More Than Half of Large Corporations Say "ESG Disclosure Obligations Appropriate After 2028"

Joint Survey by Economic Organizations
"Short-term preparation is not easy, sufficient time is needed"

More than half of large corporations believe that 2028 or later is the appropriate time to mandate ESG (Environmental, Social, and Governance) disclosures, according to a recent survey.

The Korea Chamber of Commerce and Industry, the Federation of Korean Industries, the Korea Employers Federation, and the Korea Listed Companies Association announced on the 16th that this result came from a survey of 125 listed companies with assets exceeding 2 trillion won regarding the ESG disclosure system.

Photo by Jinhyung Kang aymsdream@

Regarding the timing for mandatory ESG disclosures, 58.4% of the responding companies said that 2028 or later is desirable. Specifically, 19.2% chose 2028, 13.6% chose 2029, and 25.6% chose 2030.

From 2026, ESG disclosures related to the climate sector will become mandatory for domestic listed companies.

The preferred direction for mandatory ESG disclosures among companies was exchange disclosure (38.4%), followed by disclosure on the exchange with a grace period before transitioning to disclosure within business reports (29.6%), and voluntary disclosure (25.6%).

Additionally, more than half of the respondents (56.0%) opposed disclosing 'Scope 3' carbon emissions, which include all indirect emissions occurring throughout the value chain, including suppliers.

Responses indicating the need for a grace period accounted for 40%, while only a small minority (1.6%) supported the disclosure.

Most companies also opposed the plan to include subsidiaries on a consolidated basis in disclosures simultaneously with mandatory ESG disclosure.

Specifically, the opinion that a grace period is necessary was the most common at 59.2%, and 33.6% opposed including subsidiaries in the disclosure scope itself.

Jo Young-jun, Director of the Sustainability Management Institute at the Korea Chamber of Commerce and Industry, said, "Considering that accounting disclosures have been established over decades through trial and error, it is not easy for companies to prepare for ESG disclosures, which require more indicators, in a short period."

He added, "It is necessary to refer to overseas cases and provide sufficient preparation time while easing disclosure items that impose burdens on companies."