- Decision from the board meeting to establish the ESG committee that consists of at least three directors
- For the review of ESG policies and issues and the supervision of an internal transaction
LX International determines to establish the ESG committee to further promote the ESG business and secure the transparency of corporate management.
On July 29, LX International held a board meeting and agreed to establish the ESG committee.
As part of the plan to enhance corporate governance, the establishment of the ESG committee will accurately prepare the ESG businesses regarding environment, social, and governance while strengthening the internal control of the internal transaction to realize the long-term and sustainable growth of the company.
The committee must consist of at least three board members, more than two thirds of the members must be outside directors. The chairperson is selected through the resolution of the committee.
The ESG committee will review the major policies and issues of each business area of ESG and supervise and review the internal transactions of LX International.
Last year, LX International already inaugurated the ESG council to promote the ESG business. The ESG council is an in-house committee that performs decision-making regarding the major ESG issues of the company. Also, the ESG council organized the ESG TFT to assist with the general works of the company including the notification of the council convocation, the preparation of the itinerary and minutes, and the follow-up management of the item, along with supporting the overall management.
According to LX International, the objective of the ESG committee is to improve the transparency and propriety of the internal transactions and the realization of the ESG business which has recently become a trend, and the committee will shortly be installed with the supporting organizations to commence with the relevant businesses within this year.