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
To bolster the integration of ESG throughout our business, we have established a cross-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 Steering 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.
