ISSB Officials Invited to Host 'ESG Policy Seminar'

Hosted by the Ministry of Trade, Industry and Energy... Supported by the Korean Standards Association and the Korea Productivity Center

'ESG Policy Seminar' offline attendees are taking a commemorative photo after the seminar ended.

[Asia Economy Reporter Kim Cheol-hyun] The Korea Standards Association announced on the 14th that a seminar inviting officials from the International Sustainability Standards Board (ISSB) was held at its headquarters on the 8th. The seminar was hosted by the Ministry of Trade, Industry and Energy, organized by the G7 KOREA ESG Committee (hereinafter the Committee), and supported by the Korea Standards Association and the Korea Productivity Center.

The seminar proceeded with ISSB officials explaining the current status of the establishment of ISSB disclosure standards, followed by a panel discussion exchanging opinions on the ISSB disclosure standards with domestic ESG (Environmental, Social, and Governance) experts. The ISSB was established by the IFRS Foundation for ESG information disclosure standards and is expected to lead global ESG information disclosure in the future, significantly influencing our industrial sector.

ISSB officials participating online included Madi McBrien, Executive Director of the IFRS Foundation, and Lois Goslee, Senior Technical Advisor. Executive Director McBrien explained, "The ISSB disclosure standards aim to establish reporting on sustainability items that have a significant impact on corporate value creation," adding, "The general requirements of the ISSB are characterized by expanding the scope beyond climate-related content to include sustainability-related risks and opportunities."

He also introduced the ongoing public consultation process, future procedures, and the current status of ISSB member appointments. In the subsequent panel discussion, questions and answers on the ISSB disclosure standards continued, covering topics such as measures to increase corporate acceptance, country-specific adoption and approaches, whether to establish differentiated standards based on company size, and methods for verifying the reliability of disclosed content.

Kang Myung-soo, Chairman of the Standards Association, which sponsored the event, stated, "The establishment of ISSB disclosure standards is not an issue for individual companies but an agenda from the perspective of national industry, so the voices of our industrial sector must be reflected as much as possible in the global rule-setting process." He added, "The Korea Standards Association will continue activities that can help our industrial sector regarding ISSB disclosure standards together with the Ministry of Trade, Industry and Energy and the G7 KOREA ESG Committee."

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