LS Group Chairman Koo Ja-yeol has begun the ESG (Environmental, Social, and Governance) management in earnest. LS Group announced on Aug. 19 that it will establish an ESG committee that expanded and reorganized the functions of the existing internal transaction committee under the board of directors of LS Co., a holding company.
Ye Jong-seok, an outside director of LS and former chairman of Community Chest of Korea, was appointed as the chairman of the ESG Committee and decided to set up the committee consisting of a total of five people.
In addition to existing internal transaction committee activities such as pre-reviewing and deliberation of internal transactions, the new committee will establish directions and plans for ESG management strategies, and report policy approval, major promotional activities, and achievements.
Prior to the launch of the committee, LS has been continuously preparing LS's specialized ESG direction and system by conducting ESG diagnosis projects for major affiliates for about six months.
Through this, LS plans to establish and implement a strategy based on the perception that ESG is not just for risk management, but for LS's differentiated business opportunity in preparation for the 'Electric Age' due to eco-friendly issues.
An LS group official said, "The advent of an era of 'energy great change' triggered by the global trend of ESG and the current government's Green New Deal policy will be a great opportunity for LS, which has long-standing businesses in power infrastructure and comprehensive energy solutions."