Gyeongnam Province to Increase Policy and Financial Support for Companies Participating in ESG Management

Recruitment of Participating Companies in April

On the 31st, Gyeongnam Province signed a business agreement for ESG support projects with eight organizations, including the Korea Productivity Center, NICE D&B, and the Gyeongnam Chamber of Commerce and Industry Council.

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Seryeong] On the 31st, Gyeongsangnam-do signed a business agreement for ESG support projects to expand Gyeongnam-type sustainable management this year with eight organizations including the Korea Productivity Center, NICE D&B, and the Gyeongnam Chamber of Commerce and Industry Council.

The signing ceremony was attended by Ha Byungpil, Acting Governor of Gyeongsangnam-do, Ahn Wanki, Chairman of the Korea Productivity Center, Koo Jacheon, Chairman of the Gyeongnam Chamber of Commerce and Industry Council, and representatives from NICE D&B, Small and Medium Business Corporation, BNK Gyeongnam Bank, Korea Credit Guarantee Fund, Gyeongnam Venture Investment, and Gyeongnam Technopark.

Gyeongsangnam-do started a sustainable management support project last year to raise awareness and response capabilities for ESG management among local companies.

It was reported that they developed the nation’s first standardized ESG evaluation model specialized for manufacturing and conducted evaluation diagnostics on 42 mid-sized and small companies in the province.

ESG management, which pursues carbon reduction, social contribution, and transparent governance mainly in advanced countries, is becoming a new management trend and is expected to be applied as a means of export and trade regulation in the global market.

This year, the province plans to add policy and financial support for environmental facility improvement and workplace safety enhancement along with consulting on environment, society, and governance.

From April, they will begin recruiting participating companies and conduct document screening and on-site inspections.

Ha Byungpil, Acting Governor of Gyeongsangnam-do, said, “This agreement will further increase companies’ interest and participation in sustainable management,” adding, “We will strive to enhance the competitiveness of local companies through the Gyeongnam-type ESG management consulting project.”

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