According to Yonhap News Agency reported on August 7, KT&G (Korean Tobacco and Ginseng Co., LTD.) released the “2022 KT&G Comprehensive Report” Environmental, social and corporate governance (ESG) report, which contains sustainable business strategy and performance data.
The report consists of a “Strategy Report”, an “ESG Report” covering performance in the ESG field, and an “ESG Fact Book” reflecting global disclosure metrics and quantitative performance.
In the strategy report, KT&G disclosed a “New Vision 2027” aimed at achieving future growth and ESG value, and detailed its direction. The company plans to grow in core business areas such as heated non-burn tobacco (NGP) and healthy functional foods, as well as innovate in business structure to contribute to sustainable development.
The report also highlights the willingness to strengthen ESG implementation at the group level through the 2030 KT&G Group Sustainable Business Goals. The company has reformulated core performance indicators (KPIs) and expanded their scope to include greenhouse gas reduction rates, renewable energy use, global waste management certification and human rights impact assessment implementation rates.
The report also details KT&G’s achievements in the major ESG areas.
KT&G said it reduced its greenhouse gas emissions by 7.5 percent in the two years after building its environmental stewardship vision “KT&G Green Impact.” This year, the company plans to expand renewable energy by more than 18 percent, including through rooftop solar power.
Baek Bok-in, chairman of KT&G, said at the launch of the report:
“Through business transformation, combined with ESG value, we will build on the competitiveness of our core growth business to become a top international company in the world in the next five years, with overseas sales accounting for more than 50%.”
References:
[1] KT&G, ESG 성과 담은 ‘통합보고서’ 발간