"US-ROK Summit Emphasizes 'Security Dimension' Response to Supply Chain and Climate Crisis"
[Asia Economy Reporter Moon Chaeseok] The American Chamber of Commerce in Korea (AMCHAM) announced on the morning of the 9th that it held the '2022 AMCHAM Sustainability Seminar' at the Conrad Hotel in Yeouido, Seoul. Representatives from global certification company UL, General Electric (GE), Kyobo Life Insurance, as well as officials from the Korean and U.S. governments and academia attended to discuss ESG (Environmental, Social, and Governance) management.
James Kim, Chairman and CEO of AMCHAM, said in his opening remarks, "Recently, Presidents Yoon Suk-yeol and Biden emphasized the importance of responding to the climate crisis in the context of building a sustainable global supply chain and global energy security through the Korea-U.S. summit." He added, "Given the reality that public interest and scrutiny inevitably focus on companies' ESG efforts, it is time for business leaders to seek concrete measures to implement ESG policies."
Ban Ki-moon, Chairperson of the Global Green Growth Institute (GGGI) and former Secretary-General of the United Nations (UN), said in his congratulatory speech, "It is very encouraging that 'ESG' has emerged as a core focus area and that companies are dedicating themselves to net-zero (carbon neutrality)." He continued, "This is the moment when ESG initiatives are being reflected in corporate investment and management strategies." He added, "I believe that foreign-invested companies in Korea will greatly contribute to making Korea a stronger country and advancing the region and the world toward a more sustainable and prosperous future."
Kim Beop-jeong, Director of the Climate and Carbon Policy Office at the Ministry of Environment, stated, "We will continue to expand support so that companies striving for eco-friendly management can receive more investment and have their achievements recognized."
The presenters shared their companies' achievements, emphasizing their efforts toward practical ESG management. Carlos Correa, President of UL, said, "UL has been enhancing safety for over a century and has focused on how companies apply 'safety science.' Through this seminar, we plan to lead meaningful sustainability development together with AMCHAM and support companies in achieving their ESG goals." Huh Geum-ju, Executive Director of Kyobo Life Insurance, presented on "Kyobo Life Insurance’s People-Centered Stakeholder Management for Achieving ESG and Sustainability," and Lee Jun-yong, Foreign Attorney at Kim & Chang Law Firm, spoke on "Legal Issues of ESG and Corporate Response Strategies."
Kim Dong-won, General Manager of External Cooperation at GE Korea, introduced that GE has regarded 'sustainability' as a core value throughout its 130 years of management. He explained that GE is committed to solving humanity’s challenges with sustainability in mind across the aviation, energy, and healthcare sectors. Kim said, "GE focuses on developing and providing technologies for a reliable, economical, and sustainable energy future and safe, efficient aviation." He added, "In 2020, GE announced its goal and strategy to achieve carbon neutrality in facilities and operations by 2030, and last year, it declared its goal to achieve carbon neutrality in Scope 3 emissions (carbon emissions from sold products) by 2050." He emphasized, "Integrity culture is at the heart of everything GE does, and all employees are informed about and uphold environmental, social, and governance (ESG) issues in their decision-making processes."
As a special session, Shin Nang-hyun, Commissioner of the Gyeonggi Free Economic Zone Authority, gave a presentation on the sustainable district of the Gyeonggi Free Economic Zone.
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