Lotte Confectionery Declares 'Sweet ESG Management'

Min Young-ki, CEO of Lotte Confectionery (center), is declaring the 'Sweet ESG' management initiative with employees. (Photo by Lotte Confectionery)

[Asia Economy Reporter Seungjin Lee] Lotte Confectionery announced its 'Sweet ESG Management' on the 21st to practice ESG (Environment, Social, Governance) management.

Lotte Confectionery established detailed action plans under separate slogans for each area: Environment (Sweet ECO), Social (Sweet People), and Governance (Sweet Company).

In the environmental sector, under the slogan 'Sweet ECO,' the company declared a mid-to-long-term campaign actively participating in the introduction of eco-friendly technologies based on the 5RE (Reduce, Replace, Recycle, Redesign, Reuse), the use of renewable energy, and the transition to carbon neutrality.

The 'Sweet ECO 2025' project is a short-term goal to implement this more concretely, aiming to reduce plastic usage in product containers and trays by more than 25% by 2025, while realizing 'EV100' by converting all commercial vehicles to eco-friendly vehicles. Additionally, long-term environmental management goals and plans were established to reduce greenhouse gas emissions by about 30% by 2030, achieve carbon neutrality by 2040, and fulfill 'RE100' by sourcing 100% of electricity from renewable energy.

In the social sector, the slogan 'Sweet People' was adopted. Lotte Confectionery promised to continuously fulfill social responsibilities with empathy and coexistence by listening to the voices of not only customers but also partners, employees, and community members. The company plans to continuously expand social contribution campaigns such as 'Sweet Home,' 'Sweet School,' and the Dr. Xylitol Bus.

In the governance sector, under the slogan 'Sweet Company,' the company plans to become a model ESG company trusted by stakeholders and the public by establishing sound governance, complying with compliance, and transparently disclosing corporate information.

To strengthen the practice of ESG management, Lotte Confectionery recently established a dedicated ESG team and formed an ESG council composed of 12 executives, including the CEO. In the future, ESG-related items will be applied to employee performance evaluations, and plans to launch an ESG committee under the board of directors, including external experts, are under review.

CEO Myung-gi Min stated, “This declaration concretizes plans for ESG management activities and expresses our commitment to practice them,” adding, “We will strive to advance ESG activities with sincerity to achieve sustainable growth and become a global confectionery company.”

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