Lotte focuses on good governance
Affiliates embrace ESG philosophy with a range of initiatives
![Lotte World introduced its environmental, social and governance management policies under the slogan “A Better World.” [LOTTE]](https://koreajoongangdaily.joins.com/data/photo/2023/02/27/4dc25989-b43a-46d9-8722-211c6e4d6c61.jpg)
Lotte World introduced its environmental, social and governance management policies under the slogan “A Better World.” [LOTTE]
![[LOTTE]](https://koreajoongangdaily.joins.com/data/photo/2023/02/27/705a1d17-e06d-444e-b21f-4b93cdf58aef.jpg)
[LOTTE]
By establishing ESG committees within the board of directors at its listed companies, creating a dedicated ESG unit and publishing its own sustainability report, Lotte is conducting systematic and transparent management. Lotte is the first business group in Korea to set up an ESG committee within the board of directors and oblige the publication of sustainability reports, and initiative that was implanted in October 2021.
Lotte World, the theme park managing arm of Lotte Group, announced that it has published its first ESG Report covering 2021 and the first half of 2022 on Feb. 13.
Lotte World has branded its ESG management strategy under the slogan “A Better World,” and it was the first theme park operator in Korea to announce its ESG management plans. The newly-published report includes both an overall ESG vision and strategic tasks and performance goals the company needs to meet.
Lotte Group is also striving to expand ESG management through eco-friendly activities.
Lotte E&C, the engineering and construction arm of the group, announced on Feb. 3 that it has developed an eco-friendly form of concrete as part of its goal of achieving carbon neutrality by 2050 in partnership with With M-Tech, a venture company for developing new eco-friendly construction materials.
Using the eco-friendly concrete, Lotte E&C plans to reduce the amount of embodied carbon that is generated during production and construction and drastically reduce the use of cement, the main cause of carbon emissions in building.
As the newly developed eco-friendly concrete can reduce carbon dioxide emissions by up to 90 percent compared to regular cement, it can cut about 6,000 tons of embodied carbon emissions in the construction of 1,000 households, equivalent to planting about 42,000 trees.
Convenience store chain 7-eleven announced on Feb. 2 that it will replace all regular-sized plastic ice cups with paper cups to further reduce plastic usage. This change will lead to a reduction in 50 million plastic cups every year.
The new paper ice cups use “sole coat,” an eco-friendly coating technology that can reduce emissions of carbon and greenhouse gas while having excellent functionality and water resistance so that the shape of the cup does not collapse even if it contains cold drinks.
Lotte Confectionery aims to create value through its B. Startup Open Innovation Challenge 2023 program, and has been recruiting participating companies this month.
The B. Startup Open Innovation Challenge 2023 program is a representative platform for open innovation that marks its fourth anniversary this year. Lotte’s goal is to discover local start-ups with outstanding innovative technology and services for potential collaboration with large companies and potentially even future partnership opportunities.
The Lotte Scholarship Foundation continued its efforts to create a warm society by opening a dormitory to address housing costs for university students.
The University Students' Dormitory of Lotte Scholarship Foundation in Mapo-gu, western Seoul opened on Feb. 16, providing housing for a total of 138 people across 69 dormitories with facilities including a fitness center, reading room, shared kitchen and L-Café.
Food service company Lotte GRS announced on Feb. 8 that it will participate in a campaign run by the Seoul Metropolitan Government to increase education to spread a culture of consideration for customers with the aim of actively helping elderly customers who struggle using kiosks to order food.
BY PARK YE-EUN [park.yeeun@joongang.co.kr]
with the Korea JoongAng Daily
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