Pan Ocean Achieves Outstanding ESG Evaluation Grade ‘A’ in 2023
Pan Ocean, a leading shipping and logistics company, proudly announced on the 31st that it has received a remarkable evaluation grade of ‘A’ in the prestigious ‘2023 ESG Evaluation’ published by the esteemed Korea ESG Standards Service (KCGS).
The Korea ESG Standards Institute conducts an annual evaluation of ESG management practices among domestic listed companies. This year, a total of 987 domestic listed companies underwent evaluation, and Pan Ocean emerged as a standout performer.
Pan Ocean’s comprehensive evaluation grade of ‘A’ signifies a commendable two-level rise compared to its previous evaluation. The company’s transparent information disclosure practices played a crucial role in obtaining superior grades across all three categories: environment (E), society (S), and governance (G).
Notably, Pan Ocean achieved an outstanding ‘A+’ grade for the first time in the environmental sector, placing it among the top 4% of evaluated companies. This recognition highlights Pan Ocean’s dedication to environmentally friendly shipping and logistics operations, aligning with global standards and effectively addressing climate change concerns.
Last year, Pan Ocean established ambitious medium to long-term carbon neutrality goals through its ‘Carbon Neutral Declaration 2050’, demonstrating its proactive approach towards the global climate change scenario. The company’s continued efforts to respond to environmental and climate challenges have further solidified its position as a responsible industry player.
In the social sector, Pan Ocean received commendable evaluations, reflecting its ongoing commitment to strengthen human rights management. The company has made significant strides in this area by implementing human rights management guidelines and enacting a code of conduct for partners. Additionally, Pan Ocean has actively supported the ESG management of its partners, emphasizing the significance of cooperation and shared responsibility.
Despite a grade reduction (grade C) in the governance sector based on detailed evaluations last year, Pan Ocean has been relentless in its pursuit of improvement and transparency. The company introduced a fair trade compliance program and implemented an anti-corruption program, firmly re-establishing its ‘A’ grade. These initiatives highlight Pan Ocean’s unwavering dedication to strengthening transparent management practices, setting a sterling example for others in the industry.
An official from Pan Ocean expressed his pride at achieving an ‘A’ grade in the Korea ESG Standards Institute evaluation, attributing this success to the collective efforts of all company members towards sustainable management practices. He emphasized Pan Ocean’s unwavering commitment to continuous enhancement and contributions to the environment and society, positioning the company as a trailblazer in ESG management in Korea.
Pan Ocean aims to establish itself as a prominent and forward-thinking company, ensuring it does not rest on its laurels but instead consistently strengthens its competitiveness while making positive contributions to the environment and society.
This remarkable achievement by Pan Ocean demonstrates its strong determination to be a leader in sustainable business practices and sets a benchmark for the industry as a whole.
Pan Ocean announced on the 31st that it has received a comprehensive evaluation grade of ‘A’ in the ‘2023 ESG Evaluation’ published by the Korea ESG Standards Service (KCGS).
The Korea ESG Standards Institute evaluates the ESG management of domestic listed companies every year. This year, 987 domestic listed companies were evaluated.
Pan Ocean received a comprehensive evaluation grade of ‘A’, which is two levels higher than last year. As a result of a transparent information disclosure exercise, we obtained better grades compared to the previous year in all three categories: environment (E), society (S), and governance (G).
In particular, the ‘A+’ grade obtained for the first time in the environmental sector is the highest level, corresponding to the top 4% of companies evaluated, and Pan Ocean is recognized for its preparations and its efforts to operate environmentally friendly shipping and logistics. in line with global standards, including responding to climate change.
Pan Ocean established medium to long-term carbon neutrality goals to participate in the global climate change scenario through the ‘Carbon Neutral Declaration 2050’ last year and has continued its efforts to respond to the environment and climate change.
The social sector received good evaluations, reflecting the fact that it is continuously reviewing ways to strengthen its human rights management, such as establishing human rights management guidelines and enacting a code of conduct for partners, while also supporting ESG management of its partners . In addition, we have resumed social contribution activities for regional coexistence and we continue to be active.
In the governance sector, there was a grade reduction (grade C) due to some detailed evaluations last year, but since then, we have continued to make improvements and efforts to improve transparency, such as the introduction of a fair trade compliance program and implementation. anti-corruption program, and regained the A grade, making Pan Ocean We have proven that we continue our efforts to strengthen transparent management.
An official from Pan Ocean said, “Getting an A grade in the ESG evaluation from the Korea ESG Standards Institute is the result of the joint efforts of all company members for sustainable management. We are the best ESG management in Korea that does not settle for the present and contributes to the environment and society by continuously strengthening competitiveness.” “We will strive to establish ourselves as a company,” he said.
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