Samil PwC: "Systematic Preparation Needed for Sustainability Disclosure"

Seminar Held

As the sustainability disclosure system is being further developed, including through amendments to the Capital Markets Act, experts are emphasizing that a systematic approach is required to improve the quality of disclosures, starting from the basic interpretation of standards to assurance procedures.

Samil PricewaterhouseCoopers announced that it held the seminar titled "Mandatory Sustainability Disclosure Era, Practical Response Strategies" at the Nine Tree Premier Lokaus Hotel in Yongsan, Seoul, on the 12th. In his opening remarks, Hong Junki, Head of Audit at Samil PricewaterhouseCoopers, stated, "Sustainability disclosure is no longer about whether or not to disclose, but rather the core task is how to secure the quality and reliability of disclosures." He added, "Because the entire process—from interpreting standards, data management, internal verification, to external assurance—is organically connected, more systematic preparation is necessary."

As a special guest speaker, Lee Woonghee, Standing Member of the Korea Sustainability Standards Board (KSSB), explained the background of the development of domestic disclosure standards and discussed the direction of mandatory disclosure and future tasks of the Board.

In the first session, Park Jonghyun, Director at Samil PricewaterhouseCoopers, emphasized that self-assessment is the most crucial step in preparing for climate disclosure. Park said, "The starting point for climate disclosure is building a decision-making infrastructure for companies, and the key to preparation lies in establishing roles and responsibilities (R&R) for the main departments and setting up governance channels." In the second session, Partner Lee Jingyu explained the standards for financial impact disclosures and the process for calculating financial impact. Next, Partner Kim Doyeon highlighted, based on global disclosure cases, that climate-related risks and opportunities are core information in the financial impact analysis for financial companies. In the fourth session, Partner Park Kyungsang addressed practical issues related to calculating consolidated emissions and applying control-based criteria.

In the final session, Partner Yoon Youngchang introduced support for preparing environmental, social, and governance (ESG) reports and presented the greenhouse gas emissions management system "Carbon Monitor."

In his closing remarks, Steven Kang, Sustainability Platform Leader at Samil PricewaterhouseCoopers, stated, "If strategically utilized, sustainability disclosure can become an opportunity to enhance corporate value." He added, "Just as financial statements reflect a company's financial performance, sustainability disclosure is also a crucial means of communicating a company's direction, capabilities, and long-term value to the market and stakeholders. Therefore, companies should strategically prepare so that it provides real benefits to the organization."