In a recent important meeting, the Korean financial regulator said it will only require local firms to disclose their investments and business activities related to climate issues, a move aimed at minimizing additional burdens that will be placed on companies following the implementation of new environmental, social and governance (ESG) disclosure requirements.
Kim So-young, vice chairman of the Financial Services Commission (FSC), stressed that new standards for ESG disclosures will be in line with global standards.
