South Korean chipmaker SK hynix Inc. said Sunday it has moved up a notch to receive an A in the MSCI ESG Ratings assessment.

MSCI, or Morgan Stanley Capital International, is an American rating agency that measures, among other things, a company's resilience to long-term, financially relevant environmental, social and corporate governance issues (ESG) risks.

Since October 2020, SK hynix had been labeled BBB on a scale of AAA-CCC in the MSCI ESG Ratings assessment.

The latest upgrade put SK hynix within the top 20 in the ESG ranking for a total of 75 semiconductor companies, the world's second-largest memory chip maker said.

The company has been publishing its annual Sustainability Report since 2008 to offer investors information on its ESG activities.

In January last year, it also announced SV 2030, a road map for maximizing social value across the company in the areas of environment, shared growth, social safety net and corporate culture.

"While the company will continue to create economic value with its competitiveness in chipmaking, it will also work hard to tackle various social issues and reflect ESG values in the decision making process," the company said. (Yonhap)