On July 29, Samsung Electronics Board of Directors approved the reorganization of its Management Committee into a Sustainability Committee, and further expanded its functions and oversight.
The newly formed Sustainability Committee will continue the roles of the Management Committee, including fulfilling social obligations and improving the number of shares.
In addition, the Committee will address a wide range of ESG issues (Environmental, Social, and Governance), including climate change, the global economy, labor, and human rights, diversity and inclusion, procurement, and ethical management, thereby setting direction and monitoring progress forward to sustainable corporate governance.
The Sustainability Committee consists entirely of independent directors to ensure its independence. It will receive reports on key issues discussed at the Sustainability Council, which is the company’s comprehensive consultative body.
Over the years, Samsung has been strengthening its partnership management plan by introducing a Sustainability Management Office under each business unit and setting up a Business Sustainability Center to report directly to the CEO.
With the recent addition of the Sustainability Committee, the company has now integrated sustainable management from business structures to the Board of Directors.
The company is committed to further strengthening the independence and diversity of the Board of Directors, which will lead to efforts to strengthen sustainability going forward.