In 2023, Samsung Electronics demonstrated its ongoing dedication to sustainability by attaining an MSCI ESG Ranking of AA.
The AA score is predicated on the 2023 MSCI ESG Scores by Morgan Stanley Capital Worldwide (MSCI), rating Samsung as one of many world 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 resulting from giant enhancements in its social and governance scores.
The MSCI ESG evaluation, performed by MSCI — a subsidiary of Morgan Stanley, a number one world funding financial institution — has been a key world analysis of ESG practices since 2009.
The evaluation holds appreciable affect over traders worldwide. It gives a complete analysis of the ESG administration of greater than 8,500 listed corporations 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 12 months is because of its world sustainability administration actions. Particularly, the corporate’s rating elevated in areas resembling human capital improvement, controversial sourcing and company governance.
Internally, Samsung has applied initiatives to enhance the working setting for its workers. This contains the introduction of the Free Agent (FA) initiative and Samsung Expertise Trade Program (STEP), permitting workers extra alternatives to discover completely different roles and acquire cross-cultural work expertise between home and abroad workplaces. Moreover, the corporate additionally runs The College of Samsung Electronics (The UniverSE), an academic program for built-in job and management coaching to help the continued progress of Samsung executives and workers.
By way of 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 strong mineral sourcing coverage leads that of trade friends and extends past 3TG minerals. We word enhancements in Samsung Electronics’ company governance practices.”
Samsung incorporates sustainability administration standards within the Environmental and Social classes when evaluating organizational and govt efficiency. The Sustainability Committee of the Board of Administrators, composed completely of impartial 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.