![[단독] Financial Services Commission, KOSDAQ also reviewed mandatory ESG disclosure](https://file.mk.co.kr/meet/neds/2021/02/image_readtop_2021_110743_16122766694529030.jpg "[단독] Financial Services Commission, KOSDAQ also reviewed mandatory ESG disclosure")
After the financial authorities have required all KOSPI-listed companies to disclose the status of environmental, responsible and transparent management (ESG) from 2030, they are reviewing the mandatory disclosure of ESG for KOSDAQ listed companies. It also decided to provide specific guidelines for companies to disclose environmental risks and management situations more broadly. The plan to integrate the’Sustainability Report’ containing the current status of the environment (E) and responsible management (S) of companies and the’Corporate Governance Report’ including transparent management (G) activities is also promoted as a mid- to long-term task.
According to the securities industry on the 2nd, the financial authorities are reported to be considering imposing ESG disclosure obligations on KOSDAQ companies in order to actively respond to global ESG regulatory movements and to achieve equity with KOSPI listed companies. Currently, the financial authorities have decided to activate autonomous disclosure by increasing the number of ESG disclosure companies by 20% every year. However, from 2025, KOSPI-listed companies with assets of 2 trillion won or more will be obligated to disclose their sustainability management reports, and from 2030, it will be extended to all KOSPI-listed companies.
Companies are planning to review ways to integrate the sustainability report and corporate governance report, which are issued separately and at different times of mandatory disclosure. This allows investors to check the status of ESG by company at a glance. Financial authorities expect that the transparent disclosure of ESG information will be used as a standard for responsible investment by domestic and foreign institutions and will result in a virtuous cycle effect that promotes ESG by companies.
An official from the financial authorities said, “As the speed of spreading global ESG is accelerating, we will rush to prepare ESG supplementary measures for systematic response by domestic companies.” The Financial Services Commission plans to build an information sharing platform that can share’green statistics’ during the first half of this year.
[강계만 기자]
“Esg management captain CSO”… Hyundai Heavy·Shinhan Financial `A quick step`
Looking at the introduction of’ESG Management’, a major domestic company
Creating a secretariat directly under the CEO
Management of current issues with dedicated ESG personnel
Eui-seon Eui-Seon “Quality, the first step towards customer respect
Seungyeon Kim “Elevated to the world’s best ESG”
Chairman Taewon Choi, Taesu Heo and Jayeol Koo
Strive to introduce ESG management company-wide
Lotte Chemical Division, a carbon neutral spiral
Target of 6 trillion in eco-friendly sales in 2030
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Hyundai Heavy Industries Group established a group ESG organization earlier this year and appointed Sam-Hyun Ga, President of Korea Shipbuilding & Marine Engineering, as Chief Sustainability Officer (CSO). At’C level’, which means top management, CSO oversees the fields of environment (E), responsibility (S), and transparent management (G). This is a new spot in line with the spread of global ESG. In Hyundai Heavy Industries Group, Hyundai Oilbank announced’Carbon Neutral Green Growth’ in September last year, and Hyundai Heavy Industries announced that it will invest 1 trillion won through IPOs in eco-friendly future businesses, followed by the group-wide ESG system. It was left to the president of Ga to build. An official of Hyundai Heavy Industries Group emphasized, “We will put ESG first, with a sense of responsibility as a representative group that runs national infrastructure.”
CSO is the chief executive who is dedicated to corporate sustainability. Shinhan Financial Group opened a CSO position, and Hyundai Heavy Industries Group also joined this time. EY, a global accounting consulting firm, has joined the launch of the S30 Council, which is composed of CSOs of 30 global companies. Business owners and CEOs are betting on ESG. It established an ESG committee on the board of directors, established an ESG secretariat directly under the CEO, and took care of non-financial issues. ESG Chief Executive Officer has been newly established one after another and is emphasizing the organization in charge.
Samsung Electronics upgraded the Sustainability Management Council, which negotiates company-wide sustainability management strategies, to the Chief Financial Officer (CFO), and dragged the Sustainability Management Secretariat, which was operated under the Management Support Office, to the Sustainability Management Promotion Center under the direct control of the CEO. Raised. In particular, along with Samsung C&T, the entire financial affiliates quickly started to declare coal-free. Samsung Life Insurance, Fire Insurance, Securities, and Asset Management have joined the coal-fired stream. It is a declaration that it will stop funding related to coal mining or power generation. In addition, ESG investment guidelines to actively invest in eco-friendly assets have been established and applied to actual investment activities since the end of last year.
The Hyundai Motor Group is actively promoting the’E’ (environment) by strengthening the eco-friendly hydrogen electric vehicle business. To reinforce such eco-friendly business, it plans to issue ESG bonds worth 600 billion won this month. ESG bonds are required to accurately state whether the funds raised through issuance are properly used for ESG. That is why they have a strong commitment to ESG. Hyundai Motor Group Chairman Eui-sun Eui-sun said, “The first step to respecting customers is quality and safety,” and decided to focus on preventing safety accidents.
SK, which is evolving into a specialized investment holding company, is putting emphasis on profitability as well as how much social value the investment can create in the process of selecting an investment target. LG Group has taken steps to practice carbon neutrality by developing eco-friendly products through technological innovation. In particular, LG Electronics, a key affiliate of the group, has set up a plan to achieve carbon neutrality early in 2030, 20 years earlier than the government target.
On the 2nd, Lotte Group’s Chemical Business Division (BU) announced’Green Promise 2030′, which set the goal of achieving 6 trillion won in eco-friendly sales and promoting carbon-neutral growth in 2030, and contains business directions and tasks. . Participating affiliates are Lotte Chemical, Lotte Fine Chemical, Lotte Aluminum, and Lotte BP Chemical. These chemical affiliates plan to invest about 5.2 trillion won in four key tasks, such as △Strengthening eco-friendly business △Expanding the virtuous cycle of resources △Responding to the climate crisis and creating a green ecosystem. The Lotte Group will expand the eco-friendly specialty material sector and strengthen the recycled material business in connection with the virtuous cycle of resources. On that day, six steel companies, including POSCO, Hyundai Steel, Dongkuk Steel, KG Dongbu Steel, SeAH Steel, and Simpac, signed the ‘2050 Carbon Neutral Joint Declaration’ at the’Green Steel Committee’ inauguration ceremony held at the POSCO Center in Seoul. Steel companies, a representative carbon emission industry, declared their efforts to be carbon neutral to strengthen their weakness,’E’.
The Green Steel Committee is an industry-academic-related consultative body, and co-chairs were chaired by Jeong-woo Choi (Chairman of POSCO) and Vice-Chairman of Yonsei University Min Dong-jun. In its declaration, the Green Steel Committee said, “We will strive to realize a carbon-neutral steel mill by developing hydrogen reduction steel technology.”
Hanwha Group’s Chairman Seung-Yeon Kim directly stepped up sustainability management as the group’s goal. Chairman Kim said in his New Year’s address this year, “Sustainability management that creates socio-economic values should also be strengthened to a global level.” GS Group is also in charge of ESG management by Chairman Huh Tae-soo. Chairman Huh said in his New Year’s address earlier this year, “We will strive to discover new businesses based on strengthening digital capabilities and eco-friendly management.” Hanjin Group, which had many twists and turns, such as disputes over management rights and the acquisition of Asiana Airlines, is also working hard to improve ESG. An official of the group said, “Even in Corona 19, we have continued our efforts for social responsibility, such as operating a charter for the movement of Korean citizens.” KT&G spends more than 2% of its sales annually on social contribution activities.
[한우람 기자 / 강계만 기자 / 최근도 기자]
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