Gyeonggi Housing and Urban Corporation Accelerates ESG Management Efforts

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Housing and Urban Corporation (GH) is actively strengthening its ESG management. ESG refers to the environmental, social, and governance factors that measure the sustainability and social impact of a company or investment in a company.

On the 3rd, GH held an ESG Management Committee meeting and approved the ESG management promotion plan for this year. On the 6th, it announced that it conducted in-depth discussions and consultations on three key discussion topics selected from a total of 62 ESG innovation tasks established by each department.

Based on the committee's results, GH plans to continuously monitor and evaluate the implementation performance of ESG innovation tasks and strengthen the ESG management strategy system of "Eco-friendly, Coexistence, Transparent and Fair," which was established last year.

GH previously introduced the labor director system in August 2019, contributing to the establishment of the system by guaranteeing the activity time of labor directors.

In particular, GH plans to revise related regulations in May to allow labor directors, for the first time in Gyeonggi Province, to exercise voting rights not only at the board of directors but also at the management meeting, which is an internal management decision-making body.

Last month, GH held the regular general meeting of the "Gyeonggi Province Public Institution Labor Directors Council" and is making leading efforts to spread GH's excellent ESG management cases to public institutions in the province.

Furthermore, to secure the driving force for ESG management innovation execution, GH formed the "ESG Management Innovation Lab" last month and will operate it for three months. The Innovation Lab aims to discover innovative ideas and intensively advance innovation tasks in a short period by combining the "OKR goal management" method, which was first introduced by a local public enterprise last year.

OKR refers to a system that concretizes strategy into objectives and induces performance creation by evaluating and providing feedback based on step-by-step deliverables (Key Results).

Jeon Hyung-su, Acting President (Vice President) of GH, emphasized, "We will actively implement the 2022 GH ESG management promotion plan to create a management culture that earns greater trust from the residents."

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