Results of Double Materiality Assessment
Considering environmental, social and financial impacts, this report figures out 5 significant following issues; 2 issues of environmental area (①Strengthen the response to climate change, ②Reinforce eco-friendly, low-carbon business), 1 issue of
social area (Achieve a safe workplace), 2 issues of business area (①Develop new business, ②Ensure stable power supply).
-
Environmental and Social Impact
-
Financial Impact
| Area | Issue | Impact | Report Page | GRI Index | ||
|---|---|---|---|---|---|---|
| Environmental and Social |
Financial | |||||
| Environmental(E) | 1 |
Strengthen the response to climate change ESG Focus 2 |
High |
High |
31-33 |
305 |
2 |
Manage air pollutants stringently |
High |
Medium |
43 |
305 |
|
3 |
Reinforce eco-friendly, low-carbon business ESG Focus 1 |
High |
High |
28 |
305 |
|
4 |
Protect biodiversity and the ecosystem |
Medium |
Low |
43 |
304 |
|
5 |
Manage water use and reuse |
Low |
Low |
44 |
303 |
|
6 |
Strengthen waste management |
Medium |
Medium |
44 |
306 |
|
| Social(S) | 1 |
Reinforce HR development and management |
Low |
High |
49 |
401 |
2 |
Achieve a safe workplace ESG Focus 3 |
High |
High |
35-37 |
403 |
|
3 |
Strengthen data (digital) asset security |
High |
Medium |
64 |
- |
|
4 |
Develop the energy industry ecosystem |
Medium |
Low |
52 |
302 |
|
5 |
Pursue customer-centered management |
Low |
Low |
15 |
416 |
|
6 |
Engage in responsible supply chain management |
Medium |
Medium |
51 |
414 |
|
7 |
Prioritize human management and respect employees |
Low |
Medium |
50 |
406 |
|
| Governance(G) | 1 |
Establish sound governance and ensure transparency |
Low |
Medium |
58-59 |
2-9 |
2 |
Strengthen ethical management and anti-corruption system |
Medium |
Low |
62 |
- |
|
3 |
Establish a system forintegrated risk management |
Low |
Low |
60-61 |
- |
|
4 |
Expand stakeholder communication |
Low |
Low |
61 |
102 |
|
| Business (B) | 1 |
Develop new businesses ESG Focus 1 |
High |
High |
29 |
201 |
2 |
Ensure stable power supply ESG Focus 2 |
High |
High |
33 |
302 |
|
3 |
Create economic value |
Medium |
High |
16 |
201 |
|
4 |
Reinforce energy security |
Medium |
Medium |
14 |
302 |
|
* KEPCO has been annually conducted ‘Materiality Assessment’ to figure out significant issues that impact on company’s business.
Also by these assement, we define the major stakeholders and clarify vulnerable groups related to these issues.
In 2023, Kepco conducted ‘Double Materiality Assessment’ and figure out five major issues and stakeholders who are vulnerable to those issues.
Also by these assement, we define the major stakeholders and clarify vulnerable groups related to these issues.
In 2023, Kepco conducted ‘Double Materiality Assessment’ and figure out five major issues and stakeholders who are vulnerable to those issues.
2023 major issues / vulnerable stakeholders
- ① (E) ‘Strengthen the response to climate change’ / Vulnerable stakeholders : ‘Government and National Assembly’, ‘Shareholders and Investors’ and ‘Media/Opinion Leaders’.
- ② (E) ‘Reinforce eco-friendly, low-carbon business’ / Vulnerable stakeholders : ‘People/customers’ and ‘Local Community’.
- ③ (S) ‘Achieve a safe workplace’ / Vulnerable stakeholders : ‘Employees and Labor Unions’, ‘Subcontractors’ and ‘Subsidiaries and Related Companies’.
- ④ (B) ‘Develop new business’ / Vulnerable stakeholders : ‘Shareholders and Investors’, Subsidiaries and Related Compnanies’ and ‘Local Community’.
- ⑤ (B) ‘Ensure stable power supply’ / Vulnerable stakeholders : ‘People/Customers’, ‘Government and National Assembly’, ‘Employees and Labor Unions’, and ‘Local Community’.