Expansion of ESG Disclosure Items for Public Institutions... Safety Ratings Reflected in Management Evaluations

[Asia Economy Sejong=Reporter Son Seon-hee] Disclosure items related to Environment, Social, and Governance (ESG) for public institutions will be significantly expanded. In line with the enforcement of the Serious Accidents Punishment Act, safety rating evaluation results will be reflected in management evaluations starting this year.

According to the Ministry of Economy and Finance on the 6th, the revision of the integrated disclosure standards for public institutions was prepared after gathering opinions from public institutions and experts, and was approved by the Public Institution Management Committee on the 4th. It is scheduled to be distributed to all public institutions on the 7th.

The revision includes strengthening evaluations related to ethics, safety management, and board operation, as well as newly evaluating whether ESG is reflected in the establishment of management goals and strategies. Additionally, in accordance with the enforcement of the Serious Accidents Punishment Act on the 27th of last month, safety rating evaluation results will be reflected in the 'Disaster and Safety Management Indicators' within management evaluations starting this year.

A total of 11 new disclosure items have been added to the integrated disclosure targets, including safety and environment, social contribution activities, win-win cooperation, and work-family balance.

The Ministry of Economy and Finance stated, "Through this strengthening of ESG disclosure, we expect to promote ESG management in public institutions and further serve as a catalyst to lead private sector ESG management. We will continue to strive to ensure that information about public institutions desired by the public is disclosed more transparently and accurately through Alio."

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