NOROO Paint & Coatings Co., Ltd.
Climate Impact & Sustainability Data (2022)
Reporting Period: 2022
Environmental Metrics
ESG Focus Areas
- Environment
- Social
- Governance
Environmental Achievements
- Received the highest grade of A in its industry for two consecutive years due to its continuous efforts to publish sustainable management reports and to the environment, society and governance sectors.
Social Achievements
- Conducting various social sharing activities including helping disadvantaged neighbors, to establish ourselves as a win -win company that contributes to the community and customers and becomes happy together.
Governance Achievements
- Internalizing the ESG management system for continuous growth.
Climate Goals & Targets
Environmental Challenges
- Supply chain disruptions in major economies, rising raw material prices and a global recession continued due to the prolonged Russia-Ukraine war, side effects of inflation, accelerating monetary tightening in major economies and the resurgence of the COVID-19 variant.
- Limited growth expected amid uncertainties caused by internal and external business conditions, such as the conflict between the U.S. and China and growing global economic uncertainties due to interest rate hikes.
Mitigation Strategies
- Focus capabilities on securing discriminatory competitiveness based on the development of high-tech related to future growth industries (eco-friendly, bio, and specialized chemicals).
- Strengthen the liquidity management system for internal management (cash generation through inventory, bonds, and reduced working capital).
- Build an advanced ESG response system to comply with global standards and internalize the ESG management system by developing eco-friendly products and expanding the application of zero-carbon production methods.