ESG Research Institute hosts ESG Management Colloquium with Public Institutions 

Introduction of ESG management to public institutions is a societal demand…Expansion of K-ESG is necessary  

 On May 12th, a colloquium on ESG management, hosted by the Korea University Business School (Dean=Sangyong Kim) ESG Research Institute (Director=Jay Hyuk Lee) and the Korean Association for Governance Studies (KAGS), took place at the LG-POSCO Hall. With the growing emphasis on the importance of ESG management and the need to expand it to the public sector, the colloquium focused on the theme of "Public Institutions and ESG Management" and a total of 200 participants attended. The event was held in conjunction with the 2023 KAGS Spring Academic Conference, which centered on the topic of "Public Performance and Innovation during the Era of Transition: Public Institutions K-ESG and Governance." 

The colloquium began with congratulatory remarks by KAGS President Choi Hyunseon and ESG Research Institute Director Jay Hyuk Lee. President Choi expressed his anticipation for the rich discussions that would take place in the twelve sub-sessions under the theme of "Public Performance and Innovation during the Era of Transition" and mentioned that in-depth discussions on various fields such as depopulation, safety, regional issues, local finance, and culture, along with alternative solutions, would be held. He also expressed gratitude to Korea University and Director Lee for providing the venue for the academic conference and announced that a draft of "Public Institutions' K-ESG" tailored to the characteristics of public institutions would be presented. 

Director Jay Hyuk Lee then explained that ESG management, which seeks sustainability in terms of the environment, society, and governance, is increasingly demanded by public institutions responsible for the well-being of the nation and its people. He stated, "These societal demands necessitate systematic discussions on activating ESG management in public institutions" Also he mentioned the sessions on K-ESG public institutions sections, guideline indicators, and guideline applied sessions and expressed his hope that public institutions as the foundation of the nation would become more sustainable through these discussions 

Following the opening remarks, Acting Minister Han Chang-seop of Ministry of the Interior and Safety delivered a congratulatory message via video. Then, Deputy Minister Yoo Jae-cheol of the Ministry of Environment, President Choi Sang-han of the Korea Institute of Public Administration, President Kim Il-jae of the Korea Research Institute for Local Administration, Chairman Kim Wan-hee of the Management Evaluation Team in the Ministry of Economy and Finance, Director Na Sung-woong of the Korea Childcare Promotion Institute, President Lee Jae-won of the Korean Association for Local Finance, and Director Cho Hyun-rae of the Korea Creative Content Agency shared their expectations and reflections on the colloquium. 

Among the twelve parallel sessions held during the colloquium, the special round table on public institutions’ K-ESG" focused on discussions regarding the guideline for public institutions’ K-ESG. President Choi Hyunseon and Director Jay Hyuk Lee each made presentations and President Choi explained the definition of the guideline, the need for its development, and the methodology. He stated, "Given the recent global emphasis on ESG management, it is inevitable," and added, "However, to ensure efficient management of ESG performance indicators without excessive burdens, we have developed the guideline for public institutions’ K-ESG, taking into account the unique characteristics of public institutions." 

 Director Jae Hyuk Lee further stated, "We utilized the developed guideline for public institutions’ K-ESG and conducted pilot evaluations targeting 54 public institutions," and emphasized the need for discussions on the correlation between ESG-related indicators in the performance evaluation criteria for public institutions and the guideline indicators for public institutions’ K-ESG. He also highlighted the importance of responding to international standard changes through the dissemination of public institutions' K-ESG. 

This colloquium holds significant meaning as it followed the "ESG Colloquium: 2023 Outlook on Public Institutions and ESG Management," which took place on February 21st. Various discussions were held to promote ESG management in public institutions. The Korea University ESG Research Institute which hosted the colloquium, was recently promoted from research center to research institute to conduct a wider range of ESG research.