GS Caltex to offer ESG consultation to partners, runs supply chain check

GS Caltex said Thursday it will help partner firms across its supply chain to improve business practices in accordance with environmental, social and corporate governance management principles.

According to the South Korean total energy company, about 320 partners will conduct self-examinations on their ESG capabilities and submit the results by July 9. After review, GS Caltex will provide risk management consultations.

In 2019, GS Caltex developed an ESG questionnaire and 107 partners carried out self-examinations based on the model. For this year, GS Caltex will work together with two expert institutions -- Korea Productivity Center and QuantifiedESG.

The questionnaire has 40 to 53 questions concerning four categories -- environment, human rights and labor, safety and health and ethics and business management system. The questions evaluate partners’ policy, execution and compliance regarding ESG.

“The self-examination program aims to flag and address risks involving partners and promotes coexistence,” a GS Caltex official said.

By Kim Byung-wook (kbw@heraldcorp.com)