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| Image captured from Kakao Pay's official website / Courtesy of Kakao Pay |
By Anna J. Park
Aiming to accelerate efforts toward sustainable management, Kakao Pay is launching an ESG preparation committee.
According to the fintech firm, Tuesday, the CEO-controlled decision-making body will have 10 members ― two independent directors and eight executives of the firm. It will become an official structure within the company board once it earns approval at a shareholders' meeting next year.
The committee will include an ESG secretariat and a working-level consultative body. It will carry out various policies and directions regarding the firm's implementation of ESG-centered growth strategies and monitoring efforts.
Through the active operation of the committee, Kakao Pay plans to implement a balanced management strategy putting a priority on sustainable growth.
"Kakao Pay will focus on establishing systemic ESG management practices, with the launch of the ESG preparation committee," the firm's CEO Shin Won-keun said. "The company will strive for sustainable growth through proactive communication and by embracing what society asks of us."
The digital payment company also plans to issue an annual management report on sustainable growth, as part of efforts to strengthen communication with shareholders, investors and customers.
It also plans to actively participate in Kakao's group-wide efforts, such as a barrier-free initiative aiming at strengthening digital access and an active green initiative to cope with climate change through net-zero policies.
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