- The corporate has aimed for a 100% discount in greenhouse fuel emissions by 2050 via ‘carbon neutrality.’
Since declaring its ESG framework in 2006, Coway has actively applied its mission, imaginative and prescient, environmental insurance policies, and objectives.
In 2021, Coway strengthened its commitments by establishing an ESG committee and accelerated its strategic ESG objectives by publicly disclosing initiatives to be reached in every space by 2023.
- Waste Restoration and Recycling System for Improved Useful resource Circulation
Coway seeks to maneuver in direction of a round financial system by utilizing a cycle of recovering, reusing, and recycling previous assets. The objective is to attain a 100% waste recycling charge and a 100% industrial waste useful resource restoration charge by 2030.
An instance of that is Coway’s waste mattress restoration and recycling system, which has been in impact since 2018. The corporate takes management of your entire recycling course of, from amassing used mattresses to chopping and shredding, and separating precious supplies similar to scrap metallic and artificial resin to advertise extra environment friendly useful resource circulation. The system was acknowledged by the Ministry of Atmosphere as an exemplary case of useful resource circulation in
Coway additionally minimizes its environmental impression by utilizing recycled supplies in its merchandise. The Winner Air Air purifier makes use of recycled PCR plastics in most inner and exterior parts, considerably decreasing waste. Since 2022, Coway has additionally used non-combustible recycled supplies in its bidet merchandise, with plans for additional enlargement.
- Renewable Vitality Utilization in Enterprise Websites
To scale back greenhouse fuel emissions and environmental pollution all through the manufacturing processes, Coway has invested in and continues to undertake renewable vitality sources. The corporate is utilizing solar energy in three of its factories “ Yugu Manufacturing unit (49.5kWh), Incheon Manufacturing unit (39kWh), and Pocheon Manufacturing unit (45kWh), in addition to in Yugu distribution middle (1,048.8kWh). The corporate additionally produces renewable vitality via solar energy vegetation 001 and 002.
In 2023, these installations enabled Coway to provide and eat roughly 185 MWh of electrical energy internally, which is the equal of decreasing greenhouse fuel emissions by about 81 tons.
- Cultivation of Eco-Pleasant Tradition
Coway’s ongoing environmental campaigns promote its tradition of environmental consciousness. The “Coway River Plogging Marketing campaign” was initiated in 2022, and its annual occasions encourage eco-friendly practices like amassing litter whereas jogging or strolling close to water and fostering environmental stewardship in day by day life. The 2023 marketing campaign noticed a 41% enhance in participation in comparison with the earlier yr, a testomony to its widespread neighborhood assist.
The Coway “Classroom Forest Venture” instills environmental consciousness amongst kids by donating air-purifying vegetation to elementary colleges nationwide, creating environmental consciousness, and educating them concerning the significance of defending the setting.
In recognition of its efforts, Coway achieved an ‘A’ grade within the 2023 KCGS ESG Analysis & Scores and obtained the Business Minister’s Award on the 2023 Company Innovation Awards, collectively hosted by the Korea Chamber of Commerce and Business and the Ministry of Commerce, Business and Vitality. Coway has additionally been positioned on the 2023 Dow Jones Sustainability Asia/Pacific Index for 11 consecutive years, affirming its ESG administration achievements.
A Coway spokesperson said, “Coway stays dedicated to creating our ESG administration imaginative and prescient of ‘Making a Higher Earth’ a actuality by enhancing our environmental administration techniques to cut back greenhouse fuel emissions and obtain carbon neutrality.”
About Coway Co., Ltd.
Established in