Seoul City to Host 'Public-Private Cooperation Linking Corporate ESG' Forum on 25th

Expanding Ethical Consumption Considering Environmental and Social Issues... Discussing Public-Private Cooperation Linked to Corporate ESG Investment

[Asia Economy Reporter Lim Cheol-young] Seoul City announced on the 24th that it will hold an online forum on the 25th to explore public-private cooperation plans linked to Environmental, Social, and Governance (ESG) in line with the management environment emphasizing corporate social responsibility, as environmental and climate issues become more serious.

ESG management is becoming a key indicator for evaluating sustainability for domestic companies as well. Until now, companies have prioritized maximizing shareholder profits as their highest value, but now management that considers stakeholders, such as protecting the environment and practicing social responsibility, is becoming essential. This forum will be an opportunity to share concrete ideas on the direction and preparation process for public-private cooperation to integrate corporate ESG management and social contribution.

The forum presentations will be divided into three areas under the theme "What is ESG and why is it an issue?": ▲Investor perspective ▲Corporate Social Responsibility (CSR) perspective ▲Proposals for setting directions linking ESG and CSR.

The presentations will begin with Lee Soo-won, Head of Responsible Investment Team at the Korea Corporate Governance Service, discussing from the investor perspective. He will introduce cases of so-called "good companies" that recognize the consumption trends of the millennial generation (MZ), a recently emerging major consumer group, and sustainability as new business opportunities, thereby increasing ESG investments.

In addition, not only are companies increasing responsible investments themselves, but small shareholders (shareholder activism) and institutional investors (stewardship code) are actively involved not only in the governance of companies they invest in but also in corporate activities related to social and environmental fields. Actual cases where such investor activities positively affect corporate value will be presented, highlighting the need for changes in domestic companies.

Yoo Seung-kwon, Director at Inno Social Lab, who has over 20 years of experience handling CSR tasks at companies such as E-Land, HanmiGlobal, and SPC Group, will share his views on what ESG is and why it is an issue from the CSR perspective of companies. Since 2010, South Korea has planned to expand corporate ESG reporting from voluntary to mandatory disclosure through initiatives such as the Green New Deal declaration, the National Pension Service's plan to evaluate 50% ESG, and improvements to the Korean disclosure system. Companies that do not prepare for environmental and social issues and risks will find it difficult to receive investments. He will present key issues by sector, principles for implementation, and response processes that companies can execute.

Kim Hong-tak, Chief Privacy Officer (CPO) at Social Workshop, will present on "Setting directions linking ESG and CSR from a creative perspective," including overseas cases. In the subsequent comprehensive discussion, participants will properly understand the definition of ESG in each area and share opinions on expanding public-private cooperation activation from the CSR perspective.

Min Soo-hong, Social Innovation Officer, said, "Eco-friendly investment, protection of human rights and socially vulnerable groups, fair and ethical management, and compliance are directly connected to sustainable corporate management activities and are important factors in the consumption decisions of future generations. Seoul City will continuously discuss social contribution plans linking public resources and corporate ESG management and create concrete successful cases."

This content was produced with the assistance of AI translation services.