SEOUL -- South Korea's food company Pulmuone has received the highest score among domestic food makers in the sustainability assessment by S&P Global, a New York-based credit rating agency. In the global sustainability evaluation, which involved 260 food companies, the Seoul-based food provider secured the fifth position.
S&P Corporate Sustainability Assessment (CSA) is recognized as a globally trusted indicator in the field of corporate sustainability evaluation and investment. About 9,400 companies from 62 industries are involved in the evaluation for 2023. Among them, 230 were engaged in the food sector.
The CSA data released by S&P Global showed that Pulmuone ranked first among domestic food manufacturers in 2023, scoring 78. CJ Cheiljedang, a key subsidiary of South Korea's food and entertainment giant CJ Group, took the second position among South Korean food companies with a score 77. According to Pulmuone, the company showed strengths in risk and crisis management, supply chain management, water management, and health nutrition issues.
Pulmuone highlighted "Vegetable Earth Diet," a plant-based meat brand as its sustainable food. The food maker reported 43 billion won ($32.1 million) in sales for the Vegetable Earth Diet in August 2023, just a year after the brand's launch in August 2022. The vegan meat brand offers many different products, including soybean-based canned ham and ready-to-eat meals like soybean protein dumplings.
"Under the mission of being a company that creates a healthy tomorrow for people and the Earth through wholesome foods, Pulmuone has clearly proven itself as a leading ESG (environmental, social, and corporate governance) company in this CSA evaluation," Pulmuone's sustainable management division head Oh Kyeong-seok said in a statement on February 14. In the 2023 sustainability evaluation, the food maker was also recognized for transparently disclosing potential risks associated with climate change and environment-related laws, and for effectively responding to changes in regulations.
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