SK C&C and Junggyeonryeon Collaborate to Develop ESG Management Support Services

[Asia Economy Reporter Kang Nahum] Small and medium-sized enterprises (SMEs) and mid-sized companies will have a new way to quickly adopt ESG (Environmental, Social, and Governance) management without building separate systems.

On the 25th, SK Inc. C&C signed a Memorandum of Understanding (MOU) with the Korea Federation of SMEs to develop an ‘ESG Management Strategy Support Service’ for domestic small and mid-sized enterprises. Under this agreement, the two organizations will jointly plan and support the implementation of the ‘ESG Management Strategy Support Service’ for the Federation’s 765 member companies.

SK C&C will first provide an exclusive ‘ESG Management Support Comprehensive Portal Service’ for the Federation’s member companies based on the ‘ESG Management Platform’ developed last June. The ‘ESG Management Platform,’ which incorporates SK Group’s ESG performance system know-how, is equipped with ESG performance indicators reflecting industry-specific characteristics and includes functions for diagnosing and managing ESG for not only individual companies but also supply chain partners.

Additionally, SK C&C will integrate a customized ESG service model tailored for SMEs and mid-sized companies into the ‘ESG Management Support Comprehensive Portal.’ The portal allows companies to manage all necessary elements for ESG management activities at once, including ▲ ESG level diagnosis ▲ ESG goal setting ▲ ESG improvement task management ▲ regular reports ▲ policy guides ▲ real-time ESG status dashboards, reflecting both the industry characteristics and the nature of the business.

In particular, the ‘ESG Management Support Comprehensive Portal’ provides measurement formulas that can quickly quantify ESG performance with specific figures across all industries such as manufacturing, distribution, telecommunications, IT, construction, and public enterprises. These formulas are created by applying 329 ESG measurement indicators and diagnostic logics specialized by industry, along with common indicators across all industries, tailored for SMEs and mid-sized companies.

In cooperation with Samjong KPMG, an ‘ESG Strategy Consulting Service’ exclusively for SMEs and mid-sized companies will also be offered. To continuously generate ESG performance suited to the management conditions of SMEs and mid-sized companies, support will be provided for ▲ developing new business models based on ESG ▲ benchmarking global companies ▲ establishing ESG-linked risk response strategies ▲ and setting up execution systems for ESG strategic tasks.

Lee Sang-guk, Head of ICT Digital Division at SK C&C, said, “We will support domestic SMEs and mid-sized companies to successfully adopt ESG management strategies together with the Federation. We will continue to collaborate with companies and institutions across various fields to advance the ‘ESG Management Platform’ and develop it into a global standard ESG management support platform.”