Hyundai Motor Company has been commended by the International ESG Association (IESGA) for its sustainability performance and climate change strategy, which will see the company become carbon neutral by 2045 across all stages, including parts procurement, production, and vehicle operation. “IESGA worked with Korea University’s ESG Research Center to identify the best-performing global company in Korea, and our screening process found that Hyundai Motors operated better than the other competitors,” says co-presidents of the IESGA, Jay Hyuk Rhee and Yong Sik Ok, who are also full professors at Korea University in Seoul, South Korea. Rhee and Ok say the

As companies become more compelled to address and disclose their social and environmental impacts, it is increasingly important to incorporate environmental, social and governance (ESG) considerations in their strategic decision-making and day-to-day operations. Increasingly, investors are choosing to invest in ethical and transparent companies, and workers are seeking to join companies that have values which are more closely aligned with their own. A lack of consideration for ESG issues can negatively impact a company’s reputation and bottom line, as well as its ability to attract and retain quality employees. Based in Seoul, South Korea, LG Energy Solution (LGES) aims

In recent years, many ESG rating agencies have been established worldwide to guide investors as to where their money is best spent. They use environment-, social-, and governance-related indicators to measure a company’s sustainability. “It is no longer enough for investors to see that a company is making big money,” explains Jay Hyuk Rhee, professor of business administration at Korea University in Seoul. Consumers are looking for environmentally conscious companies, while robust governance structures are necessary for their future sustainability. But the ESG rating landscape can be confusing. Agencies use a variety of evaluation methods and emphasize different indicators,

Environmental, social and governance (ESG) considerations play increasingly crucial roles in a company’s prospects and viability.Key stakeholders, including consumers and investors, regulators, and non-government organizations, are demanding that companies incorporate ESG factors into nearly every aspect of their business strategy and operations, from procurement and manufacturing through to product development and hiring.South Korea’s LG Electronics (LGE), a global leader in information technology with about 30 production sites worldwide, has recognized that for ESG management to be effective it needs to be integrated into a company’s day-to-day operations.“Changes in the social perception of the impact of companies have led to the

In March 2020, Jay Hyuk Rhee was speaking at a Korea University seminar about environment, social and governance (ESG) business practices. After his talk he was approached by Yong Sik Ok, whose background is quite different to his. Rhee is a professor at Korea University’s School of Business Administration and the director of the university’s ESG Research Center. Ok is a professor at the university’s Division of Environmental Science and Ecological Engineering and the first South Korean to be simultaneously designated as a Highly Cited Researcher in the fields of environment and ecology, and engineering. Ok said he was interested

“In terms of ESG management, South Korea was a late follower,” says Jay Hyuk Rhee, a professor at the school of business at Korea University in Seoul, “But, now — most, if not all, South Korean corporations take ESG management very seriously.”Environmental, social and governance (ESG) ratings are being increasingly taken into account, not only by people seeking to make socially conscious investment decisions, but also by consumers and prospective employees.ESG ratings provide information about a company’s sustainability status based on three categories: the environment, social issues, and governance. This includes factors such as climate policies, waste production, energy consumption,