The financial district of Yeouido in Seoul. (Yonhap)
SEOUL, July 7 (Korea Bizwire) — South Korea’s bourse operator said Thursday that it will provide guidelines that meet global standards for listed firms’ disclosures for their environment, social and governance (ESG) management.
The Korea Exchange (KRX) has been pushing for advanced ESG disclosure systems to match global standards, best represented by the International Sustainability Standards Board (ISSB).
ESG management refers to a managerial approach that stretches a company’s role beyond profit-making to social and environmental responsibilities.
Last year, the KRX, the Korea Accounting Institute and other bodies embarked on preparatory steps to introduce the Korean Sustainability Standards Board (KSSB), or the localized version of ISSB’s ESG report standards.
KRX President Sohn Byung-doo said the enforcement of the KSSB’s ESG disclosure standards will be possible in 2025 at the earliest, considering the complexity of the matter and the pressure on listed firms.
In the latter half of this year, the KRX will upgrade its ESG portal, seeking to provide a broader range of information on listed firms’ ESG management.
(Yonhap)
