BGF Retail Publishes Sustainability Management Report... "Practicing ESG Management"

Introduction of Dual Materiality Assessment

BGF Retail announced on the 4th that it has published its sixth sustainability management report, "Good Friends of the Earth and Society."

Sustainable Management Report 'Good Friends of the Earth and Society'.
[Photo by BGF Retail]

Since introducing the industry's first sustainability management report in 2018, which included ESG (Environmental, Social, and Governance) management performance and vision, BGF Retail has consistently published the report annually.

This report introduces a double materiality assessment aligned with strengthened global standards such as the Global Reporting Initiative (GRI) criteria and the European Sustainability Reporting Standards (ESRS). This analytical approach evaluates the bidirectional impact between a company's social and environmental effects and how sustainability management issues affect the company. The selected key issues are presented from three perspectives: environment, shared growth, and labor & human rights.

Last year, energy-saving fixtures were continuously introduced in CU stores, and the environmental friendliness of product packaging was steadily improved. Additionally, through the nation's largest store network, BGF Retail has strengthened its role as public infrastructure protecting community safety by expanding programs such as ‘iCU,’ which prevents missing and abuse cases of children and elderly dementia patients, and the operation of automated external defibrillators (AEDs).

Since 2021, BGF Group has operated an ESG Management Committee composed of key executives including the CEO, heads of practical departments, and external experts to establish ESG governance. Last year, the company established a dedicated ESG department to further strengthen systematic ESG management efforts.

Lee Geon-jun, CEO of BGF Retail, stated, “We are striving for ESG management that all stakeholders, including customers, franchise owners, employees, and investors, can empathize with to create a sustainable corporate ecosystem,” adding, “We will carry out sustainability management activities that meet global standards through sincere ESG management.”

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