"Answering Your ESG Questions"... KCCI Launches 'ESG Newsletter' Service

The Korea Chamber of Commerce and Industry in Jung-gu, Seoul, where the Commerce Day ceremony was held on the 31st. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Hwang Yoon-joo] The Korea Chamber of Commerce and Industry announced on the 10th that it will launch an 'ESG Newsletter' service starting in May to help companies easily understand ESG (Environment, Social, Governance).

The newsletter will be issued monthly and will consist of major ESG-related issues, domestic and international policies, corporate trends, and statistical indicators. It will be posted on the Korea Chamber of Commerce and Industry website (www.korcham.net) and distributed through 72 regional chambers of commerce nationwide. It will also be available via the Korea Chamber of Commerce and Industry's email and KakaoTalk services.

The May issue explains the background and concept of ESG as the main topics to provide a basic understanding of ESG. The Korea Chamber of Commerce and Industry defines ESG as "three core elements to achieve sustainability in corporate management" and explains the demand for sustainable development that simultaneously pursues environmental protection and development amid intensifying climate change as the background for its emergence.

The May issue includes ESG-related policies and trends in the financial sector. It covers the 2050 carbon neutrality policies announced in the first half of the year by the Ministry of Trade, Industry and Energy and the Ministry of Environment, as well as the Financial Services Commission's mandatory disclosure of ESG information. It also includes trends in the financial sector expanding ESG-related financial products.

The Korea Chamber of Commerce and Industry stated, "Although ESG has become an important issue in corporate management, there is a significant lack of systematic information necessary for companies to understand and implement ESG," adding, "We plan to select the information companies need to know and prepare it in an easy-to-understand manner."