Samsung Electronics Launches 'Sustainable Management Committee' to Strengthen ESG Management

[Image source=Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] Samsung Electronics announced on the 29th that it will launch a 'Sustainability Management Committee' within its board of directors.

On the same day, Samsung Electronics held a board meeting and resolved to reorganize the Governance Committee within the board into the Sustainability Management Committee to strengthen the role and responsibility of the board regarding sustainability management. The Sustainability Management Committee will discuss ESG (Environmental, Social, and Governance) related sustainability management areas in addition to the roles previously performed by the Governance Committee, such as fulfilling corporate social responsibility and enhancing shareholder value.

The Sustainability Management Committee will be composed entirely of outside directors to ensure the independence of the committee's operations. A Samsung Electronics official explained, "The Sustainability Management Committee will strengthen roles such as presenting the company's sustainability management direction and checking implementation performance," adding, "This reorganization establishes a company-wide sustainability management promotion system from business divisions to the board of directors."

Previously, Samsung Electronics established Sustainability Management Offices in major business divisions and upgraded the Sustainability Management Promotion Center to report directly to the CEO, thereby strengthening the dedicated organizational system.

Samsung Electronics explained that each business division is actively promoting activities to create a sustainable world through its products and services. The Mobile (IM) division is participating in resource circulation with consumers through 'Galaxy Upcycling,' which gives new value to used Galaxy smartphones by repurposing them for other uses, and the Consumer Electronics (CE) division is engaging consumers in resource circulation through 'Eco Package,' which allows consumers to create household items using appliance packaging.

The Semiconductor (DS) division's Hwaseong plant received certification as a 'Water Usage Reduction Plant,' and all semiconductor plants domestically and internationally achieved certification as 'Zero Waste to Landfill' plants. Additionally, Samsung Electronics' efforts for employees, partners, customers, and communities, including COVID-19 response efforts and partner support programs, can be found in the sustainability management report published last month.

Samsung Electronics stated that it will continue to systematically promote sustainability management and strive to communicate its direction and performance with stakeholders.