Lotte Shopping Publishes First Sustainability Management Report... Concrete Steps Toward ESG Management

[Asia Economy Reporter Jeon Jinyoung] Lotte Shopping announced on the 6th the release of its ‘2021 Sustainability Management Report’ and will actively engage in communication with stakeholders including customers and shareholders.

According to Lotte Shopping, this report includes the ESG (Environmental, Social, Governance) management slogan declared by Lotte Shopping in November 2021, ‘Dream Together for Better Earth (Dasi Jigureul Saeropge, Hamkke Deo Nareun Jigureul Wihae)’, under which Lotte Shopping defines its ESG-related tasks, recent achievements, future plans, and newly developed ESG policies.

Lotte Shopping developed an integrated ESG campaign brand called ‘RE:EARTH’ and specifically set five key tasks: ‘RE:EARTH’, ‘RE:NERGY’, ‘RE:USE’, ‘RE:JOICE’, and ‘RE:VIVE’. These were created to ensure that ESG activities are connected to the company’s core competitiveness and sustainability. The report contains the current status and expansion plans of various ESG activities such as the development of eco-friendly products and dedicated spaces, introduction of eco-friendly energy, resource circulation, inclusion of diverse social groups, and win-win cooperation with partner companies.

Additionally, Lotte Shopping selected three major issues for ESG management through materiality assessment: ‘Management and reduction of greenhouse gas emissions’, ‘Establishment of a sustainable supply chain’, and ‘Human rights-centered management’, and included efforts to achieve results related to these issues. According to the report, Lotte Shopping’s greenhouse gas emissions in 2021 decreased by 12.5% compared to 2018. Lotte Shopping operates 87 solar power plants, producing 6.1 gigawatts (GW) of electricity, achieving a reduction effect of 2,802 tons of greenhouse gases. The report declares carbon neutrality by 2040 and plans to establish annual carbon reduction targets and detailed implementation plans this year.

Lastly, ‘Human rights-centered management’ was selected as a key issue. Based on the Universal Declaration of Human Rights, UN Guiding Principles on Business and Human Rights, UNGC, and OECD Guidelines for Multinational Enterprises, Lotte Shopping established the ‘Lotte Shopping Human Rights Management Policy’ and will make various efforts to uphold the values of non-discrimination and respect for diversity.

Kim Sanghyun, Vice Chairman and CEO of Lotte Shopping, stated, “As stakeholders’ demands for the company’s sustainability increase, ESG management has become a necessity rather than a choice,” and added, “We will continue sincere communication to create a better earth and a happy future for our customers.”

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