[Global Finance Awards] Kyobo Life Insurance coverage tops sustainability rating for 13 straight years
A plaque is awarded to Cho Dae-kyu, head of the Sustainability Administration Planning Workplace of Kyobo Life Insurance coverage (left) on Thursday on the 2022 Korean Sustainability Convention in recognition of the agency rating first amongst insurance coverage corporations within the Korean Sustainability Index. (Kyobo Life Insurance coverage)
Kyobo Life Insurance coverage has been repeatedly incorporating sustainable improvement ideas into its enterprise methods and the hassle has been acknowledged in an industry-wide index for its socially accountable efforts.
The agency topped the 2022 Korean Sustainability Index amongst native insurance coverage corporations on Thursday, marking its thirteenth consecutive 12 months of securing the highest place since 2010.
The KSI is an ordinary for measuring company sustainability primarily based on ISO 26000, a world social accountability guideline outlined by the Worldwide Group for Standardization. Over 210 Korean corporations in 49 industries are ranked annually primarily based on the index by over 26,000 individuals together with consultants, shoppers, local people members, buyers and non-governmental organizations.
The Korean insurance coverage firm mentioned it attributed its excessive rating to its company philosophy of “cooperative improvement with involved individuals.”
Underneath this initiative, Kyobo Life insurance coverage inaugurated its Sustainable Environmental, Social, and Company Governance Committee in March, to foster ESG administration. It grew to become the {industry}’s first to rent two feminine exterior administrators in the identical month, and launched varied ESG insurance policies comparable to implementing a paperless workplace by introducing digital paperwork and a digital subscription system, and creating an open innovation platform to help startups.
The corporate mentioned its company social accountability applications, comparable to its undertaking to help youngsters in want and its program to help younger athletes, additionally earned the insurance coverage supplier excessive scores.
By Lee Seung-ku (seungku99@heraldcorp.com)
