Our ESG Approach
Our ESG Approach
CEO Message
SK Chemicals CEO Kim Cheol
Deer stakeholders,
Greetings. In the past year, despite challenges in the macroeconomy and difficult management conditions due to geopolitical risks, SK Chemicals has achieved resilient management outcomes, driven by improved profitability in the Copolyester business and stable revenue generation in the Pharma business.
The year 2022 was significant in preparing for future growth.The Green Chemicals business established the Eco Transition strategy, concentrating capabilities on core businesses. This involved securing recycling technology, pursuing strategic partnerships with business collaborators, and initiating commercial production facilities for PO3G. In the Pharma business, efforts continue to expand sales for key products and accelerate Open Innovation for sustained expansion of medium- to long-term value.
From an ESG management perspective, 2022 marked a 'transition' phase, accepting ESG as a vital element for corporate survival.Proactively, we built an ESG management system, clearly defined ESG strategic goals and challenges. To strengthen a board-centric management system, discussions at the board level covered various aspects of ESG management, including climate change response policies. We established a Risk Management Committee to build an integrated corporate risk management system. Additionally, we developed a Net Zero Roadmap based on SBTi, published SK Chemicals' first TCFD report, and made it publicly available. As a result, improvements in ESG management levels have been objectively reflected in domestic and international ESG evaluations, including continued inclusion in the DJSI KOREA Index, MSCI rating upgrade (BBB → A), and obtaining the highest rating, A+, from the Korea Corporate Governance Service (KCGS).
In 2023, we aim to vigorously pursue the Eco Transition strategy as a Global Recycle Solution Provider, securing leadership in the recycling market.We will focus on ensuring the sustainability of the core business, Copolyester, and concentrate business capabilities on circular recycle raw materials and circular recycle PET/Copolyester businesses with high growth potential. We will continue our efforts to create a better world for the Earth and humanity. Following last year, we plan to release a TCFD report outlining our Net Zero goals and climate change response measures, with the aim of establishing science-based greenhouse gas reduction targets and obtaining SBTi approval. We will also strengthen the supply chain ESG support system and work towards sustainability for all stakeholders through human rights due diligence. SK Chemicals, based on the mission of 'protecting the Earth's environment and human health,' aims to leap forward as a comprehensive bio-life science company leading the natural cycle ecosystem with green materials. We will actively communicate with stakeholders throughout the process of achieving our mission, working together to build a sustainable future.
We sincerely ask for your continued support and interest in SK Chemicals' journey.
“Within this report, 'Circular Recycle' or 'Circular Recycle' refers to 'Chemical Recycle.' SK Chemicals is opening the circular recycle material market by making chemical recycling materials a key future business, demonstrating the infinite utility of chemical recycling materials.”
SK Chemicals CEO Ahn Jae-hyun
