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2024.04.08
OCI Holdings Receives an 'A' in the 2023 MSCI ESG Ratings

OCI Holdings Receives an 'A' in the 2023 MSCI ESG Ratings

 

- Receiving an improvement of one level from the previous year, OCI Holdings has consistently enhanced its rating annually since 2021.

- By bolstering ESG management, OCI Holdings strives for sustainable growth in the future.

 

On April 8, OCI Holdings reported receiving an "A" in the 2023 MSCI ESG ratings, marking an improvement from last year's rank.

Morgan Stanley Capital International (MSCI), a leading authority, evaluates 10 primary sectors and 35 crucial issues pertaining to ESG risks (environment, social, governance) every year for companies listed globally since 1999. The ESG ratings by MSCI range on a scale from CCC to AAA.

Since receiving a BB rating in 2021, OCI Holdings has consistently advanced its ratings annually, achieving BBB in 2022 and A in 2023. These improvements reflect the company’s commitment to ESG initiatives, aiming to meet corporate social responsibilities and sustainably manage its operations.

MSCI highlighted OCI Holdings' outstanding performance in the Environmental category, achieved by significantly cutting down emissions of nitrogen oxide (NOx) and sulfur oxide (SOx) under a new chemicals management policy introduced in 2023. The company also notably decreased its water use intensity through enhanced water resource management.

The company's governance improvements were also recognized as it transitioned to a holding company structure under the name OCI Holdings in May 2023, and by strengthening the independence of the Board of Directors through the separation of the roles of CEO and chairman. 

OCI Holdings remains committed to spearheading ESG management to foster sustainable growth across all OCI Group companies, adhering to the corporate ESG vision, “Making Sustainability Possible.”

OCI Holdings Chairman Woo Hyun Lee expressed satisfaction upon learning that only the top 13% of global companies received A ratings in 2023. He affirmed the company's commitment to pursuing sustainable, long-term growth strategies.

In a recent development, the OCI Holdings Board of Directors named Mi Chung Ahn, an independent director, as its chairwoman, marking her the first woman to hold this position among the independent directors in the OCI Group.

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