Pulmuone announced on the 14th that it has been recognized for sustainability in the 2023 Corporate Sustainability Assessment (CSA), conducted by S&P Global, one of the world's three major credit rating agencies, and has entered the global Top 5 for the first time in the food sector.
This ranking places Pulmuone in the top 1% of global food companies participating in the assessment and represents the highest ranking among domestic food companies.
Pulmuone has also achieved the top position in the governance & economic dimension among global food companies, solidifying its position as a leading global ESG company.
S&P CSA (Corporate Sustainability Assessment) is a globally respected indicator for evaluating a company's sustainability and investment performance. It comprehensively assesses both financial and non-financial performance, including environmental, social, and governance aspects. The evaluation results are utilized in constructing sustainability and ESG-related indices.
According to the S&P Annual Report released on the 7th, 9,400 companies across 62 industries worldwide participated in this CSA evaluation, with 260 companies participating in the food industry.
Pulmuone received high evaluations in the Governance & Economic dimension, including materiality assessment, risk & crisis management, and supply chain management. In the Environmental dimension, the company was praised for water management and biodiversity. Additionally, in the Social dimension, Pulmuone garnered high ratings for human rights and health & nutrition issues.
Pulmuone utilizes the Double Materiality Assessment to identify key issues affecting both the company and stakeholders. Moreover, it links performance to goals in executive compensation, effectively managing and executing indicators. Pulmuone has integrated sustainability into key performance indicators (KPIs) for top executives, aligning sustainable growth and compensation.
In the area of risk & crisis management, Pulmuone received recognition as the world’s best organization. Pulmuone operates a comprehensive integrated risk management system that extends beyond financial areas to cover non-financial aspects. From risk identification to assessment, response, and monitoring, Pulmuone systematically manages risks in an integrated manner. The company was particularly praised for transparently disclosing potential risks related to climate change and environmental law changes, along with proactive adaptation measures.
In the supply chain management sector, Pulmuone adheres to the 'Cooperation Company Code of Conduct,' preferring transactions with partner companies that agree to the code. The code covers safety and health in the workplace, human rights, environmental responsibility, and ethical management. Pulmuone also conducts 'Supply Chain ESG Diagnosis and Audit' of core partner companies through external professional organizations.
In the environmental dimension, Pulmuone showed improvements in water management and biodiversity compared to the previous year. The company identifies and transparently discloses risks and opportunities related to water resources, significantly increasing water efficiency and improving water resource management. Pulmuone manages environmental pollutant discharges from facilities directly affecting aquatic ecosystems at levels below 50% of legal requirements or agricultural water quality standards, minimizing impacts on the surrounding ecosystem.
Under the 'Eco-Caring' strategy, Pulmuone has implemented the 'Nature Positive Commitment' policy regarding biodiversity. This policy pledges to prevent biodiversity loss due to business operations in conservation areas and nearby facilities by 2050.
Pulmuone releases environmentally conscious products for sustainable environments. In August 2022, the company launched the sustainable food brand 'Pulmuone Jigusikdan,' which is a combination of Jigu(Earth) and Sikdan(Diet), focusing on plant-based and animal welfare foods as future growth drivers. Pulmuone plans to concentrate on the plant-based food brand to expand its product lineup targeting not only the domestic sustainable food market but also the global market.
In the social dimension, improvements were observed in human rights management compared to the previous year. The company adheres to global standards such as the Universal Declaration of Human Rights and the UN Guiding Principles on Business and Human Rights (UNGP), conducting regular human rights impact assessments to identify and mitigate risks. Moreover, Pulmuone monitors human rights infringement-related issues through official online and offline channels and promptly executes dispute resolution procedures when issues are identified.
In the 'Health and Nutrition' criteria, which evaluates whether the company considers consumer health and nutrition in the product development and marketing processes, Pulmuone received the highest industry rating for the second consecutive year. The company was highly praised for adhering to principles of creating products based on a diet that considers the consumer's nutrition balance, and caring ecosystem in the manufacturing process and facility design, as well as managing and transparently disclosing raw materials and additives through Clean Label.
"Under the mission of being a company that creates a healthy tomorrow for people and the Earth through wholesome foods, Pulmuone has clearly proven itself as a leading ESG company in this CSA evaluation," said Oh Kyeong-seok, Head of Sustainable Management at Pulmuone. "We will continue to practice sustainable ESG management for the creation of economic, social, and environmental values."