[Consumerwide - Hayoung Chang Reporter/Yohan Bok Reporter]  Businesses, including Coway and Kolon Industry, published their mid-long-term plan reports regarding ESG while also developing climate risk management software.

Coway is developing universal software that can analyse and manage the climate risk of scope 3 level in corporation with K-Weather, a weather big data platform business, while also participating in the XaaS lead project, which is organised by the Ministry of Science, Technology, and ICT and the National IT Industry Promotion Agency. This is a part of the overall industry of digital service businesses aiming to improve the technology development sector of domestic businesses regarding ESG climate risk analysis and management. In particular, Coway is developing universial software aiming to analyse and manage climate risk at the scope 3 level by applying the frontier 1.5D, which is a climate risk management model that was developed by 12 large companies in domestic areas, the Financial Supervisory Service, Ehwa University, and British Embassador, based on SaaS (Software as a Service). Coway said, "We look forward to actively engaging with ESG management based on the analysis of business risk, referring to the economy, policy, and climate scenarios." Furthermore, Coways plans a variety of ESG activities for the future generation. Meanwhile, Kolon Industry has published their 2023 sustainable management report, which contains their mid-long-term plans that include constructing systems in response to climate change and internalisation, the ESG management effort and performance in the area of carbon reduction, and safety and health management last year.

Kolon Industry has reduced green house gas emissions by 10% compared to a year prior by using steam waste for the manufacturing process and using biogas (instead of combustion fuel) based on the transaction statement, and this year they plan to proceed with the carbon neutralisation roadmap in each scope stage according to their target green gas emission reduction in line with the SBTi guideline (global initiative) based on the carbon neutralisation scheme by 2047. Besides, they are newly facilitating the ESG management centre under the CEO while adopting the TBM (Tool Box Meeting) system, aiming to spread a safe communication culture in the overall facilities of the company.

*TBM: a briefing of safety measures to supervisors, workers, and the safety team held every morning before commencing their respective duties. 

Kim Yeongbeom, the CEO, said, "We've been trying in overall business sectors to make a slid foundation for sustainable growth, and we will continually practice our fundamental values that we many stand firm as a business, which customers can trust."