AEnvironmental, social and governance (ESG) investments and projects are gaining momentum around the world, with the two largest associations of in-house legal advisers in Korea – the Korean In-house Counsel Association (KICA) and the In -house Counsel Forum (IHCF) – have joined forces to host four webinars in September, which cover ESG regulations and litigation, as well as countermeasures for businesses.
âWhile CSR focuses on ethical and compliant corporate behavior, ESG initiatives focus more heavily on finding business opportunities to proactively improve company value, social contributions and business creation. ‘a sustainable governance structure,’ said Chae Jooyup, KICA vice president. Journal of business law in Asia.
âKorean companies are well aware that they cannot survive rapid environmental changes such as climate change and pandemics if they do not change proactively,â said Chae. âThis is why they have invested heavily in ESG in recent years. “
The webinar was opened on September 2 by Kim Min-seok, director of the Sustainability Research Institute, who provided an overview of the cause of important trends in ESG-related projects. Yoon Yong-hee, partner at Korean law firm Yulchon, followed with a presentation analyzing government policy related to ESG and some standards companies should follow.
During the second webinar on September 9, National Pension Service chief Lee Dong-seop, introduces the missions of the country’s public pension fund in ESG projects. Choi Min-yeon, CEO of asset management firm BlackRock Korea, spoke about sustainable investing from an investor’s perspective, while Choi Soo-bin, an attorney for the Korea Exchange, discussed disclosure related to ESGs.
On September 16, Seol Tong-keun, partner at Korean firm Lee & Ko, spoke about environmental risk management in ESG. Lee Yoon-jeong, Partner at Kim & Chang, discussed legal issues and litigation surrounding carbon neutrality, while colleague Oh Min-young introduced the topic of ESG-related energy transformation.
The latest webinar on September 23 kicked off with Lee Jun-hee, head of the ESG Center Strategy Group at Korean law firm Jipyong, who explored ESG management and compliance, while Kookmin University law professor from Seoul, Nam Yu-sun, discussed the current status of ESG in Korean financial companies. Finally, Kim Won-jin, lawyer at Yulchon, analyzed ESG litigation cases.