KaKao

- Highlights main activities and achievements in 2023 related to the environment, community, and governance

- Executed various ESG activities on Kakao’s five core ESG areas, which are technology for people, solving social issues, creating a trusted Kakao, growing together for tomorrow and efforts for the Earth

 

[June 10, 2024] Kakao (CEO, Shina Chung) announced on June 10 that the company published the ESG Report “2023, Kakao’s Commitment and Responsibility”, which details Kakao’s main performance in environment, community, and governance structure in 2023.

 

Kakao has published an annual report that highlights their many ESG activities since 2021, and has continued to make it a tradition by publishing their fourth annual report this year. The ESG Report is published on the Kakao Corporate website and the Financial Supervisory Service’s DART (Data Analysis, Retrieval and Transfer).

 

The 2023 report consists of an ▲ Introduction of Kakao, the ▲ESG Framework and Implementation of Key Areas, ▲ Sustainable Management Performance in the Environment, Community and Governance Areas, and ▲ ESG Data. The report especially focuses on Kakao’s ESG activities on their five core ESG areas, which are technology for people, solving social issues, creating a trusted Kakao, growing together for tomorrow and efforts for the Earth.

 

The environmental section of the report introduces Kakao’s numerous eco-friendly activities executed in response to the climate crisis. In order to achieve their goal of 2040 Net Zero, which is to eliminate their net greenhouse gas emission by 2040, Kakao increased their use of reusable energy and built an eco-friendly data center. Kakao’s Jeju office has expanded its use of wind power energy that is produced in the Jeju region, and their Pangyo office is procuring solar power energy, doubling their use of renewable energy compared to 2022. Kakao Data Cetner Ansan, which was completed in September 2023, received a Grade 1 in the Building Energy Efficiency Rating Certification System in recognition of efforts to reduce energy consumption by implementing eco-friendly solutions that efficiency uses energy and resources.

 

Additionally, in order to strengthen eco-friendly e-commerce, Kakao received the Global Recycled Standard (GRS), the international eco-friendly recycle standard granted to products that use recycled material, and will actively use recycled material in products developed by Kakao Makers and Kakao Friends. Kakao Maker is also recirculating resources with its Upcycle Project, which breathes new life into old products.

 

The community section of the report contains Kakao’s actions to promote co-existence between small business owners and stakeholders, as well as the company’s contributions to various social sectors. Kakao implemented the Our Local Market Project, which received the 2023 Presidential Award for supporting small business owners by utilizing Kakao services to digitize traditional markets. Kakao Maker’s Jegaburch Project, which provides support so that South Korea's overproduced agricultural, livestock, fishery products and processed foods are sold at a fair price, reached cumulative sales of 30 billion KRW. Kakao Together runs a donation fund during times of disaster, and collected 4.7 billion KRW in recovery funds from 1.27 million donors during the Turkish earthquake.

 

Kakao also publishes the Kakao Reliability Report to provide users and partners with reliable services, and became the first South Korean IT company to publish a diversity report as part of the company's effort to embrace the values of diversity and promote it throughout society.

 

Kakao has also reinforced their efforts for reform in order to implement corporate social responsibility. The Compliance and Trust Committee was established for a healthy corporate culture and ethical management, and a system to promote sustainable management and co-existence is also being implemented.

 

Kakao’s efforts for sustainability are being recognized by various domestic and international assessments. Kakao was rated in the top 1% in S&P Global ESG Score for the second consecutive year, making it the only company in its industry to receive that score, and was included in the Dow Jones Sustainability Indices (DJSI) World for the third consecutive year. Kakao’s active efforts to tackle climate change awarded Kakao with the Leadership A rating by the international environment agency Carbon Disclosure Project (CDP) Climate Change.

 

Kwon Dae-yeol, chairperson of Kakao CA Council’s ESG Committee, said that Kakao is "striving to lay a foundation for sustainable growth in various fields” and added that “we will continue to reinforce ESG management, to gain trust from users and various stakeholders and enjoy joint growth." (End)

 

[Reference]

ESG Report : https://www.kakaocorp.com/page/responsible/esg