Options for action in South Korea
Explore national regulatory clarification
- The government could investigate amending the National Finance Law, the enabling legislation for each of the state pension funds, and the Financial Investment Services and Capital Markets Act (FISCMA) to have public and private pension funds and investment managers take account of ESG issues.
Develop a stewardship code
- The Financial Services Commission could work with the investment industry to develop a code setting out institutional investors’ stewardship responsibilities.
Enhance corporate disclosure
- The Financial Services Commission and the Korea Exchange could work together to extend the Green Posting System requirements to cover the range of ESG issues that are of relevance to companies.
- The government and the investment industry (through industry bodies such as the Korea Sustainability Investing Forum) could work together to support high-quality academic research into ESG issues.
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Produced in collaboration with UNEP FI and Generation Foundation