SK Chairman says ESG governance will help overcome environmental crisis

SK Group Chairman Chey Tae-won (SK)

SK Group Chairman Chey Tae-won said Thursday that it was important to embrace environmental, social and corporate governance and nurture empathy to overcome the current environmental crisis.

Speaking at Tokyo Forum 2020, an event held jointly by the Chey Institute for Advanced Studies and the University of Tokyo, he said people are now living in the Anthropocene Epoch, a time when human activity has begun having a major impact on the environment.

Chey said the “world is in urgent need” of a new system and methods to “change our behaviors that harm the environment.” Focusing on ESG values is the answer to overcoming crises such as the ongoing COVID-19 pandemic, he added.

While urging companies to be more conscious of environmental and social issues, Chey also called for a system in which companies are rewarded for pursuing ESG values. As an example, he pointed to SK’s “Social Progress Credit” system.

By Yim Hyun-su (hyunsu@heraldcorp.com)