ENTERTAINMENT
YG Entertainment publishes its first sustainability report... Strengthen ESG strategy
On the 4th, YG Entertainment published a sustainability management report containing ESG (Environmental, Social, and Governance) strategy and vision, key issues derived through the concept of 'double materiality' evaluation, and major activities, achievements, and plans for 2022 based on this. made the report public.
With the goals of 'strengthening ethical management' and 'realizing value management', YG has established three strategic directions: ▲responsible corporate management, ▲creation of eco-friendly values, and ▲spreading inclusive values. The vision for this is 'Impact Beyond Creativity', which means a promise to spread a positive influence by going one step further from playing good music.
Reflecting the recent ESG trend, YG introduced a double materiality test. ▲Advancing the ethical management and compliance system ▲Enhancing diversity and inclusion ▲Reducing greenhouse gas emissions and improving energy efficiency. did.
The biggest achievement in the activities to advance the ethical management and compliance system was the acquisition of the first standard compliance management system (ISO 37301) and anti-corruption management system (ISO 37001) integrated certification in the domestic entertainment industry. In order to create a fair and clean organizational culture, the CLEAN YG campaign is also underway with themes of compliance with the Improper Solicitation and Graft Act, mitigation of ethics and compliance risks through the vitalization of WBS, prevention of harassment in the workplace, and respect for the human rights and diversity of members. The code of ethics was revised to be more suitable for the entertainment industry, and compliance control standards were prepared by appointing a compliance officer through the ESG Committee.
In terms of enhancing diversity and inclusion, YG's unique DE&I (diversity, equity, and inclusion) activity strategy promotion system, 'IDEA FRAMEWORK', was established. This is a system created to develop representative programs for each item, such as inclusivity, diversity, equity, and accessibility, for key stakeholders such as members, fans, and artists. It expressed its will to 'always and equally respect individual characteristics such as religion, culture, language, identity, etc.', and plans to operate various representative programs in the future.
In terms of reducing greenhouse gas emissions and managing energy efficiency, the '2040 Carbon Neutral Roadmap' was set. In order to achieve carbon neutrality by 2040, the goal is to achieve company-wide RE100 by 2025 and to reduce greenhouse gas emissions by 65% compared to 2022 by establishing intermediate goals by 2030. In addition to this, YG is carrying out various activities to create an environment-friendly organizational culture, such as the YG Green campaign, resource-friendly campaign, eco-friendly photo studio and low-carbon diet, and planting companion plants using coffee grounds.
YG's co-CEOs Yang Min-seok and Hwang Bo-kyung said, "We will consider and realize sustainable values in our management activities so that we can contribute to practical social change and development" and "The challenge to expand the positive influence of popular culture continues today. We will do our best to fulfill our role as a responsible company in 2023.”
Meanwhile, the '2023 Sustainability Report' released by YG on its official website was written in compliance with the international guidelines for sustainability management (GRI Standards 2021) and the US Sustainability Accounting Standards Board (SASB) disclosure guidelines. Reliability was secured through the verification process of the Korea Certification Authority (KMR). An English report for communication with overseas stakeholders will also be released at a later date.
Reporter Yoon Jun-ho, Ten Asia delo410@tenasia.co.kr
