The Win-Win Growth Committee Promotes ESG Support Projects for Partner SMEs

Comprehensive Support Including ESG Education, Competency Assessment, and On-site Inspection (Consulting)

[Asia Economy Reporter Kim Heeyoon] The Win-Win Growth Committee (Chairman Kwon Ki-hong, hereinafter referred to as the Committee) announced on the 19th that it is recruiting participating companies for the '2021 Partner Company ESG Support Project' to enhance the ESG response capabilities of small and medium-sized enterprises (SMEs).

The recruitment targets are domestic large corporations, medium-sized enterprises, and public institutions (hereinafter referred to as participating companies). The Partner Company ESG Support Project is a comprehensive support program in which the Committee and participating companies jointly provide ESG education, capability diagnosis, and on-site inspection (consulting) for cooperating SMEs.

Since signing a three-year agreement starting in 2019, Lotte Chemical, participating in the project, reorganized the Committee's CSR standard guidelines to fit the chemical industry and supported education, capability diagnosis, and on-site inspection (consulting) for about 30 cooperating SMEs annually. As a result, the average CSR compliance rate significantly improved, establishing a stable export foundation, according to the Committee.

The Committee awarded certificates of excellence to cooperating SMEs with high compliance rates among those participating in the project. Lotte Chemical provided preferential transaction benefits such as increased delivery prices to these excellent companies.

The win-win cooperation fund contributed by participating companies to support the ESG efforts of cooperating SMEs is eligible for tax benefits such as corporate tax deductions and recognition as designated donations.

A Committee official stated, "To expand the Partner Company ESG Support Project, we plan to gradually reflect the ESG support performance of participating companies for their cooperating SMEs in the Win-Win Growth Index," adding, "Additionally, we are discussing providing financial support incentives such as preferential interest rates to excellent cooperating SMEs that have introduced ESG management."

Meanwhile, companies wishing to participate in the 2021 Partner Company ESG Support Project can check the announcement and application form on the Win-Win Growth Committee's website notice board.