CDP is a nonprofit that discloses, analyzes and evaluates environmental information from more than 24,000 major companies worldwide at the request of global financial institutions representing a combined $130 trillion in assets. It assesses companies’ climate strategies and execution, including efforts to cut greenhouse gas emissions, expand the use of self-consumed solar power and develop Scope 3 reduction road maps. CDP’s system can lower a company’s score if it shows no improvement from the previous year.
The results are widely used as a key reference by global ESG rating agencies, institutional investors and international business partners, the company said.
Kumho Petrochemical had maintained a B rating for the past three years but was upgraded to A- this year, it said.
The company said the higher score reflected its management of carbon emissions in raw and subsidiary materials, known as Scope 3 Category 1, using verified data, and its establishment of a supply-chain climate assessment system that led to practical emissions reductions.
Chief Executive Officer Baek Jong-hoon said earning the A- rating showed the company’s climate response had been applied across management and worksites, not limited to declarations or plans. “We will continue responsible climate action so that meaningful change continues across the entire process, including the supply chain,” he said.
Separately, the Kumho Petrochemical Group said its affiliates Kumho Mitsui Chemicals and Kumho Polychem received Platinum ratings last year from EcoVadis, a global supply-chain sustainability assessor.
* This article has been translated by AI.
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