Gwangju City Promotes Support Project for Activating ESG Management

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Gwangju Metropolitan City announced on the 9th that it will promote the ‘ESG Management Activation Support Project’ to create a sustainable corporate management environment for local companies.

‘ESG management’ refers to managing non-financial performance aspects such as Environment, Social, and Governance. Its purpose is to contribute to strengthening corporate competitiveness and sustainable development.

Recently, social demands and expectations for corporate ESG management have been increasing, including strengthened ESG regulations, corporate evaluation and investment criteria, supply chain due diligence, and disclosure obligations, and the impact on companies is gradually expanding.

Last year, the city established the nation’s first ordinance supporting ESG management to lay the foundation for supporting corporate ESG management, and selected the Gwangju Chamber of Commerce and Industry as the project implementing agency through a public contest to promptly respond to the changing environment and support corporate ESG management.

This year, starting with a briefing session to raise awareness of ESG management in early April, the city plans to provide customized online and offline ESG management education tailored to corporate demand, provide ESG-related trends and policy materials, and support management diagnosis and consulting.

Detailed project information will be announced later on the Gwangju Chamber of Commerce and Industry website.

Son Hanghwan, Director of Corporate Development at the city, said, “Local small and medium-sized enterprises lack the capacity to respond on their own,” and added, “We will strive to support local companies facing difficulties due to lack of ESG-related information and personnel.”