said, "Receiving a ‘BBB’ rating from MSCI ESG evaluations is equal to being in the top 19 companies of the world’s raw material and chemical industry,” and, “We will devote further efforts to discover new businesses that meet ESG management values and have high future growth potential.”

In November last year, SK chemicals was included in the 2021 Dow Jones Sustainability Index Korea (DJSI Korea), receiving positive reviews for its expansion of ESG management strengthening activities and transparent information disclosure.

SK chemicals stated last year that the company will achieve Net Zero by the year 2050. It also selected and announced the following tasks as ESG management goals to be achieved by 2030: ▲ 50% reduction in greenhouse gas emissions, ▲ Reorganization of bio- and eco-friendly business portfolios, ▲ Establishment of internal infrastructure for environmental protection, and ▲ Zero safety accidents at worksites.

SK chemicals is also greatly expanding businesses that meet ESG values. In October last year, the company began its mass production of copolyester ECOTRIA CR, marking the world’s first use of this game-changing chemical recycling technology. In March this year, it plans to commercialize PO3G (poly(oxy trimethylene) ether glycol), a 100% new biomaterial made from corn.