• Title/Summary/Keyword: ESG standards

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ESG Evaluation and Response of Construction Companies in Korea (국내 건설기업의 ESG 평가 및 대응방안)

  • Park, Hwan-Pyo
    • Journal of the Korea Institute of Building Construction
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    • v.23 no.6
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    • pp.785-796
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    • 2023
  • The adoption of Environmental, Social, and Governance(ESG) practices in domestic construction firms is predominantly driven by major corporations. These companies not only publish reports on their ESG management but also engage in a meticulous process of identifying key issues and setting priorities. This process entails an in-depth evaluation of the severity of various issues and the gathering of insights from experts in the field. Interestingly, a comparative analysis of ESG assessments for construction companies, both domestically and internationally, reveals significant discrepancies in outcomes. These differences stem from the varied evaluation methodologies and criteria employed by different assessing bodies. Addressing this gap, our study proposes a suite of strategies aimed at bolstering ESG management within the construction sector. We advocate for enhanced policy support and financial backing, especially targeting small and medium-sized enterprises(SMEs) to facilitate their engagement in ESG practices. A critical step forward involves the standardization and transparent disclosure of ESG evaluation criteria, tailored to reflect the unique aspects of the construction industry. Moreover, the standardization and publication of ESG assessments for subcontractors are essential, equipping them with the necessary tools for effective ESG management and evaluation. Given the global nature of construction projects, particularly those commissioned by the European Union in regions like Africa and East Asia, adherence to ESG standards is imperative. Our long-term vision includes the development of a comprehensive database detailing ESG regulations and their impacts, segmented by region and country. This repository will serve as a valuable resource for companies venturing into international construction projects.

Research on ESG management rationality through comparison of Aristotle's concept of 'citizen' and 'corporate citizenship' (아리스토텔레스의 '시민' 개념과 '기업시민' 개념의 비교를 통한 ESG 경영 합리성 연구)

  • YUN JIN PARK
    • The Journal of the Convergence on Culture Technology
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    • v.10 no.2
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    • pp.333-341
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    • 2024
  • So far, the rationality of management decisions has been limited to the economic rationality of maximizing self-interest. However, management rationality in the ESG era, which pursues the interests of the environment, society, and the company from the perspective of harmony and balance, requires new judgment standards. The goal of ESG management is sustainable development. Sustainable development goes beyond the accumulation of wealth, which was the goal of the past economy, and aims for the happiness of the entire society, including coexistence and fair development that develops together with the entire society. From Aristotle's perspective, the happiness of the entire society promoted by sustainable development is no different from the highest good of citizens, members of the community. Accordingly, this paper attempted to explore the new management rationality required for managers in the ESG era by comparing Aristotle's concept of citizenship with the concept of 'corporate citizenship', one of the main concepts of ESG management. Through this, we sought to show that companies are essentially communal entities and that the company's pursuit of profit requires rationality of balance and harmony with environmental and social interests.

Investigating the Influence of ESG Information on Funding Success in Online Crowdfunding Platform by Using Text Mining Technique and Logistic Regression

  • Kyu Sung Kim;Min Gyeong Kim;Francis Joseph Costello;Kun Chang Lee
    • Journal of the Korea Society of Computer and Information
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    • v.28 no.7
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    • pp.155-164
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    • 2023
  • In this paper, we examine the influence of Environmental, Social, and Governance (ESG)-related content on the success of online crowdfunding proposals. Along with the increasing significance of ESG standards in business, investment proposals incorporating ESG concepts are now commonplace. Due to the ESG trend, conventional wisdom holds that the majority of proposals with ESG concepts will have a higher rate of success. We investigate by analyzing over 9000 online business presentations found in a Kickstarter dataset to determine which characteristics of these proposals led to increased investment. We first utilized lexicon-based measurement and Feature Engineering to determine the relationship between environment and society scores and financial indicators. Next, Logistic Regression is utilized to determine the effect of including environmental and social terms in a project's description on its ability to obtain funding. Contrary to popular belief, our research found that microentrepreneurs were less likely to succeed with proposals that focused on ESG issues. Our research will generate new opportunities for research in the disciplines of information science and crowdfunding by shedding new light on the environment of online micro-entrepreneurship.

A study on the weighting of the Environmental Index for SCM ESG -Focusing on the participation of Korean SMEs in the Global Secondary Battery Supply Chain- (공급망 ESG 환경평가지표 가중치 분석에 관한 연구 - 글로벌 이차전지 공급망 참여를 위한 한국 중소기업을 중심으로 -)

  • Jong-Hee Jeong;Seong-Ho Kim
    • Korea Trade Review
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    • v.48 no.3
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    • pp.1-22
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    • 2023
  • Many major country have struggled to build a block of the secondary battery industry supply chain by considering their interests first. And their supply chain due diligence agreement mandates due diligence on human rights and environmental risks that may occur throughout the supply chain. So the integrated approach called supply chain ESG is needed. But there isn't to be a global standard for ESG yet. And the disclosure standards for each country are different, adding to companies' confusion. In this perspective, to present guidelines for establishing a supply chain ESG management strategy accompanied by Korean SMEs, this study presents environmental evaluation indicators of global secondary battery supply chain ESG customized for Korean SMEs and then performs weight analysis using AHP methodology. Through this, this study aims to suggest implications for accepting sustainability within the supply chain of Korean SMEs by presenting indicators to be considered first among environmental evaluation indicators in preparation for ESG due diligence of the global secondary battery supply chain.

Case Study on ESG Activities and Performance in Response to the Climate Change Crisis (기후변화 위기에 대응하는 건설기업 ESG 활동 및 성과 사례)

  • Lee, Yoonsun;Moon, Hyuk;Lee, Tai Sik
    • Korean Journal of Construction Engineering and Management
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    • v.22 no.2
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    • pp.106-118
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    • 2021
  • Global governments and initiatives have attempted and integrated various organizational efforts to implement the 17 Sustainable Development Goals (SDGs), presenting a new paradigm of sustainable development to address global issues (climate change, poverty eradication, and human rights). Recently, investment in sustainable finance has expanded to finance the attainment of goals set out in the Paris Agreement and SDGs. Non-financial factors such as environment, social responsibility, and governance (ESG) have become intangible assets that determine the future competitiveness and profitability of companies. Domestic and foreign institutional investors and asset management companies have been expanding their investments based on the ESG performance of companies. In this study, we aim to derive international standards and initiatives that require disclosure of information on corporate social responsibility activities and ESG performance and analyze construction companies' ESG activities and performance levels. The results of this study can be used as the basis to develop platforms for the construction industry ESG ecosystem and the measurement and management of intangible assets. These could ultimately contribute to overcoming the crisis in the future due to the outbreak of the COVID-19 pandemic, fostering net-zero emissions, and preventing fatal workplace accidents in the construction industry.

Development of Service Guide for Mobile Broadcast Considering Interoperability (호환성을 고려한 모바일 방송용 서비스가이드 개발)

  • Kim, Jun-Hwan;Jang, Sung-Man;Jeong, Shin-Il;Kyung, Il-Soo;Kim, Hyun-Soon
    • Journal of Broadcast Engineering
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    • v.14 no.6
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    • pp.676-691
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    • 2009
  • Recently mobile broadcast standards that have IP layer between transport layer and service layer such as DVB-IPDC, OMA-BCAST have been commercialized. Specially, IP abstract layer of OMA-BCAST makes it possible to interface diverse transport layers. Service guide, that is important for user interface, of these mobile broadcast standards has complex structure and heterogeneous schema. ESG schema is not interoperable, therefore terminals should have various implementations of service layer to support more than one service layer at a time. In this paper, not only for enabling interoperability of DVB-IPDC and OMA-BCAST but for supporting basic scenarios of mobile broadcast, simple ESG schema was developed. This new schema can be used as an independent ESG schema, especially for the integrated mobile broadcast middleware environment.

The Impact of Environmental Social Governance Management for Improving Gas Firm Performance

  • Seung-Chul LEE
    • The Journal of Industrial Distribution & Business
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    • v.14 no.4
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    • pp.23-31
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    • 2023
  • Purpose: Gas firms often fall victim to disregarding the importance of sensitivity, thus leading to many unprecedented repercussions. To ensure that gas firms fully contribute to sustainability and ethical standards, environmental Social Governance (ESG) has been identified as the ideal framework. This study aims to investigate the impact of ESG management for improving gas firm performance. Research design, data and methodology: The prior qualitative literature analysis was to figure out adequate past research for the topic based on the major portal web databased, such as 'Google Scholar' and 'Scopus' to make sure resources' credibility. Results: Gas firms are among the pertinent organizations vis-à-vis environmental destruction issues. Gas firms emit dangerous gases such as ethane, carbon dioxide and methane that are dangerous for the people and the environment. Thus, many pro-environmental conservation stakeholders have had rallying calls for such gas firms to mitigate environmental pollution intentionally. Conclusions: This study may be used to human resources in improving employee results elsewhere. Besides, it can be of the essence in improving the relationship between such firms and society. Therefore, the study findings are of greater significance and implications to multiple parties, users and stakeholders regarding the research topic and beyond the current scope of the study.