Lotte top retailer for sustainabilityLotte Shopping made it onto the Dow Jones Sustainability Index (DJSI) World List for the sixth consecutive year, the company announced on Thursday, and is the only Korean retail company to have made the ranking.
The DJSI list scores companies worldwide based on their economic, environmental and social performance, and is considered one of the most reliable benchmarks for corporate responsibility and sustainability.
Lotte was also chosen as the leader in its industry group, retailing, for the fifth year in a row and the company’s overall score of 80 was far higher than the average score of 52 for other major retailers.
Launched in 1999, the DJSI ranks the 250 best companies out of the 2,500 largest companies in the world. The index is managed jointly by S&P Dow Jones Indices and RobecoSAM, a sustainable investment company.
Lotte Shopping said that it attributes its achievement to the emphasis the company places on environmental sustainability.
For instance, in 2004 Lotte Shopping adopted a greenhouse gas inventory system that monitors the greenhouse gases emitted by the company over a designated period of time. It is often used by companies to establish a baseline for analyzing emission trends and developing strategies to reduce emissions.
The company also said that it has showed its corporate responsibility by financially supporting volunteers who go to less developed countries to install photovoltaic lighting.
The head of Lotte Shopping praised the company’s accomplishment.
“Lotte Shopping has kept its spot on the Dow Jones Sustainability Index World List for six consecutive years and has been recognized as the leader in the retail industry for five years in a row,” said Lotte Shopping CEO Lee Won-joon. “This proves that Lotte’s efforts to meet global standards have paid off.”
Lotte Shopping operates major retail chains such as Lotte Department Store, Lotte Duty Free Shop and Lotte Mart.
Along with Lotte, a total of 22 Korean companies made it on the list, including Posco, SK Telecom and KT, as well as Samsung Electronics and LG Electronics. Samsung C&T and Samsung Fire and Marine Insurance were included on the DJSI for the first time.
Korean companies’ presence on the list is on the rise. In 2008, only three Korean companies were selected, but that figure has steadily increased.
BY PARK EUN-JEE[email@example.com]