- Jumping two grades from last year, the first year of its inception as an integrated corporation
- Receiving ‘A+’ in ‘Society’, four ratings above the level of last year, and B+ in both ‘Environment’ and ‘Governance’ sectors
- Concrete efforts being made including ▲ establishment of ESG Committee and ESG Management Office, ▲ operation of the TF for ESG management companywide, and ▲ creation of diverse platforms sharing ESG-related information this year
- “In coming years, we will innovate our business models in a practical manner based on ESG management to ensure sustained growth”

SK rent-a-car (CEO: Hwang Il-moon) made an announcement on the 28th that it achieved ESG Integrated Rating A, a two step jump from what it earned last year, in ‘2021 ESG _uation’ hosted by the Korea Corporate Governance Service (KCGS).

KCGS _uates companies listed on the Korea’s stock market in terms of environment, society, and governance and discloses its results on a yearly basis. This year, a total of 950 companies have been subject to the _uation. The grades are S, A+, A, B+, B, C, and D, with S being the highest and D being the lowest. 171 corporations, which accounts for 22% of 765 listed companies in total, received Integrated Rating A.

With the launch of SK rent-a-car as an integrated corporation last year, the company has drawn up a new welfare system and nurturing programs for employees to ensure stable operations putting ESG management at the heart of management. And at the same time, the company has refined its policies and systems to promote corporate culture convergence. Furthermore, SK rent-a-car has signed agreements to carry out social contribution projects while opening its website and gearing up for the publication of its sustainability report to make sure a higher level of disclosure of its socially responsible management through various channels. By doing so, SK rent-a-car has reinvented itself as ESG-centric management system.

As a result, the company achieved Integrated Rating A, two grades above what it obtained last year. In detail, it obtained Rating B+ in both ‘Environment’ and ‘Governance’ sectors, making one rating jump, and earned Rating A+ in the sector of ‘Society’, four grades above what it achieved last year.

Furthermore, the concrete efforts to reinforce ESG-centric management has been accelerated including ▲ the establishment of ESG Committee and ESG Management Office, ▲ the operation of ESG management TF companywide, and ▲ the creation of diverse platforms sharing ESG-related information.

Earlier this year, the company launched ESG Committee and convened its first meeting in June. The committee ensures free discussions without any formalities so that the practical discussions can be made with relevant guidelines being suggested at the BOD level. As a result, it has become an exemplary model of ESG management driven by the BOD. Besides, SK rent-a-car raised the status of its SV (Social Value) Promotion Team’ to ‘ESG Management Office’ with the aim to strengthen external and internal ESG connectivity as well as to put ESG management into action.

The Operation of ESG TF at the company level is one of its efforts for full-fledged ESG operations. The company encourages its employees to voluntarily join the efforts while striving to raise the awareness of ESG and make ESG practice permeate every corner of the company.

In an effort to disclose ESG-related principles, regulations, and systems as well as to share its governance, policies, and vision, the company has built its website for communication with various stakeholders. Along with this, it worked together with its parent company, SK networks, to jointly issue the sustainability report, thereby disclosing ESG-related qualitative data. SK rent-a-car plans to independently publish its own report starting from the next year.

In addition, SK rent-a-car issued KRW 98 billion worth of green bonds in February for the first time since its inception, aiming to purchase and distribute eco-friendly vehicles. In March, it joined K-EV100 campaign hosted by the Ministry of Environment, and set its target of converting its all vehicles, around 200,000 units, into eco-friendly ones by 2030 with interim steps of the adoption of 3,000 EVs in its Jeju branch by 2025. To this end, the construction of EV-exclusive complex, the largest one in Korea with a capacity of 7,200kW, is underway.

An SK rent-a-car official said, “in coming years, we will embed ESG management in every aspect of our operations and turn it into action so that SK rent-a-car can ensure sustained growth by innovating business models based on ESG management.”

[Photo 1] SK rent-a-car CI