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YG Entertainment Sustainability Report. 2023.07.05. (Photo = Provided by YG) photo@newsis.com *Resale and DB prohibited
Reporter Lee Jae-hoon = YG Entertainment, which includes groups such as ‘Blackpink’ and ‘Treasure’, announced on the 5th that it had published its first sustainability report.
Reflecting the recent ESG trend, YG introduced a double materiality test. ▲Advanced ethical management and compliance system ▲Enhancement of diversity and inclusiveness ▲Reduce greenhouse gas emissions and improve energy efficiency. Three material issues were identified and included in this report. .
The biggest achievement of YG in the advancement of ethical management and compliance system is the acquisition of integrated certification for compliance management system (ISO 37301) and anti-corruption management system (ISO 37001) for the first time in the domestic entertainment industry.
In addition, the CLEAN YG campaign is underway under the theme of compliance with the Improper Solicitation and Graft Act, mitigation of ethics and compliance risks through activation of the work division structure (WBS), prevention of workplace harassment, and respect for the human rights and diversity of members. YG reported that the code of ethics was revised to be more suitable for the entertainment industry, and compliance control standards were prepared by appointing a compliance officer through the ESG Committee.
In terms of enhancing diversity and inclusion, the ‘idea IDEA framework (FRAMEWORK)’ was established, which is a strategic promotion system for DE&I (diversity, equity, and inclusion) activities.
In terms of reducing greenhouse gas emissions and managing energy efficiency, the ‘2040 Carbon Neutral Roadmap’ was set. In order to achieve carbon neutrality by 2040, the goal is to achieve company-wide RE100 by 2025 and to reduce greenhouse gas emissions by 65% compared to 2022 by establishing intermediate goals by 2030. In addition, YG Green Campaign, resource gentle campaign, eco-friendly photo studio and low-carbon diet operation, and planting events using coffee grounds as companion plants are underway.
YG co-CEOs Yang Min-seok and Hwang Bo-kyung said, “As the challenge to expand the positive influence of popular culture continues today, we will try to fulfill our role as a responsible company in 2023.”
YG’s ‘2023 Sustainability Report’ was prepared in compliance with the international guidelines for sustainability management (GRI Standards 2021) and the US Sustainability Accounting Standards Board (SASB) disclosure guidelines, and the verification procedure of the Korea Management Certification Authority (KMR) was followed. He added that reliability was ensured. An English report for communication with overseas stakeholders will also be released later.