Lotte set to create new board committee in ESG push Chairman Shin Dong-bin emphasized ESG management during January leadership meeting
Translated by Ryu Ho-joung 공개 2021-07-01 08:13:38
이 기사는 2021년 07월 01일 08:11 thebell 에 표출된 기사입니다.
Lotte Corporation, the holding company of South Korea’s Lotte Group, is expected to create a new board committee that oversees environmental, social and governance (ESG) issues in an effort to integrate ESG into the conglomerate’s business operations.The move follows Lotte’s semi-annual leadership meeting in January where chairman Shin Dong-bin emphasized ESG management with a focus on changes “from an external perspective, not from a perspective within the organization”.
Shin made it clear that he wants effective results from ESG efforts beyond just carrying out social contribution activities. It was the first time that Shin officially mentioned the importance of ESG to his senior managers.
Lotte’s affiliates have stepped up efforts to establish their ESG strategy over the last six months. Lotte Chemical revamped its administrative division to put ESG at the center of its corporate strategy. Korea Seven, the operator of convenience store chain 7-Eleven, launched a task force and announced a detailed strategy.
Lotte’s focus on ESG aligns with trends across corporate Korea. Conglomerates including LG, Hanwha and Shinsegae established ESG committees at the board level to incorporate ESG principles into their corporate decision-making.
Lotte is expected to join them. “We are considering options including the launch of an ESG committee in the holding company's board of directors,” said a Lotte representative. The final decision is expected to be made as early as July.
Lotte Corporation currently has five board committees – audit, nominating, transparent management, executive and compensation committees. The transparent management committee assists the board in its oversight of matters related to intercompany transactions.
If Lotte Corporation forms an ESG committee, other affiliates are expected to follow suit. None of Lotte’s affiliates have an ESG committee at the moment. (Reporting by Eun-jin Choi)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
관련기사
best clicks
최신뉴스 in 전체기사
-
- [한화생명 글로벌 은행업 도전기]김승연 회장의 못다 이룬 꿈…30년 만의 결실
- [보험사 IFRS17 조기도입 명암]KB손보, 취약했던 자본항목 개선 주도한 평가이익
- [캐피탈사 글로벌 모니터]롯데캐피탈, 인도네시아 현지 영업도 보수적으로
- [2금융권 연체 리스크]우리카드, 고위험 자산 관리 '양호'…대환대출 증가 부담
- [은행권 신경쟁 체제]시중은행 전환 대구은행, 판 뒤흔들 한방은
- DGB캐피탈, 대손비 증가에 순익 급감…연체율 3%대로
- [외국계 보험사는 지금]'흑자전환' ABL생명, 올해는 새 주인 찾을까
- 대구은행, '대기업·가계 대출' 시중은행 전환 기반 삼는다
- IBK캐피탈, 감리시스템 개선 부실화 모니터링 강화
- 우리금융, 증권 M&A 자본부담 최소화…'보험 인수전' 의식했나