Sustainbility Management Strategy
It is CJ CheilJedang’s goal to become a global company that survives into the future. To achieve this, CJ CheilJedang pursues two core values, health and safety, and sustainable environment, across the purchase of raw materials, production, consumption, and disposal. Therefore, we aim to achieve the virtuous cycle of Nature to Nature in which we obtain resources from nature, provide food to consumers, and return the resources to nature.
Key strategic tasks
The key strategic tasks are linked to our core values, Sustainable environment, Health and Safety. We selected tasks as follows, based on their external priority and impact on business.
Corporate Sustainability Governance
We established Corporate Sustainability governance to secure our ability to implement consistent and comprehensive sustainability management and preemptive risk management. In this way, we aim to facilitate timely ESG- related decision-making. For this reason, we established the Corporate Sustainability Committee under the Board of Directors, the highest decision-making body of the company. Meanwhile, we also established the Corporate Sustainability Council (chaired by the CEO), the Sustainability Team, and the ESG agenda-based council.
Preemptive Risk Management
Establishment of the ‘Compliance Management System (CMS 2.0)’
CJ CheilJedang established its CMS (Compliance Management System) 2.0 to forecast risks and take effective measures against them. To enhance existing compliance management, the new system identifies and categorizes potential risks that may occur in each organization. It establishes control measures for each risk and clarifies the R&R of the department in charge (designing, managing, and supervising essential control activities for each risk) and the lead department (conducting activities according to the design of the department in charge) so that the Compliance Team can act as the company-wide risk control tower to organically manage risk across the lead departments, departments in charge, as well as the Board of Directors and its committees.
Establishment of a Global Compliance Communication Process
By re-establishing a global communication process among our overseas subsidiaries, regional divisions·headquarters, and domestic headquarters, CJ CheilJedang is building a practical work-sharing and cooperative system between legal and compliance officers to strengthen its global risk management.
Risk Response Division
CJ CheilJedang takes a three-step approach to potential risks in 16 categories, covering the environment (including climate change), industrial safety, quality, and processes, according to severity. We operate a company-wide risk management system to swiftly report and take countermeasures, within 24 hours, through the Risk Response Division whenever a risk is determined to be a major risk. In addition, we utilize an integrated risk management process to prevent any potential confusion or delays that may arise from a risk occurrence, initial recognition of the risk, or response measures.
Management of Potential Risks
CJ CheilJedang not only identifies potential financial and non-financial risks related to current management activities but also defines potential risks that could have a major impact on its business in the future. Based on these definitions, we identify potential risks across all our business sites, and our Management Team thoroughly analyzes them and takes appropriate measures to minimize their impact.