This image, provided by South Korean auto parts maker Mando Corp. on March 22, 2021, shows its suspension system for vehicles.
SEOUL, July 5 (Korea Bizwire) — South Korean auto parts maker Mando Corp. said Monday it has received an “A” environmental, social and governance (ESG) rating form global index provider Morgan Stanley Capital International (MSCI) for its environmentally friendly growth value.
Mando said the company is the first among South Korean auto and auto parts manufacturers to have been awarded such an ESG rating by MSCI.
MSCI grants an A ESG rating to companies with a mixed or unexceptional track record of managing the most significant ESG risks and opportunities relative to industry peers.
The MSCI ESG Rating is meant to measure a firm’s resilience to long-term, industry material ESG risks. MSCI ESG Ratings range from leader (AAA, AA) to average (A, BBB, BB) to laggard (B, CCC).
Mando said it has been upgrading its MSCI ESG levels since 2018 by pushing ahead with investments in research and development of eco-friendly and innovative technologies, including its chassis clean tech.
Mando’s chassis clean tech refers to advanced eco-friendly technologies for producing all parts of a car chassis.
The company is expanding the application of those technologies to manufacturing parts supplied to such carmakers as Hyundai, Kia, General Motors, Ford, Volkswagen and other electric auto manufacturers.
Mando forecasts its chassis sales to reach 7.4 trillion won (US$6.6 billion) in 2025, up 40 percent from this year.
(Yonhap)
