"KT&G Reflects ESG Management Performance in '2021 KT&G Report'"

[Asia Economy Reporter Eunmo Koo] KT&G announced on the 17th that it has published the ‘2021 KT&G Report’ detailing its ESG (Environmental, Social, and Governance) management performance.

In this report, KT&G revealed its expanded and reorganized ESG mid-to-long-term vision titled ‘Strengthening Future Growth Engines by 2025,’ which includes its group companies. To achieve this, KT&G restructured six key focus areas and derived 18 strategic tasks under the directions of ‘Strengthening Business Growth Momentum’ and ‘Implementing Group-wide Global Standards.’

Notably, KT&G raised its 2030 greenhouse gas reduction target to a level aligned with the ‘1.5℃ Scenario’ of the SBTi (Science Based Targets initiative), established to implement the Paris Climate Agreement. Through this, KT&G plans to contribute to limiting the global average temperature rise to within 1.5℃. Additionally, KT&G enhanced the reliability and objectivity of its data by obtaining third-party verification for greenhouse gas emissions (Scope 3) covering its overseas manufacturing sites and entire supply chain.

Furthermore, KT&G provided a detailed disclosure of the progress rate against mid-to-long-term goals and year-on-year improvements for each task, along with the ‘2021 ESG Performance Highlights’ summarizing ESG management achievements by sector from the previous year. KT&G plans to continuously communicate the progress of mid-to-long-term goal implementation with stakeholders through the annually published KT&G Report.

The separately compiled social contribution activity report, ‘KT&G S-Report,’ includes various CSR activity outcomes based on the social contribution value system composed of ‘Hope,’ ‘Creativity,’ and ‘Coexistence.’ Through this ‘KT&G S-Report,’ KT&G unveiled its new social contribution value system of ‘People, Community, Planet’ and plans to promote a higher level of social responsibility activities encompassing people, society, and the environment.

Kyungman Bang, KT&G’s Chief Division Officer, stated, “We clearly recognize that business strategies built on an ESG foundation are indispensable elements for enhancing corporate value and long-term corporate growth, and we will actively manage risks and opportunities linked to sustainability.”