Win-Win Growth Committee-LG Chem Signs Agreement for 'Partner ESG Support Project'
Comprehensive ESG Support for Partners Including Education, Capability Assessment, and Consulting
[Asia Economy Reporter Kim Heeyoon] The Win-Win Growth Committee (Chairman Kwon Ki-hong) and LG Chem (CEO Shin Hak-cheol) announced on the 24th that they have signed a 'Cooperation Agreement for ESG Support Projects for Partner Companies.' Considering the COVID-19 situation, the agreement was conducted in writing.
LG Chem will contribute a total of 100 million KRW from the Win-Win Cooperation Fund to the '2021 Partner Company ESG Support Project' promoted by the Win-Win Growth Committee to enhance the ESG response capabilities of partner small and medium-sized enterprises (SMEs).
The Win-Win Growth Committee will comprehensively support the development of customized ESG evaluation indicators by industry and company, ESG education and capability diagnosis, on-site inspections (consulting), and evaluations.
Since 2018, LG Chem has supported partner companies' wages and welfare for three years through an agreement with the Win-Win Growth Committee on 'Innovation-driven Wage Gap Resolution.' Through this new agreement, support will also be provided to enhance the ESG response capabilities of partner companies lacking budget and manpower.
The Win-Win Cooperation Fund contributed to support ESG for partner SMEs is eligible for tax benefits such as corporate tax deductions and recognition as designated donations. The Win-Win Growth Committee plans to gradually reflect the ESG support performance of partner companies in the Win-Win Growth Index.
Partner SMEs with excellent compliance rates for ESG evaluation indicators will be issued an 'ESG Excellent SME Certificate' under the name of the Win-Win Growth Committee. Partner SMEs receiving the certificate will be provided with loan incentives from the ESG Fund newly established by LG Chem to strengthen ESG areas.
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Kwon Ki-hong, Chairman of the Win-Win Growth Committee, said, "Mutual cooperation between large corporations and partner SMEs is essential in ESG management, which is a key issue of our time," and added, "We expect that this support project through the agreement will be a great help to partner SMEs who have been frustrated due to lack of capacity despite the expanding trend of ESG management."
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