Baek Young-jae, CEO of Korea Philip Morris, "The Core of ESG Management is a 'Smoke-Free Future'"

Presentation on ESG Management and Innovation at the '2021 Nature Conference'
'What Products Are Made' Also Plays an Important Social Role

Baek Young-jae, CEO of Korea Philip Morris, is giving a presentation on ESG management and innovation at the 2021 Nature Conference held on the 26th of last month.

[Asia Economy Reporter Lim Hye-seon] Baek Young-jae, CEO of Korea Philip Morris, emphasized, "The core of Philip Morris's Environmental, Social, and Governance (ESG) management essentially aligns with the company's vision of a 'smoke-free future.' Heated tobacco products are not merely an expansion of the product portfolio but are offered as an alternative that completely replaces conventional cigarettes."

On the 26th of last month, Baek Young-jae attended the '2021 Nature Conference' held at LG Science Park in Magok-dong, Seoul, where he introduced Philip Morris's innovation and ESG management strategies. The conference, themed "Waste Management and High Value-Added for a Sustainable Future," was attended by 1,500 participants from 100 countries worldwide both online and offline, including authoritative scholars from Korea University, LG Energy Solution, the International ESG Association, the Ministry of Science and ICT, as well as MIT, Cornell University, Cambridge University, Yale University, Stanford University, and Princeton University. Attendees shared the latest research findings on sustainability and the circular economy.

During the session, Baek Young-jae explained Philip Morris International's ESG strategy, stating, "Philip Morris has incorporated an 'ESG+P (Product)' structure into the company's sustainability strategy. Here, P signifies that the social impact of 'what the company makes' is as important as the impact of 'how it is made.'"

In the subsequent presentation, efforts toward the 'smoke-free future' vision declared by Philip Morris International were introduced, along with support measures for employee welfare and health, and updates on environmental campaigns.

A representative campaign recently conducted within Korea Philip Morris is the 'Green Tiger Campaign.' The Green Tiger Campaign is an eco-friendly initiative aimed at efficiently using all energy and water consumed at the Korea Philip Morris Yangsan factory. In June last year, the Yangsan factory installed a recycled water supply system on its cooling towers, reducing water consumption by approximately 8,000 tons annually. At the end of 2019, water-saving devices were installed on all faucets within the factory, saving 1,755 tons of water annually. Regarding carbon emission reduction, since 2019, energy management practices such as adjusting indoor factory temperatures and cutting off electricity and gas in unused areas have successfully reduced carbon emissions by 723 tons annually.

Additionally, ongoing nature conservation efforts and campaigns to raise environmental awareness among more people were introduced, including the 'Na-kkong-chi Campaign' and the 'Earth Ssudam Campaign' in collaboration with the Environmental Foundation. The Na-kkong-chi Campaign is an environmental protection activity where Korea Philip Morris and Jeju Olle pick up cigarette butts and litter year-round along the Olle trails, while the Earth Ssudam Campaign involves activities to reduce waste generation and collect waste together with the Environmental Foundation.

Baek Young-jae stated, "If companies, consumers, experts, and regulatory authorities all work together, a sustainable future can be realized."

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