In 2023, Samsung Electronics demonstrated its ongoing dedication to sustainability by reaching an MSCI ESG Ranking of AA.
▲ Samsung Electronics receives the AA score within the 2023 MSCI ESG Scores.
The AA score relies on the 2023 MSCI ESG Scores by Morgan Stanley Capital Worldwide (MSCI), rating Samsung as one of many international leaders in managing environmental, social and governance (ESG) dangers and alternatives.
Samsung improved its general score in 2023 by one notch, constructing on its constant A score since 2020. This improve was attributable to massive enhancements in its social and governance scores.
The MSCI ESG evaluation, performed by MSCI — a subsidiary of Morgan Stanley, a number one international funding financial institution — has been a key international analysis of ESG practices since 2009.
The evaluation holds appreciable affect over traders worldwide. It offers a complete analysis of the ESG administration of greater than 8,500 listed firms globally. The businesses are categorized into seven grades — from the very best rank, AAA, to the bottom, CCC.
Samsung’s enchancment within the score final yr is because of its international sustainability administration actions. Specifically, the corporate’s rating elevated in areas similar to human capital improvement, controversial sourcing and company governance.
Internally, Samsung has applied initiatives to enhance the working surroundings for its workers. This contains the introduction of the Free Agent (FA) initiative and Samsung Expertise Alternate Program (STEP), permitting workers extra alternatives to discover totally different roles and achieve cross-cultural work expertise between home and abroad places of work. Moreover, the corporate additionally runs The College of Samsung Electronics (The UniverSE), an academic program for built-in job and management coaching to assist the continued progress of Samsung executives and workers.
When it comes to accountable mineral sourcing, Samsung conducts common surveys and inspections of all suppliers. The corporate publishes a devoted Accountable Minerals Report in an effort to resolve and forestall any points associated to the mineral procurement course of.
Within the report, MSCI acknowledged, “The corporate’s sturdy mineral sourcing coverage leads that of trade friends and extends past 3TG minerals. We be aware enhancements in Samsung Electronics’ company governance practices.”
Samsung incorporates sustainability administration standards within the Environmental and Social classes when evaluating organizational and government efficiency. The Sustainability Committee of the Board of Administrators, composed fully of unbiased administrators, performs an important position in discussing main ESG points.
Samsung stays dedicated to sustainability administration. The corporate will proceed strengthening its ESG administration system by investing and increasing its product line with eco-conscious expertise and supporting human rights administration within the provide chain.
