Shown above is the cover image of the “2021 KT&G Report,” which contains the ESG management performance of the company. Photo courtesy of KT&G

The 2021 KT&G Report contains ESG management performance

South Korea’s top tobacco manufacturer KT&G announced on Aug. 17 that it had published the 2021 KT&G Report that contains its ESG management performance for last year.

In this report, KT&G unveiled the ESG mid-to long-term vision of “Strengthening Future Growth Engines in 2025,” which was expanded and reorganized, including group companies.

To achieve the goal, the company reorganized six key areas and derived 18 strategic tasks in line with its internal guidelines.

In particular, KT&G raised its greenhouse gas reduction target in 2030 to a level consistent with the “1.5 degrees Celsius scenario, which was established to implement the Paris Climate Agreement.

Through this, the plan is to contribute to limiting the increase in the global average temperature to within 1.5 degrees Celsius.

Plus, KT&G disclosed in detail the progress rate compared to mid-to long-term goals and the improvement status compared to the previous year, along with “2021 ESG Performance Highlights.”

It summarized the ESG management performance by field in 2021.

KT&G said that it planned to continuously communicate with stakeholders on the mid-to long-term goal through the KT&G Report, which is published every year.

Short for Environmental, Social, and corporate Governance, ESG is the three central factors in measuring the sustainability of a corporation or business.

During the past few years, the initiative has won the hearts and minds of businesspeople as an essential managerial value locally and globally.

“We will clearly recognize that business strategies built on the ESG basis are essential factors for corporate value and long-term corporate growth and will more actively manage risks and opportunities related to sustainability,” said Bang Kyung-man, head of KT&G’s general division.

KT&G is headed by CEO Baek Bok-in.

The publisher studied Korean history in Seoul and management of business administration in the United Kingdom. He has 20-year experiences in the media business. Kim can be reached at voc200@gmail.com or 82-2-6956-6698.