Ewha Electric noted on 24th that it received the highest rating in the ESG (Environmental, Social, and Governance) evaluation conducted as part of the Korea Gas Corporation's support program for small and medium-sized enterprises.
The ESG evaluation by the Korea Standards Association determines ratings based on three institutional sectors: ▲Environment (implementation of circular economy practices) ▲Society (compliance with labor conditions and industrial safety and health, comprehensive implementation of related laws including the Industrial Safety and Health Act) ▲Governance (establishment of ethical and transparent management through the board of directors and shareholders' meetings).
Ewha Electric explained it appointed CEO Wi Jong-mook at its general shareholders' meeting in March this year and has made efforts for ESG management, including establishing a transparent management system. In this ESG evaluation, the company scored full points in the environmental and governance institutional sectors and received a high rating in the social institutional sector.
Ewha Electric has set the goal of establishing a foundation for ESG management as its management policy this year. To achieve this, it amended its articles of incorporation to include the appointment of outside directors recommended by the KOSDAQ Association and equal representation of internal and external directors, and established a transparent management committee and formulated ESG management guidelines. In the environmental institutional sector, it implemented measures to reduce carbon and waste emissions, such as complete replacement of LED lighting and reduction of printed materials.
CEO Wi Jong-mook of Ewha Electric said, “We have made active efforts to enhance awareness among all employees about the importance and necessity of ESG management and to improve the governance that has been weak until now,” and added, “We will strive to become a representative corporation practicing ESG management in Korea through the formation of a dedicated organization for ESG management and the improvement of related systems in the future.”