Hanwha Group to Set Up an ESG Committee at Each of Its Listed Affiliates

Hanwha Group will set up an environmental, social and governance (ESG) committee at each of its listed affiliates.

Hanwha Aerospace, Hanwha Systems and Hanwha General Insurance held a board meeting last week and decided to set up an ESG committee. Each of them plans to appoint one of its outside directors as the committee chairman and establish mid- to long-term ESG policies and strategies and check the implementation status through regular and irregular meetings.

Hanwha Corp. and Hanwha Life Insurance have already completed the establishment of an ESG committee. Hanwha Investment & Securities is also planning to set up its ESG committee after a board meeting in July. This concludes the installation of ESG committees at the group's seven listed companies.

Apart from the listed companies, Hanwha Asset Management, an unlisted company, also set up its ESG committee through an extraordinary shareholders' meeting in April and is focusing on internalizing ESG as a business philosophy.

"ESG has become a key management principle for global companies," Hanwha Group chairman Kim Seung-yeon said in his New Year's address in earlier 2021. "As a leader in the global renewable energy sector, we will actively respond to climate change and put a spur to environmental management to lead the zero carbon era."