To Accelerate Shift to ESG Management
GS Group has established a consultative body on eco-friendly management to practice environmental, social, and governance (ESG) management in earnest.
The new organization consists of the chief green officers (CGOs) of each affiliate. An inaugural meeting was held with the attendance of GS chairman Heo Tae-soo on Feb. 24.
The new committee will serve as the group’s top decision-making body on ESG management and eco-friendly projects. It is chaired by GS Holding Corp. president Hong Soon-ki. CGOs of GS affiliates will gather every month to discuss pending issues with Hong. In addition, chairman Heo and other CEOs will attend quarterly meetings.
The committee will be three divisions -– the ESG Division, the Safety, Health and Environment Division and the Eco-friendly New Business Division. The ESG Division will make eco-friendly policies through coordination among affiliates in ESG management, social contribution, shared growth, and sustainable management.
GS Group plans to expand eco-friendly businesses in cooperation with biotechnology ventures. For this, it launched the GS Challenge, a program to discover and foster biotechnology startups, on Jan. 22. It will run until March 7.
In addition, the group set up GS Futures, a venture investment firm, in Silicon Valley in 2020 to look for new business and investment opportunities that can create synergies with the group’s businesses in the digital and eco-friendly energy sectors.