KAI beefs up ESG efforts for sustainable management
Posted : 2021-06-25 09:00
Updated : 2021-06-25 17:23
Students at Sacheon Elementary School in Sacheon, South Gyeongsang Province, hold toy airplanes in the school gym during an Aviation Camp organized by Korea Aerospace Industries (KAI), April 14. Courtesy of KAI
Company gets anti-bribery management systems certification for 1st time in Korean defense industry
By Kang Seung-woo
After establishing itself as a leading presence in the nation s defense industry, Korea Aerospace Industries (KAI) is now shifting its focus to environmental, social and corporate governance (ESG) sustainable management.
According to the Korea Corporate Governance Service (KCGS), KAI was awarded an A grade in its 2020 ESG overall rating for the third straight year, the first such achievement among domestic defense companies, showing that it is capable of practicing ESG management at the highest level.
Coway Continues the ESG Initiatives for a Sustainable Future
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SEOUL, South Korea, June 22, 2021 /PRNewswire/ Coway Co., Ltd. announced its environmental, social, and governance (ESG) commitments in line with South Korea s 2050 carbon neutrality goals.
As a leading environmental home appliances company, Coway pledged to follow an ESG framework that would minimize the impact of its business operations since 2006. The company has now put a variety of these initiatives into action.
Continued Commitment to Environmental Sustainability
Coway announced that it intends to reduce greenhouse gas emissions by half in comparison to its 2020 levels by 2030. In the mid-to-long term, the company plans to operate on 100 percent renewable energy and be fully carbon neutral by 2050.
Major business lobby groups actualizing ESG programs
Posted : 2021-05-13 16:53
Updated : 2021-05-13 17:25
Federation of Korean Industries (FKI) Vice Chairman and CEO Kwon Tae-shin, sixth from left, and AMCHAM Chairman and CEO James Kim, fourth from left, pose with other dignitaries during the 1st U.S.-Korea ESG Forum, hosted by the FKI at its headquarters in Seoul, Thursday. Yonhap
By Yi Whan-woo
The country s major business lobby groups are starting to realize their environmental, social and corporate governance (ESG) initiatives, after having set up relevant internal organizations to lead them this year.
On Wednesday, the Federation of Korean Industries (FKI) hosted the inaugural meeting of the K-ESG Alliance, which it launched on April 14 to support small- and medium-sized enterprises (SMEs) getting on the ESG bandwagon, in addition to conglomerates.
S-OIL said Wednesday that it established an in-house ESG committee to strengthen environmentally-sustainable management practices.
The ESG committee will be tasked with creating basic environmental, social and governance (ESG) policies, strategies and a roadmap to enable the systematic and integrated management of such practices.
The committee will consist of seven members ― the heads of the Corporate Strategy HQ, the Corporate Affairs Division, the Safety & Environment Division, and the Refinery Innovation & Coordination Division, the Treasurer, the Compliance Officer, and the president of Corporate Strategy & Services, who will chair the committee.
It will convene a regular meeting every quarter to discuss, evaluate, and deliberate ESG management activities.