The coronavirus has changed people's concerns about environmental issues, the climate crisis, individual lifestyles, corporate management styles, and the indicators and perceptions by which consumers evaluate corporations. ESG is a representative example of these changes. In the past, ESG was primar...
The coronavirus has changed people's concerns about environmental issues, the climate crisis, individual lifestyles, corporate management styles, and the indicators and perceptions by which consumers evaluate corporations. ESG is a representative example of these changes. In the past, ESG was primarily recognized as corporate expenses, affecting only the stability of corporations. However, cases that affect not only stability but also profitability and growth are gradually increasing when a problem occurs in a corporation’s ESG management. As a result, investors are demanding ESG information from corporations and the importance of ESG management, the importance of ESG management of a company, which is not only pursuing financial structure but also sustainable management through non-financial structure, is increasing. Corporations should pursue management in a way that considers nature and contributes to society, rather than management to simply increase profits, so that they can gain more investor trust which becomes a positive factor in management performance.
However, different ESG evaluation standards and the plethora of evaluation institutions aggravate confusion for investors and corporations. There are hundreds of Korean and international ESG evaluation indices, and there are situations where a corporation that has received the highest rating from a specific institution gets an average rating from another institution. Therefore, evaluation institutions, corporations, and stakeholders must prepare for this, address issues of transparency and reliability, and corporations must focus their efforts on ESG management, referring to the ESG evaluation’s best practices of key institutions and international standards.
The purpose of this study is to comprehensively summarize the knowledge of ESG, which is emerging as a management trend, and to learn about the ESG management cases of Korean and international corporations and ESG management promoted by financial institutions in detail. Through past papers and reports from major institutions, a literature study on the correlation among ESG, financial performance, corporations’ values were studied, and through various articles, the current ESG management cases and problems of Korean and international corporations were identified. This allowed me to summarize the role of finance in revitalizing ESG management in three ways: first, actively compensating companies for promoting ESG management and improving laws and systems; second, activating ESG performance-linked financial intermediation; and third, establishing an infrastructure for financial institutions that can objectively measure ESG value.
This study is premised on the necessity of the ESG field, and unlike previous studies on the efforts of corporates for ESG management; it is meaningful by suggesting efforts and future directions for financial institutions and inducing interest in the field.
The coronavirus has changed people's concerns about environmental issues, the climate crisis, individual lifestyles, corporate management styles, and the indicators and perceptions by which consumers evaluate corporations. ESG is a representative example of these changes. In the past, ESG was primarily recognized as corporate expenses, affecting only the stability of corporations. However, cases that affect not only stability but also profitability and growth are gradually increasing when a problem occurs in a corporation’s ESG management. As a result, investors are demanding ESG information from corporations and the importance of ESG management, the importance of ESG management of a company, which is not only pursuing financial structure but also sustainable management through non-financial structure, is increasing. Corporations should pursue management in a way that considers nature and contributes to society, rather than management to simply increase profits, so that they can gain more investor trust which becomes a positive factor in management performance.
However, different ESG evaluation standards and the plethora of evaluation institutions aggravate confusion for investors and corporations. There are hundreds of Korean and international ESG evaluation indices, and there are situations where a corporation that has received the highest rating from a specific institution gets an average rating from another institution. Therefore, evaluation institutions, corporations, and stakeholders must prepare for this, address issues of transparency and reliability, and corporations must focus their efforts on ESG management, referring to the ESG evaluation’s best practices of key institutions and international standards.
The purpose of this study is to comprehensively summarize the knowledge of ESG, which is emerging as a management trend, and to learn about the ESG management cases of Korean and international corporations and ESG management promoted by financial institutions in detail. Through past papers and reports from major institutions, a literature study on the correlation among ESG, financial performance, corporations’ values were studied, and through various articles, the current ESG management cases and problems of Korean and international corporations were identified. This allowed me to summarize the role of finance in revitalizing ESG management in three ways: first, actively compensating companies for promoting ESG management and improving laws and systems; second, activating ESG performance-linked financial intermediation; and third, establishing an infrastructure for financial institutions that can objectively measure ESG value.
This study is premised on the necessity of the ESG field, and unlike previous studies on the efforts of corporates for ESG management; it is meaningful by suggesting efforts and future directions for financial institutions and inducing interest in the field.
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