Furthermore, in February 2022, to enhance the efficiency of ESG-related decision-making and task execution, the existing Environmental Committee has been restructured into an ESG Committee.
GS Energy plans to participate in the GS Group ESG Committee to report on ESG issues in the power and energy industry, including key subsidiaries like GS Power and Incheon Comprehensive Energy.
Additionally, to enhance operational effectiveness, GS Energy has established the ESG TF to support the activities of the Group ESG Committee and the ESG management of key subsidiaries.
- Board of Directors
- ESG Committee 1. Establishment of ESG policies and implementation strategies at the GS Group level 2. Discussion and decision-making on all ESG-related matters
- Executive Committee (GS RM Department) 1. Deciding on resolutions and agenda items related to ESG 2. Developing common ESG policies for the group 3. Establishing an ESG information management system and data management 4. Monitoring sector-specific challenges and risks
-
The operational team and secretariat of each of the 10 companies
- GS Caltex
- GS Energy
- GS Power
- Incheon Total Energy
- GS Retail
- GS EPS
- GS E&R
- GS Global
- GS E&C
- GS Co., Ltd
| External Evaluation Response and ESG Performance Management | Details | Status |
|---|---|---|
| '22 ESG Evaluation Response | (SustainBest) ESG Performance Management for GS Energy and its Subsidiaries | |
| Establishment of ESG Performance Management System | Derivation of ESG Performance Assessment and Monitoring Methods | |
| Implementation and Review of ESG Strategic Initiatives at Each Company | Common Initiatives for Three Companies: Establishment of Environmental Policies, Adoption of Human Rights Charters, Formulation of Cooperating Company Code of Conduct, ESG Reporting | |
| GS Energy: Introduction of ESG Evaluation Process for New Businesses, Human Rights Management System, Employee and Executive Engagement in Social Contribution Activities | ||
| GS Power/Incheon Comprehensive Energy: Development of Human Rights Management System and Cooperating Company Management Approach | ||
| Boryeong LNG Terminal: Promotion of ESG Disclosure | ||
| Carbon Reduction (Neutrality) Promotion Strategy | Exploration of Mid to Long-Term Greenhouse Gas Reduction Measures | |
| Communication with Stakeholders on Carbon Neutrality |
Establishment and Ongoing Completed
Neutrality Policies
as well as the related business opportunities and risk factors,
of the revised 2030 NDC implementation roadmap and the announcement of the top 100 core technologies for carbon neutrality.
The company will continue to engage in ongoing policy monitoring and discussions at the ESG Committee level to formulate response strategies.
in ESG information disclosure requirements and enhanced evaluations.
Therefore, the company is establishing an ESG performance management system for its subsidiary companies to comprehensively monitor their ESG status and support them in internalizing ESG management.
Furthermore, the company makes continuous efforts in planning and structuring the Sustainable Management Report each year, striving to meet stakeholders' needs through strategic ESG disclosures.
Based on this, the company is aggregating quantitative data and in the process of establishing performance indicators that can manage medium to long-term targets. Additionally, it plans to build an integrated management system for monitoring future improvements.
| GS Energy Big Step 5 for ESG Management Leadership | Objectives |
|---|---|
| STEP 01Derivation of Common ESG Issues for Holding Company and Subsidiaries | Structuring ESG Strategic Tasks such as Carbon Neutrality, Social Contribution, and Board Diversity |
| STEP 02Establishment of Group-wide ESG Policies and Integration Governance for Unified ESG Project Promotion | Expanding Support for Co-prosperity by Pursuing Economic and Social Value Together |
| STEP 03Construction of Internal and Subsidiary ESG Performance Evaluation Systems | Maximizing Efficiency in ESG Management Performance and Oversight by Designing ESG Performance Evaluation and Compliance Check System |
| STEP 04Construction of Real-time Monitoring Information Systems for Integrated ESG Management | Pinpoint Management through Real-time Monitoring of ESG Performance Management |
| STEP 05Expansion of Subsidiaries Included in the ESG Integrated Management System | Reducing ESG Risks and Promoting Co-sustainable Growth for Subsidiaries |