ECORBIT Published its First Sustainability Report
ECORBIT announced on the 19th that it has published its 2023 Sustainability Report, outlining its ESG (Environmental, Social, and Governance) achievements and long-term vision for sustainable growth.
Key Highlights of the Sustainability Report
ECORBIT applied the Double Materiality Assessment, a framework based on GRI (Global Reporting Initiative) standards and the EU’s Corporate Sustainability Reporting Directive (CSRD). Through this approach, the company identified nine key material issues that reflect the interaction between ECORBIT and society and the critical factors for its sustainable management.
Among these, the report focuses on three core ESG priorities:
- Climate Change Response & Greenhouse Gas Reduction
- Workplace Safety & Health
- ESG Governance Framework
Climate Change Response & Greenhouse Gas Reduction
ECORBIT is actively analyzing financial risks and opportunities related to climate change and has formulated a Net-Zero strategy aligned with national greenhouse gas reduction goals.
Carbon Neutrality by 2050: The company aims to achieve carbon neutrality by 2050 and has set a RE100 target (100% renewable energy usage) by 2035.
Regular Performance Monitoring: Progress toward these goals will be monitored regularly to ensure effective implementation.
CCUS Technology Adoption: ECORBIT plans to adopt Carbon Capture, Utilization, and Storage (CCUS) technologies as they become commercially viable, reinforcing its commitment to carbon neutrality.
Workplace Safety & Health
ECORBIT is prioritizing workplace safety through systematic safety inspections and risk management.
In 2023, joint safety inspections were conducted at 152 major sites, identifying and addressing risks. As of the end of 2023, 97% of identified risks have been resolved.
For 2024, ECORBIT plans to:
✅ Enhance industrial accident prevention
✅ Improve occupational health & safety management
✅ Establish an autonomous safety culture across its facilities
Strengthening ESG Governance
ECORBIT has institutionalized ESG management through the ESG Management Committee, which integrates ESG principles into corporate strategy and evaluates ESG performance.
The ESG Committee formulates strategies that are executed by the ESG Task Force and reported to the Compliance Committee under the Board of Directors, ensuring governance transparency.
To enhance corporate governance, the company has set specific goals:
✅ Increase the number of independent directors
✅ Expand female representation on the board by 2026
CEO Message: ‘Together for the Happiness’
ECORBIT’s CEO, Choi In-ho, introduced the company’s ESG vision, "Together for the Happiness," emphasizing ECORBIT’s commitment to transparency and sustainable development.
He stated:
"With this first Sustainability Report, we aim to share our efforts openly and transparently. We invite all stakeholders to join us in shaping a better future together."
Commitment to Transparency & Stakeholder Engagement
ECORBIT reaffirmed its commitment to ESG-driven growth by promising to communicate transparently with stakeholders and actively disclose its progress on material ESG issues.
