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2019 Esg Incident Report

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2019 Esg Incident Report T O DAY I S T O M O R R O W 2019ESGINCIDENTREPORT ThisreportisbasedonWho’sGoodESGIncidentAnalysis,poweredbyArtificialIntelligence(AI) algorithmsandnewsdatabasedon90+localandnationalnewsmediaprovidersinKorea. ESGIncidentAnalysis:www.esgincident.com www.whosgood.org Contact:[email protected] Copyright©2020Who'sGood T O D A Y ’ S N E W S , T O M O R R O W ’ S I M P A C T E S G I N C I D E N T A N A L Y S I S . ThisreportisbasedonWho’sGoodESGIncidentAnalysis,poweredbyArtificialIntelligence(AI)algorithmsandnewsdatabasedon 90+localandnationalnewsmediaprovidersinKorea.ThisreportprovidesanoverviewofthecorporateESGincidentsin2019, analyzedbyindustrygroups,ESGissuesandcompanygroups. Asia’sFirstAI-Driven ESGInsightProvider AboutWho’sGood,PBC Usingpublicdata,Who’sGoodprovidesobjective andup-to-datecorporateESGinsights.Ourproductsinclude ESGPerformanceAnalysis,whichevaluatesnon-financial(ESG)management performancebasedonpublicdata;ESGIncidentAnalysis,which analyzescompanies'ESGrisksutilizingnewsdata; andSCB(SustainabilityCreditBureau),whichisasustainability creditratingservice,selectedas‘InnovativeFinancialServices’ bytheFinancialServicesCommissionofKorea. Copyright©2020Who'sGood Contents Ⅰ.Preface Ⅳ.Ris#k#iestCompanieswithinSector ## 1.Hardware&Semiconductors Ⅱ.Methodology -Sam#su#ngElectronicsCo.,Ltd. 2.ConsumerDiscretionaryService Ⅲ.Summaryof2019ESGincidents ## -YGEntertainment,Inc. 1.2019AnalysisOverview 3.ConsumerDiscretionaryManufacture 2.ESGIncidentTrends -HyundaiMotorCo.,Ltd. 3.IssueAnalysis 4.Energy 4.BusinessGroupAnalysis -SKInnovationCo.,Ltd. 5.SectorAnalysis 5.Industrials -KoreaShipbuilding&OffshoreEngineeringCo.,Ltd. 6.Materials -YoungPoongCorp. 7.Financial&Holdings -ShinhanFinancialGroupCo.,Ltd. 8.Information&CommunicationTechnology -KTCorp. 9.Transportation -AsianaAirlines,Inc. 10.Bio&HealthCare -KOLONLifeScience,Inc. 11.ConsumerStaplesManufacture AekyungIndustrialCo.,Ltd. 12.Commercial&ProfessionalService -SamsungC&TCorp. Ⅴ.Appendix:ESGIssueClassification ## Copyright©2020Who'sGood Authors DukChanYoon MaximNam VasundharaDehiya SooYoungKim JuYeonLee JiwonKim Advisor BruceWonilLee Who'sGood,PBC 6 2019 ESGINCIDENTREPORT Ⅰ.Preface 2019wasaremarkableyearforresponsibleinvestmentintheKoreanfinancialmarket.Amongthreemajorpolicies required for responsible investment, which are ESG integration of pension funds, stewardship code, and the disclosureofcorporateESGinformation,Koreahasmadeexceptionalprogressinimplementingthestewardshipcode andintegratingESG. First,2019isthefirstyeartoimplementthestewardshipcodeinKoreawhichwasintroducedin2018bytheNational PensionService(NPS),theworld’sthird-largestnationalpensionfund.Untilrecently,theNPSvotedagainst10%of proposalsinshareholdersmeetings,butin2019thenumberincreasedto20%forthefirsttime.Onesignificantcase wastovoteagainstChairmanChoYang-ho’sre-electionasadirectorofKoreanAir.ChoYang-ho,thechairmanof Hanjin Group, which is the 13th biggest business group in Korea, stepped down after 20 years of management becauseofhisfamily-riskovergapjilscandals.ThisindicatesanoteworthymomentnotonlyinthehistoryofKorea's responsibleinvestment,butalsointheKoreancapitalmarketandtheindustry.TheincidentalarmedmanyKorean companies, and it led to the increased awareness of the importance of ESG. It also became an opportunity for overseasinstitutionalinvestorstore-evaluatetheKoreancapitalmarket. Second,theNPSreleasedthepolicytoboostresponsibleinvestmentonNovember30,2019.Thisincludesadetailed plantoapplyresponsibleinvestmenttodomesticandforeignstocksandbondsworth600trillionKoreanwoninthe fund.ItmarksthefirsttimeforNPStoreleasethiskindofcomprehensiveRIplaninmorethanadecade,sincejoining theUNPRIin2009.Consideringthatitsfundwithresponsibleinvestmentwasonly7trillionKoreanwonin2016,this isabreakthroughforresponsibleinvestmentinKorea. Inthenearfuture,ESGdisclosurewillberequirednotonlybykeystakeholdersinthemarketbutbythelaw,andthe scopefordisclosurewillbeincreased.WhilegovernancehasbeenemphasizedthemostamongE,SandGsofar, environmental and social performance also will be required to strengthen corporate sustainability and corporate value.Thecapitalmarkethasbeenmovingtowardssustainability,transparency,andstewardshipresponsibilityinthis decade,ledbycountriesinEuropeandtheUnitedStates,sincethe2008globalfinancialcrisis. Since2014,Who’sGoodhasanalyzedthecompany’sESGdatabasedonpublicdataandbigdatatorespondquicklyto this global movement towards corporate sustainability and provided Korean companies’ ESG data and insights to investorsaroundtheworld.ESGIncidentAnalysis,launchedin2018,automaticallyanalyzesESGrelatednewsdata.In 2019,weupgradedouranalysisalgorithmsandprovidedrawdata,platform,andreportstosuittheneedsofour customers. ThisisthesecondannualESGIncidentReportafteritslaunchin2018.Wehopethatthisreportcanbeavaluable resource for global investors to observe Korea’s movement towards responsible investment and for companies to observe their own ESG risks and strategize CSR policies. Furthermore, we sincerely hope to see even more active participation and dynamic discussion on corporate sustainability, social responsibility, and investors’ stewardship responsibilityin2020. Who'sGood,PBC 7 2019 ESGINCIDENTREPORT Ⅱ.Methodology ESGIncidentAnalysisanalyzesnewsarticlesaboutcorporateincidentsinreal-timethroughartificialintelligence(AI)toprovide corporateenvironmental,social,andgovernance(ESG)riskdata. AnalysisProcess Who’s Good ESG Incident Analysis is based on automation and Artificial Intelligence algorithms, including Natural Language Processing and Machine Learning. Automation of big data analysis allows us to scale up faster and process large volumes of contentthataregenerateddaily.CorporateESGriskisevaluatedbasedontheseverityandfrequencyofESGincidents. NEWSARTICLES 17ESGISSUES RISKSCORING INSIGHTS Collectmorethan10,000 AnalyzearticlesusingAI EvaluateESGriskby ProvideESGriskinsights corporatenewsarticles andcategorizetheminto measuringtheseverityand withhistorictrendsgraph everyday. 17ESGissues. frequencyofincidents. andpeercomparison. ESGIncidentRiskScore A company's incidents can damage a wide range of stakeholders. For example, harmful chemical substances emitted from a company's factory can pollute the environment, which can directly damage the health of local residentsorworkers.ESGriskscoresarederivedbymeasuring the severity and frequency of incidents in news articles that haveaffectedvariousstakeholders. ESGCompanyRiskScore Acompany’sESGriskisscoredbythemesandissuesinconsiderationofthefrequencyof articlesandseverityoftheincidents.ThehighertheESGriskscore,themorefrequently andrecentlycompaniesareexposedtoavarietyofESGissues.Ourclientscanobserve ESG risk changes over time, compare scores with peer companies, and determine whetheranyESGincidenthasaffectedstockprices. Who'sGood,PBC 8 Ⅲ.Summaryof2019ESGincidents 1.2019AnalysisOverview. Accordingtoouranalysisofmorethan5.1millionnewsarticlesreportedbytheKoreanmediaon2,280listedcompaniesbetween Jan.1andDec.31,2019,atotalof583(25.6%)ofthelistedcompanieshadincidentsrelatedtotheenvironment,societyand governance (hereinafter ESG). Of the KOSPI 200 listed companies, 164 (82%) experienced at least one ESG incident, which comprisesfouroutoffivecompanies.Duringthisperiod,atotalof714,298articleswerecorporatenews,ofwhich17,281were aboutESGincidents. ESGINCIDENTANALYSIS AnalysisPeriod Jan1,2019-Dec31,2019 TODAY’SNEWS, Numberofmedia 91localandnationalmediainKorea TOMORROW’SIMPACT sources Numberofcompanies 2,280companies analyzed Numberofcompanies 583companies withESGincidentsby -Environment30companies category -Social290companies -Governance487companies Numberofcompanies 164companies withESGincidentsamong KOSPI200 Numberofnews 5,096,644articles articlesanalyzed NumberofESG 17,281articles/714,298articles incidentnews/ corporatenews Who'sGood,PBC 9 2019 ESGINCIDENTREPORT 2.ESGIncidentTrend. 583companieswithESGincidentsincreasedby 12% year-on-year . ThenumberofcompanieswithESGincidentshasincreasedfrom499in2015to583in2019,basedon5-yearanalysisdata.While thismayhavebeentheresultofmoreESGaccidentsoverthepreviousyear,itmaybemorereasonabletosaythatitisdueto increasedmediamonitoringandincreasedpublicinterests.Itisbecomingmorecrucialforcompaniestoidentifyandobjectively manage ESG risks. It is also evident that the number of companies with environmental issues is on the rise, while social and governanceissuesaremoreapparentamongESG. NumberofCompanieswithESGIncidentsin2015~2019 Amongthe583companiesthatexperiencedESGincidentsin2019,30companieshadenvironmentalissues,290companieshad socialissues,and487companieshadcorporategovernanceissues.Itcanbeinferredthatcorporategovernanceissuesaregetting moreattentioncomparedtoenvironmentalandsocialissues.ThenumberofcompanieswithESGissuesin2019hasincreasedby 12%to583comparedto516companiesinthepreviousyear. Who'sGood,PBC 10 2019 ESGINCIDENTREPORT YGEntertainmentandSKInnovation’sESGRiskUpsurgefrom2018 . CompanieswithincreasedESGriskratingsoverthepreviousyear CompanyName 2018ESGRatingandScore 2019ESGRatingandScore Trend 1 YGEntertainment,Inc. Medium(1.6) Extreme(4.7) ▲3 2 SKInnovationCo.,Ltd. Medium(2.5) Extreme(4.6) ▲3 3 KiaMotorsCorp. VeryHigh(3.9) Extreme(4.6) ▲1 4 YoungPoongCorp. VeryHigh(4.5) Extreme(4.6) ▲1 5 SKChemicalsCo.Ltd. Medium(2.2) VeryHigh(4.5) ▲2 6 HyundaiSteelCo. High(3.2) VeryHigh(4.4) ▲1 7 KOLONLifeScience,Inc. Low(1.4) VeryHigh(4.3) ▲3 8 LGChemLtd. Medium(2.0) VeryHigh(4.3) ▲2 9 HANJINKALCorp. Medium(2.5) VeryHigh(4.2) ▲2 10 SKHoldingsCo.,Ltd. High(3.1) VeryHigh(4.1) ▲1 62 (19%) out of 328 companies* had higher ESG risk levels compared to ESGRiskLevelDistribution
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