Discovering and Promoting Outstanding Companies and Institutions Contributing to Rural Environment, Social, and Transparent Management (ESG) Activities
The Foundation for Cooperation between Large, Small and Medium Enterprises and Agriculture, Fisheries and Livestock (Cooperation Foundation) announced on the 19th that it will implement the '2024 Rural ESG Practice Recognition Program (Practice Recognition Program)' in collaboration with the Ministry of Agriculture, Food and Rural Affairs and the Ministry of Oceans and Fisheries to recognize and promote outstanding companies and institutions contributing to ESG activities in rural and fishing villages.
The Cooperation Foundation has been implementing the Practice Recognition Program since 2022 as part of efforts to revitalize the Rural Coexistence Cooperation Fund. Riding the recent trend of expanding ESG management, from this year, the Ministry of Agriculture, Food and Rural Affairs, the Ministry of Oceans and Fisheries, and the Cooperation Foundation will jointly promote the program to overcome the crisis of rural depopulation. To ensure objective ESG evaluation, the evaluation indicators have been improved, and the scope of participation has been expanded to include all companies, institutions, and organizations engaged in ESG-related activities, such as rural social contribution certified companies, beyond those contributing to the Rural Coexistence Cooperation Fund.
The Rural ESG Practice Recognition will evaluate companies, institutions, and organizations on their rural coexistence cooperation and ESG activities based on a total of 33 indicators across three categories: Environment, Social, and Governance, along with additional scoring items. Companies scoring 80 points or higher out of 110 will be selected as final recipients.
Selected companies will receive a certificate of recognition and various benefits such as government awards (including commendations from the ministers of Agriculture, Food and Rural Affairs, Oceans and Fisheries, and Industry), preferential treatment in the Win-Win Growth Index evaluation, rural ESG consulting, and promotion of best practices.
Companies, institutions, and organizations wishing to participate in the Rural ESG Practice Recognition Program should submit their application forms to the Cooperation Foundation by the 13th of next month. Further details can be found in the notices section of the Rural Coexistence Cooperation Fund website.
Kim Young-hwan, Secretary General of the Cooperation Foundation, stated, "Environment, Social, and Governance (ESG) are becoming increasingly important for sustainable corporate management," adding, "We hope for much interest and participation so that corporate ESG activities can spread to rural areas."
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