Choi Joo-sun, Chief Executive Officer at Samsung Display, recently made an announcement about the company becoming a part of the Responsible Domestic Alliance. The announcement, which was made a couple of days back, is one of the many steps the company has taken in order to make its environmental, social, and governance (ESG) involvement stronger.
The Responsible Business Alliance or RBA happens to be a global industry coalition the members of which have to adhere to a code of conduct that has been designed around the ethics one needs to swear by while working in a corporate organization. Right now, close to 160 global organizations are members of the Responsible Business Alliance. Some of the prominent members include Intel, Samsung Electronics, and Apple.
Shin Jae-ho, who heads the display management division at Samsung Display, has stated that being “a global leader in the display industry, Samsung Display has been prioritizing environmental and social values in the entire process of product manufacturing.” He further stated that Samsung Display will strive harder towards becoming an organization that sets prominent examples of Corporate Social Responsibility (CSR) and continues to strengthen its relationship with consumers and various other members of the society by taking initiatives in this direction.
As a member of the Responsible Business Alliance, Samsung Display will also get certain rights and privileges which it can use to further its penetration in the display market. Till now, it carried out business practices while adhering to domestic laws. Now, as a member of the RBA, it will have access to a lot of things that it didn’t have at its disposal earlier. The RBA code has five important sections. Samsung Display plans to adhere to them and use them constructively to propel its business forward. The five critical sections cover areas like environment, labor, management systems, health and safety, and business ethics.
Samsung Display has also said that all the steps it takes in the future will be in accordance with the international ESG standards and not just limited to domestic offices. The company’s energies would be channelized towards carrying out onsite audits and working on strengthening its working ecosystem and management systems at its international offices.
The Validated Assessment Program put together by different organizations of global repute will also play an integral role in this. Samsung Display will undertake an initiative to put together a Sustainable Management Secretariat along with a team that would consult the company on its ESG strategy.