NAVER Releases “2023 ESG Integrated Report” Highlighting Leadership and Achievements in ESG Management
NAVER Releases “2023 ESG Integrated Report” Highlighting Leadership and Achievements in ESG Management
NAVER Releases “2023 ESG Integrated Report” Highlighting Leadership and Achievements in ESG Management
- The report captures a range of initiatives by NAVER as a leading ESG company, detailing seven strategic approaches and addressing five crucial topics
- It also includes environmental data from subsidiaries, with social contributions exceeding KRW 100 billion last year
June 25, 2024
NAVER Corporation (CEO Choi Soo-yeon) released the “2023 ESG Integrated Report,” which summarizes the company’s environmental, social, and governance (ESG) management efforts and accomplishments for 2023, along with the “Task Force on Climate-Related Financial Disclosures (TCFD) Report,” detailing its strategy for climate change response.
In the report, NAVER outlined “Seven ESG Strategies,” crafted from a comprehensive analysis of stakeholders’ needs. Additionally, the company thoroughly presented its management approach and future plans on five critical topics deemed important by both internal and external stakeholders: protecting privacy and data, improving organizational culture, managing and expanding greenhouse gas and renewable energy initiatives, enhancing cybersecurity systems, and respecting human rights and diversity.
[※Note] NAVER’s Seven ESG Strategies for 2023
▲ Amplify ESG impact with Team NAVER technology ▲ Boost information security and cultivate a safer Internet environment ▲ Foster partner collaboration and community engagement ▲ Target carbon negativity by 2040 and increase eco-friendly practices ▲ Promote employee growth and uphold human rights ▲ Ensure transparency and enhance governance ▲ Reinforce ethical leadership and risk management
Last year, NAVER cut a total of 16,809 tCO2e in greenhouse gas (GHG) emissions through various eco-friendly initiatives. Of this reduction, 4,537 tCO2e were conserved through the use of renewable energy (6,678 MWh) and digital documentation. Starting in 2023, the company also began reporting on GHG emissions data from its subsidiaries.
This year, GAK Sejong received the LEED Platinum certification, making every NAVER’s buildings, including its headquarters and data centers, meet the highest global eco-friendly standards. NAVER plans to further improve its environmental management system by increasing its use of power purchase agreements (PPAs) for renewable energy, in partnership with different institutions and startups.
NAVER also developed the “AI Safety Framework” to foster responsible artificial intelligence (AI) development and application, sharing progress in this domain. Moreover, the company is boosting its ESG values directed at users through initiatives like enhancing Internet accessibility and promoting a greener Internet. In addition, NAVER is advancing its technology-led ESG management practices in areas such as cybersecurity and privacy protection.
2023 Integrated Report by NAVER
“Project Flower,” a campaign to support the development of small and medium-sized enterprises (SMEs) and creators, is continuously expanding. With educational aid from the Connect Foundation and fundraising through Happybean, NAVER contributed KRW 1,063.3 billion to society last year, up from KRW 988.3 billion in 2022. This year’s report also explores how NAVER supports ESG management among its partner companies. Notably, NAVER remains the only Internet platform to consistently secure the top rating in the Win-Win Growth Index evaluation for seven consecutive years.
NAVER continues to work toward establishing a robust and transparent governance framework, delivering eco-friendly value through its services, enhancing personal data security, promoting human rights management, and fostering ongoing development programs for SMEs.
Furthermore, NAVER has consistently disclosed its management practices and sustainability achievements transparently, gaining accolades from both domestic and international ESG rating organizations. In 2023, leading ESG evaluators—Morgan Stanley Capital International (MSCI) and Sustainalytics—awarded NAVER with the status of “AA” and “Industry Top Rated,” respectively. The Korea Institute of Corporate Governance and Sustainability (KCGS) also upgraded NAVER to an A+ rating, while SUSTINVEST recognized the company as a leader in its semiannual corporate ESG performance review.
