Lotte strengthens its ESG force with mindful support

Guest Reports

Published: 31 Oct. 2023, 14:04

Lotte strengthens its ESG force with mindful support

At the Korea Brand Expo in Jakarta, which ran for four days from Sept. 5, Lotte offered consultation sessions for businesses. [LOTTE CORPORATION]

Lotte Chairman Shin Dong-bin has emphasized the importance of shifting management perspectives to consistently incorporate environmental, social and corporate governance (ESG) principles and strengthening corporate value, while speaking at this year's second-half Value Creation Meeting (VCM).

Lotte organized the Korea Brand Expo from Sept. 5 for four days in Jakarta, Indonesia, to support the local expansion of domestic small- and medium-sized enterprises (SMEs).

During the event, Lotte led consultations that connected 50 domestic enterprises with Indonesian buyers as well as held consultation sessions to assist in local market entry, targeting businesses facing challenges in exploring global markets.

Furthermore, an import consultation meeting was held to support the entry of 100 Indonesian SMEs into the Korean market, making it a mutually beneficial event for both countries.

The Korea Brand Expo, in its 17th edition this year, has provided consultation service to 8,513 cases, covering some 1.3 trillion won ($959 million) of capital.

Since 2013, when Lotte became the first domestic company to declare a “Diversity Pledge,” it has created various efforts to foster a work culture where female talents can thrive.

On June 8, Lotte held the 3rd Together Sharing Project at the City Childcare Support Center in Yeosu, South Jeolla, in collaboration with the Korean Chamber of Commerce and Industry and Hana Financial Group.

In this event aimed at discussing the way to improve the child care environment for local children, Lotte has pledged to invest 1.5 billion won to establish a “Mom’s happiness playground” in four regions nationwide, including Yeosu.

Alongside the first installation in Yeosu, Lotte plans to create public playgrounds and remodel aging playgrounds in local child care centers and parks with environmentally friendly materials.

With the leadership of the company’s ESG management committee launched in 2021, Lotte is making comprehensive efforts toward achieving its “2040 Carbon Neutrality” pledge, with each affiliate company working together.

Lotte Holdings operated the Lotte Group Booth at the 1st World Climate Industry Expo held at BEXCO in Busan from May 25 to 29. Lotte showcased the company's technologies and products that reflect concerns for the planet.

An environmental purification project to improve the water quality of Seokchon Lake, the only natural lake in Seoul, is also underway to transform it into a comfortable and clean leisure destination for citizens.

In this symbolic project, participation has expanded to include six of Lotte’s affiliate companies — Lotte Holdings, LOTTE Property & Development, Lotte World, Lotte Department Store, Lotte Chilsung Beverage and Lotte Chemical.

Two years of consistent efforts to improve the water quality of Seokchon Lake are paying off. Water transparency has increased from 0.6 meters to up to 2 meters, and the overall water quality has improved from grade 3 to grade 2.

BY KIM SU-HYEON [kim.suhyeon4@joongang.co.kr]