YG Entertainment publishes the "2024 Sustainable Management Report"
Jul 03, 2024
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In particular, the report sought to present best practices for sustainability disclosure in the entertainment industry by applying the GRI Standards 2021, the U.S. Sustainability Accounting Standards Board (SASB) disclosure guidelines, and the Korea Sustainability Standards Board (KSSB) disclosure standards disclosure draft.
In this report, YG selected ▲ corporate governance ▲ climate change ▲ human capital as a major issue according to the results of the double significance evaluation, and disclosed major ESG (environmental, social, and governance) strategies, activities, and achievements in 2023.
In terms of governance, an outside director was appointed as the chairman of the board of directors, laying the groundwork for independent board operation, and a new outside director with expertise in accounting, law, and investment sectors was appointed to enhance the company's key decision-making capabilities. In addition, various governance improvement activities such as compliance, ethical management, and intellectual property rights protection paid off in June, which was designated as a global company in the KOSDAQ market by the Korea Exchange.
In terms of the environment, to achieve carbon neutrality by 2040 and RE100 by 2025, greenhouse gas emissions and energy use reductions for three consecutive years were cited as achievements. It also obtained ISO14001 certification, an environmental management system to manage environmental risks and continuously improve performance.
In terms of society, it faithfully contains various activities in which artists, fans, executives, and partners can realize inclusive values together.
In addition, YG released the first sustainable performance report by a domestic entertainment company in March. ▲Greenhouse gas management ▲Improve accessibility to performances ▲Fan engagement ▲Content influence ▲Concert hall safety management ▲Concert hall environmental pollution reduction ▲Sustainable performance governance was developed on its own, and it was applied to some of the Blackpink Seoul encore performances and AKMU/Treasure performances to take the lead in expanding sustainable performances.
Yang Min-seok, CEO of YG, said, `As K-pop and K-culture are becoming a global cultural phenomenon, we want to help spread joy and positive influence through YG's contents.' `We will continue to make efforts to create new sustainability through the power of culture, so please show us a lot of interest and support.'
rightlight@sportschosun.com
