We value environmental, social, and governance (ESG) criteria as a fundamental aspect of our strategy, covering product design, material sourcing, manufacturing, operations, and human capital and supply chain management. Consequently, to ensure a comprehensive approach to sustainability, ethics and corporate citizenship, we have integrated ESG considerations into our governance structure.

Board-level ESG oversight

The Board provides guidance and oversight by linking ESG factors to strategy and risk management. In practice, this has led to resource allocation for key initiatives, such as the purchase and installation of plasma scrubbers, investment in our water treatment processes, and the improvement of our ESG disclosures.

Management-level ESG Steering Committee

functional ESG Steering Committee. The Steering Committee, led by our Chief Compliance Officer (CCO) and General Counsel, reports to the Risk Committee of the Board at least on a quarterly basis. The committee is responsible for the development and implementation of ESG strategies, policies, and initiatives as well as overseeing periodic reporting and disclosures on ESG matters in compliance with applicable securities laws.

Diagram 6: ESG governance at Magnachip

Click here to read the ESG Steering Committee Charter