NEWS
Kumho Petrochemical’s Carbon Disclosure Project (CDP) score increased by four notches
No. 20
Date registered : 2023.03.09
■ The 2022 Carbon Disclosure Project (CDP) score increased four notches, from D to B, in one year
■ Shortest time to move up to the ranks of “management level” despite the trend of stricter evaluation standards and industry discounts
■ Chairman Park Chan-goo “The score is a symbol of global efforts for coexistence; let’s continue good cooperation-based competition”
On the 9th, Kumho Petrochemical (CEO Baek Jong-hoon) announced that it had accomplished the achievement of raising the evaluation score of the Carbon Disclosure Project (CDP), a global sustainability evaluation organization, by four notches in one year.
CDP is a London-based nonprofit environmental organization commissioned by financial investment institutions worldwide to analyze, classify, and disclose the environmental information of major companies. The CDP index is used as a representative sustainability evaluation index along with the Dow Jones Sustainability Indices (DJSI) and the Morgan Stanley Capital International (MSCI) index.
Kumho Petrochemical’s CDP scores rose by four notches, from D in 2021 to B in 2022, including minus (–) grades. This achievement was accomplished in such a short period, one year, amid a trend of stagnant or declining ratings across the industry as the evaluation standards have been strengthened. In addition, starting with the B/B– grade, it is classified as a “management level” in which companies are evaluated as having established an appropriate system to respond to climate change. An official from Kumho Petrochemical explained, “Considering that the current highest grade in the chemical sector is A– grade, it is encouraging that Kumho Petrochemical has achieved a four-grade upgrade even though basic discounts for industries with high carbon emissions can be applied.”
Kumho Petrochemical plans to achieve additional score upgrades in the future. To this end, it plans to manage not only direct and indirect emissions (Scopes 1 and 2) but also all other indirect emissions (Scope 3) more thoroughly through verification by a third party. Kumho Petrochemical Group Chairman Park Chan-goo said, “A company’s score is not a mere achievement, but a symbol of global efforts for coexistence. I hope that all industries will continue good cooperation-based competition.”
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