2022 KT&G ESG Report: Sustainability Strategy and Performance
According to a report from Yonhap News Agency on August 7th, KT&G (Korean Tobacco & Ginseng Corporation) has released its "2022 KT&G Comprehensive Report," which focuses on environmental, social, and corporate governance (ESG) aspects. The report includes information on the company's sustainability strategies and performance data.
The report consists of a "Strategic Report," an "ESG Report" covering performance in the ESG field, and an "ESG Factbook" reflecting global disclosure indicators and quantitative performance.
KT&G has unveiled its "2027 New Vision" in its strategic report, which aims to achieve future growth and ESG value. The company plans to drive growth in core business areas such as non-combustible tobacco (NGP) and health functional foods, while also innovating its business structure to contribute to sustainable development.
The report also emphasized the group's commitment to strengthening ESG implementation at the KT&G Group level through its "2030 KT&G Sustainable Business Goals." The company has revised its key performance indicators (KPIs) to include a broader scope, such as greenhouse gas emission reduction rate, proportion of renewable energy use, global waste management certification attainment rate, and human rights impact assessment execution rate.
The report also provides specific details on the achievements of KT&G in key ESG areas.
KT&G has announced that within two years of establishing its environmental management vision of "KT&G Green Impact," its greenhouse gas emissions have reduced by 7.5%. This year, the company plans to expand renewable energy sources by over 18%, utilizing methods such as rooftop solar power generation.
Baek Bok-in, Chairman of KT&G Corporation, stated during the release of the report:
By undergoing business transformation and integrating ESG values, we aim to leverage the competitive advantage of our core growth businesses to become one of the top global international companies within the next five years. Over 50% of our sales will be generated from overseas markets.
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