CJMY
Coway, Malaysia’s leading water and air purifier company, announced it had acquired the second-highest MSCI ESG rating.
MSCI evaluates ESG ratings on a scale from AAA (leader) to CCC (laggard) based on its analysis of the company’s environmental, social, and governance initiatives.
The water and air purifier specialist received an ESG rating of “AA”.
Strong commitment from Coway
Coway has made multiple initiatives to show its commitment to the environment, society, and governance.
In 2021, the company established an ESG Committee under the Board of Directors for strategic ESG management.
The MSCI ratings also affirm Coway’s leading position in navigating ESG issues in the household durables industry.
“We’re pursuing ESG management at a company-wide level to fulfil financial performance and environmental and social responsibility,” said an official from Coway.
Reducing environmental impact
In 2016, Coway declared the goal of becoming net zero by 2050 and reducing greenhouse gas emissions by 50% by 2030.
The company significantly minimises environmental impact throughout the product life cycle from design to development, sales, repurposing, and recycling.
Its initiatives include:
- Eco-friendly product development.
- Renewable energy usage.
- A waste take-back program.
- Resource circulations.
In 2021, the company successfully reduced 104.4 tons of GHG emissions by generating renewable solar energy.
Coway also recycles 99% of the waste generated from products, services, and business sites through the recycling and refurbishment systems.
In addition, using recycled materials in product development contributes to reduced resource consumption.
