CSR Strategy and Framework

CSR Operation System Upgrade

Today’s business paradigm incorporates corporate social responsibility as a key element of business. Accordingly, Samsung C&T has established a long-term roadmap to gradually upgrade its CSR operation system.

To this end, in October 2019, the company prepared reported plans for upgrading its CSR operation system to the Board of Directors, and later in February 2020, reported the 2020 CSR Plan with specific implementation items to the Governance Committee. In the second half of 2020, the company will re-establish its CSR execution system to reflect long-term plans for key areas such as labor/human rights, safety/environment, and co-prosperity.

Overhaul of consolidated CSR management system

Samsung C&T operates a system for consolidated management of non-financial performance. It recently reshuffled its CSR organizations and their roles/responsibilities—designating a corporate-level organization to manage the six key non-financial areas (labor/human rights, safety/environment, co-prosperity, compliance, information security, and social contribution) and organizations at each of the four business groups to oversee their respective CSR activities—to strengthen consolidated reporting and goal management across the entire company, all the way from the front lines of business to the Board of Directors.
The company also established processes for managing long-term and annual CSR performance to enable non-financial strategies and tasks to be reflected when establishing business strategy and management plans. This allows financial and non-financial performance to be managed as a whole, and for improvements to be sought with both areas in consideration.

Increased monitoring of non-financial performance

In February 2020, Samsung C&T merged its existing Governance and CSR committees and strengthened its role and status as a Board committee. The reorganized Governance Committee will regularly review the status of non-financial operations, with focus on long-terms strategy, risk management, etc.
In addition, the company plans to gather the opinions of a wide range of stakeholders and enhance the board’s non-financial expertise through operation of an external advisory board consisting of experts in each of the non-financial areas.

Strengthened internal/external communication

As stakeholders demand the disclosure of more information on non-financial performance, Samsung C&T continues to increase communication through a wide range of channels including the CSR Report and company website. Internally, the company exerts efforts to raise CSR awareness among employees through company broadcasts and training sessions.

Execution plan for six key non-financial areas

Samsung C&T designates six key non-financial areas for CSR for which it also establishes and executes the strategic directions and key tasks. In addition, the company’s four business groups each manage risks and seek business opportunities in their own select areas closely related to their core businesses.