SDGs Industry Guide 'Finance' (3/29), 'Transportation & Logistics' (4/12) Seminar Outcome Report
The Global Compact Network Korea (GCNK) published the SDGs Industry Guide <Finance> and <Transportation and Logistics> and brought together practitioners from each sector respectively on March 29 (Fri) <Finance> and April 12 (Fri) <Transportation and Logistics> for sharing global collaboration platform and SDGs practices related to each industry.
The SDGs Industry Finance Seminar was held with participation from Kyobo Life Insurance, National Pension Service, Korea Deposit Insurance Corporation, Korea Technology Finance Corporation, HSBC Korea, Who's Good, UNEP FI Korea and WWF Korea, etc.
Park Suk-bum, Secretary-General of the GCNK, said in his welcoming remark, “SDGs Industry Guide Series, researched and published by the GCNK since 2018 is helping Korean companies improve their sustainability management activities and support the SDGs by showing the status and level of SDGs of UNGC global members, and we hope to help raise the implementation level of the SDGs to the next level.” In addition, the GCNK Working Group on issues - SDGs, Human Rights, Anti-corruption - will be held this year to provide networking and peer learning opportunities among the member companies.
Kwak Geul, Senior Researcher of the GCNK, presented 'UN Global Compact and SDGs' while introduction of 'SDGs Industry Guide <Finance>' was delivered by So Wan, Researcher of the GCNK. They explained the shared value opportunities that banks, insurance/reinsurance companies, investors, pension funds, stock exchanges, and other financial and economic entities can achieve when implementing the SDGs, and introduced some of the key financial industry principles with global initiatives and partnerships for Korean companies to participate. In particular, both explained the recent strengthening trends of public disclosure of Environmental, Social and Governance (ESG) information and the expansion of Socially Responsible Investment (SRI). Moreover, implementation status of different SDGs targets by overseas businesses and organizations such as Principles of Responsible Investment (PRI), Sustainable Stock Exchange Initiative (SSE), Standard Chartered, Swiss Re, MasterCard, and Norway Government Pension Fund Global (GPFG) were introduced.
In addition, various sustainability issues and the role of the financial industry for SDGs implementation were mentioned during the sharing of SDGs activities. Participants presented different activities linked to their businesses and a number of issues that emerged during the alignment of SDGs goals.
As the weight of social value agenda has increased in public institution management evaluations in recent years, practitioners have said that performance indicators are changing to create more decent jobs and contribute to local communities, which is also in line with the SDGs values. In addition, various issues such as development of ESG evaluation tools using AI, financial guarantee for women and young entrepreneurs companies, introduction of the Task Force on Climate-related Financial Disclosures (TCFD), and SDGs Reporting were shared. Lee Eun-kyung, Chief/Senior Researcher of the GCNK, said that GCNK launched the Korean version of ‘Integrating the Sustainable Development Goals into Corporate Reporting: A Practical Guide’, which was published by the UNGC providing guidance on corporate SDGs reporting and disclosures. Lee further noted that the GCNK continues to cooperate with other key stakeholders such as WWF Korea, UNEP FI, PRI, and the National Assembly to support implementation of the SDGs of our participants and asked for their proactive participation and attention.
The GCNK held the SDGs Industry Transportation & Logistics Seminar on April 12 (Fri) by inviting business practitioners from the transportation and logistics industries. Those include attendees from KCTC International, Kyobo Life Insurance, Korea Airports Corporation, Korea Transportation Safety Authority, CJ Korea Express, DHL Korea, DNV-GL and WWF Korea.
Prior to the start of the seminar, Park Suk-bum, Secretary-General of the GCNK, presented the data released by the Business and Sustainable Development Commission (BSDC), and said, "Mobility-based industries such as transportation and logistics industries have great influence in achieving the SDGs, and we can find more business opportunities in the process." He emphasized that companies in related industries can invest in future innovation technologies and use them to contribute to the SDGs achievement along with the growth of the company. To this end, Park announced the GCNK’s plan to run Working Group by Issues – SDGs, Business and Human Rights, Anti-corruption – for peer learning and networking among UNGC participants.
Following session was an introduction of ‘UN Global Compact and SDGs’ by Kwak Geul, Senior Researcher of the GCNK. Kwak shared the core contents of the newly published 'SDGs Industry Guide <Transportation and Logistics>’ and emphasized the importance of the industry along developed, developing, and least developed countries for connecting the markets and creating jobs by promoting social and economic development through efficient movement of people, goods and materials. Kwak further explained that this enables creation of industry growth as well as business opportunities by enhancing accessibility of mobile services; improving resource efficiency; safety and security of transportation; and investing in transportation infrastructure through SDGs implementation efforts.
Additionally, multilateral stakeholder partnerships and collaboration platforms such as ‘Sustainable Shipping Initiatives (SSI)', ‘Partnership on Sustainable Low Carbon Transport’, etc. were introduced, and Kwak mentioned that many leading companies have set ambitious goals and adopted new technologies to actively respond to global environmental standards that are being strengthened, while they recognize SDGs as a source of innovative solutions to solve global problems. At the end, exemplary cases of leading companies implementing SDGs such as Airbus, Canadian National Railways, DHL, FedEx, Maersk, and Toyota were shared.
Finally, participants discussed sustainability issues surrounding the industry and the role of businesses for achieving the SDGs. Participants shared their SDG activities as well as challenges they face in the process of internalizing CSR into their system. Particularly, recent social issues such as fine dust, women’s empowerment, and supply chain management tend to exert great impact on the transportation and logistics industries, which various measures need to be considered in response.
Lee Eun-kyung, Chief/Senior Researcher of the GCNK, explained global sustainable management and socially responsible investing trends with real business cases. For example, “Black Rock recently adopted the 10 principles of the UN Global Compact as a core component of the ESG disclosure. In addition, global pension funds such as Norway Government Pension Fund Global (GPFG) and Government Pension Investment Fund (GPIF) consider gender diversity of governance bodies and employees as corporate investment factors.” Lee further introduced 'Gender Gap Analysis Tool', a self-assessment method developed by UNGC and UN Women, and a planned joint effort project for the fine dust reduction centered on five major domestic utilities companies and manufacturing companies, and encouraged members active participation.
Since 2018, Global Compact Network Korea has been publishing SDGs Industry Guide on six industries; <Food & Beverage and Consumer Goods>, <Manufacturing>, <Healthcare and Life Science>, <Energy, Natural Resources and Chemicals>, <Finance>, <Transportation and Logistics>, and has had a series of seminars with related companies. The GCNK will continue to share various research materials related to SDGs, provide training and grounds for discussion, and support the establishment and implementation of SDGs business strategy of our member companies. We would like your warm participation and interest.