Samsung Display Co. stated that the company plans to enhance its environmental, social, and governance (ESG) participation this year. According to Samsung Display CEO Choi Joo-sun, the company acquired a Responsible Business Alliance (RBA) membership. The company’s RBA membership acquisition is in line with improving its ESG-focused management strategies.
The RBA is an initiative that promotes corporate social responsibility and establishes shared values between companies, workers, and communities. Since its foundation in 2004, the RBA supports over 160 global companies, including LG Electronics, Samsung Electronics, and SK hynix.
In the RBA Code of Conduct, members must comply with multiple global standards and management systems for better corporate ethics. These assessment activities would improve Samsung Display’s risk management, helping protect workers’ rights and communities’ safety. As an RBA member, Samsung Display will integrate the RBA Code of Conduct’s five sections to its supply chain–Labor, Health and Safety, Environmental, Ethics, and Management system.
“As a global leader in the display industry, Samsung Display has been prioritizing environmental and social values in the entire process of product manufacturing,” said Executive VP of Samsung Display’s Display Management Office, Shin Jae-ho. “Moreover, we will further evolve into a global company that earns trust from our customers and members of society and that dedicates to the development and happiness of humanity.”
Samsung Display’s ESG Involvement
Additionally, the South Korean display solutions provider plans to expand its RBA-based ESG involvement to its partners and international offices. Through RBA’s Validated Assessment Program (VAP), Samsung Display will strengthen onsite audit and due diligence reviews for improved working operations. Aside from taking RBA’s VAP, Samsung Display will acquire an RBA Code of Conduct compliance assessment from specialized evaluation agencies.
On top of its RBA membership acquisition, Samsung Display is advancing and implementing comprehensive ESG management throughout its business operations. Recently, Samsung Display created a consultative committee for its ESG policies and the ‘Sustainable Management Secretariat.’
In the consultative council, all Samsung Display business units will help reinforce the company’s ESG planning. In addition to these ESG-improvement ventures, Samsung Display organized mid-to-long-term plans for five promotion areas. The five promotion areas include climate change, resource circulation, sustainable products, win-win cooperation, and local communities.
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