Government Employees Pension Service: "Urges Major Listed Companies to Strengthen Climate Disclosures"
Investor letter sent to 163 major companies
Mandatory sustainability disclosures in 2028
Climate risks, emissions reduction targets, financial impacts, etc.
Calls for broader disclosure of key investment information
With the sustainability disclosure system set to take full effect in 2028, the Government Employees Pension Service has sent an investor letter to 163 major domestic listed companies urging them to strengthen their climate disclosures.
On October 16, an official from the Service said, "The letter calls for expanding the disclosure of information on climate-related risks and opportunities at companies in which we invest, and for using that information in investment analysis and stewardship activities."
After the Financial Services Commission announced plans to institutionalize sustainability disclosures in July 2026, climate-related disclosures are set to become mandatory in phases starting in 2027, beginning with KOSPI-listed companies with consolidated total assets of at least 10 trillion won.
The Service's key requests include establishing a climate disclosure framework based on the Korea Sustainability Standards Board (KSSB) standards and providing comprehensive information investors need to assess companies' climate risks and responses, including greenhouse gas reduction targets and performance, as well as the financial impacts of climate change on companies.
The Service uses climate-related factors in its ESG (environmental, social and governance) assessments and investment analysis. As climate disclosures expand, it plans to assess each company's climate risks and responses more systematically and use the findings in investment decisions. It also plans to continue monitoring how companies respond to climate-related risks and opportunities and, where necessary, link this work to stewardship activities, including engagement with companies.
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Government Employees Pension Service Chairman Kim Woo-ho said, "Climate disclosure is important investment information for assessing companies' sustainable growth and long-term corporate value. We will expand the use of climate information in investment and communicate with companies to contribute to the fund's long-term returns and the sustainable growth of the capital market."
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