Daewoo Shipbuilding develops ESG assessment indexes

▲ This photo provided by Daewoo Shipbuilding & Marine Engineering Co. (DSME) on Sept. 22, 2022, shows a shuttle oil tanker built by DSME. (PHOTO NOT FOR SALE) (Yonhap)

Daewoo Shipbuilding-ESG indexes

Daewoo Shipbuilding develops ESG assessment indexes

SEOUL, Sept. 22 (Yonhap) -- Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Thursday it has developed indexes to assess the performance of its ESG management activities for the first time among local shipyards.

DSME, a major local shipbuilder, said it has applied the 146 ESG indexes to its Okpo shipyard on Geoje Island, about 400 kilometers south of Seoul.

ESG is short for environmental, social and governance criteria using factors to evaluate companies on how far advanced they are in the sectors of environmental protection, social justice and business ethics.

DSME had cooperated with Korean Register, a South Korean ship quality assurance and risk management company, in developing the indexes -- 48 on environment, 44 social ones and 54 governance items.

DSME said the indexes include items tailored for the local shipbuilding industry, including those on safety, eco-friendliness, smart ship technologies and a labor-management culture.

DSME's move comes as ESG has emerged as a key assessment factor for decisions on investment in companies across the globe.

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