KCCI Hosts ESG Forum Concurrently with World-Renowned 'Nature' Journal

World's Leading Academic Journal Nature and First ESG Collaboration
Opportunity to Showcase Korea's ESG Achievements Abroad

Seoul Jung-gu Korea Chamber of Commerce and Industry. / Photo by Jinhyung Kang aymsdream@

[Asia Economy Reporter Donghoon Jeong] The Korea Chamber of Commerce and Industry, the International ESG (Environment, Social, Governance) Association, and Korea University ESG Research Center jointly hosted the '2022 Global ESG Forum' on the 29th at the Chamber of Commerce building, sponsored by LG.

On this day, Yoon Cheol-min, Head of ESG Management Office at the Korea Chamber of Commerce and Industry, emphasized, "The Global ESG Forum that started today is significant in that it is held simultaneously with Nature, the world's most prestigious academic journal, and the ESG Forum," adding, "It is an opportunity to widely promote Korea's ESG research achievements and domestic companies' ESG management practices overseas."

The Nature Forum, scheduled for the second day of the event, will focus on 'The E (Environment) in ESG and Sustainable Business,' featuring key speakers such as Todd Cort, Professor at Yale University, USA; Amy Myers Jeff, President of the American Energy Economics Association; Lee Seung-hwan, Head of LG Corporation's ESG Team; and Lee Jae-hyuk, Co-Chairman of the International ESG Association.

This forum attracts a large-scale audience of over 1,000 participants from 55 countries, including around 100 global scholars and experts with high interest in ESG, as well as businesspeople.

Ok Yong-sik, Professor at Korea University and Co-Chair of the Global ESG Forum, stated in his opening remarks, "Korean companies should move beyond a passive stance of simply complying with existing ESG rules and take a more proactive role in establishing new ESG-related regulations," adding, "The Global ESG Forum will build a global knowledge network composed of global ESG scholars and practitioners, providing a foundation of collective intelligence on the present and future of ESG management that Korean companies need in the ESG era."

In the subsequent welcoming address, Woo Tae-hee, Executive Vice President of the Korea Chamber of Commerce and Industry, said, "Despite various critical views on ESG, it is clear that ESG is 'the path our companies must take,'" advising, "Our companies should not regard solving social issues such as climate and environment simply as 'costs' or 'burdens' but rather utilize them as new business opportunities for developing new technologies and entering new industries."

Lee Bang-su, President of LG Energy Solution, also delivered a congratulatory speech, stating, "Efforts to make the environment, society, and economic ecosystem sustainable are no longer optional but essential, and the role of companies is increasingly emphasized in this process," adding, "ESG management is a means to enhance corporate resilience, build positive relationships with stakeholders, and turn crises into opportunities, driving innovation and challenges to create a sustainable future."

In the keynote speeches, former UN Secretary-General Ban Ki-moon was the first speaker, presenting on 'ESG and Sustainable Development.'

In his lecture, former Secretary-General Ban emphasized, "In this era of a civilizational great transition, the value of sustainable development must be further emphasized," and "Cooperation and practice should be strengthened based on global citizenship."

The second speaker, Park Joon-sung, Head of LG Corporation's ESG Team (Executive Vice President), presented on 'LG's ESG Management and Sustainable Future,' stating, "In LG's case, ESG does not undermine financial value but rather leads to maximizing corporate value," and "LG's ESG direction is a 'responsible business,' and our ultimate goal is a 'sustainable future.'"

The final keynote speaker, Professor Armer Amelzadeh of the University of Oxford, UK, presented on 'The Role of ESG in Capital Markets: Recent Developments and the Future.'

He analyzed, "In capital markets, ESG will evolve from 'risk management' to 'impact measurement,'" adding, "In the future, shareholder activism, positive screening, and integration of ESG factors within asset management processes will be more importantly considered by investors when utilizing ESG information."

This forum will be held over three days from August 29 to 31, covering 18 sessions including overall ESG, climate change and biodiversity, waste and plastics, carbon neutrality, energy, and the green hydrogen economy, and will be held concurrently with the Nature Forum on the 30th.

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