HK inno.N holds the First Sustainable Management Committee
May 31, 2023
HK inno.N holds the First Sustainable Management Committee
Establishment of the Sustainable Management Committee Within the Board of Directors
Jaeseok Park, an outside director, has been appointed as the chairman. The committee consists of a total of six members, including three outside directors
HK inno.N leads ESG management by establishing an expanded ESG risk management system that reaches the level of the Board of Directors
On the 25th of last month, HK inno.N announced that they held the first Sustainable Management Committee at their Seoul office located in Euljiro, Jung-gu. With the establishment of the Sustainable Management Committee, HK inno.N demonstrated a strong commitment to ESG management.
The committee is responsible for reviewing and making decisions on HK Inno.N's ESG strategy, initiatives, investments, performance indicators, and non-financial risk management.
Previously, ESG risks were managed through the ESG Working Group and the ESG Management Committee under the management team. However, with the establishment and operation of the Sustainable Management Committee within the Board of Directors, it is expected that a more enhanced supervision of ESG risk management will be achieved through the organic connection of the operational organization, management team, and the Board of Directors.
The committee consists of two executive directors, one non-commercial director, and three outside directors, totaling six members. Regular meetings will be held semi-annually.
During the committee meeting, decisions were made, including the appointment of the chairman, regarding the establishment of biodiversity policies within the environmental sector as part of the ESG policies. Discussions were also held on ESG management strategy systems and the subscription of the Korean RE100.
In order to enhance the independence and transparency of the committee's operations, HK inno.N appointed Jaeseok Park, an outside director with expertise and experience in law, accounting/finance, and policy, as the chairman of the committee.
Chairman Jaeseok Park stated, “By operating the Sustainable Management Committee within the Board of Directors, we will execute enhanced ESG management and oversight compared to previous practices.”
Meanwhile, HK inno.N added provisions to their articles of incorporation in the regular shareholders’ meeting in March, allowing for the establishment of the Sustainable Management Committee within the Board of Directors. On the 25th, the Board of Directors approved the establishment of the Sustainable Management Committee and the enactment of regulations for its operation.