DSME sets up ESG division to support eco-friendly businessDaewoo Shipbuilding & Marine Engineering (DSME) set up an ESG division to support its eco-friendly business in step with increasing renewable energy use in the shipbuilding industry, the shipbuilder said Thursday.
ESG is short for environmental, social and governance criteria using factors to evaluate companies on how far advanced they are in the sectors of environmental protection, social justice and business ethics.
The division will focus on plans to improve the efficiency of equipment using a lot of electricity at its shipyards and map out a mid- and long-term road map to reduce the emissions of greenhouse gases, as well as invest in development of eco-friendly technologies, DSME said.
The shipbuilder will turn itself into a company that fully carries out the ESG criteria in its management by 2024, it said.
DSME also said it plans to issue a report to herald its ESG management activities starting next month.