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ESG Governance

LOTTE Shopping conducted materiality assessment to select key issues for ESG engagement.
Materiality assessment was conducted by analyzing common interest of various stakeholders and
issues with impact on the business of LOTTE Shopping based on GRI Standards,
a global guideline for preparing sustainability report, ISO 26000, a standard for
corporate social responsibility and UN sustainable development goals (SDGs) and issue pools and major issues were identified.

Materiality Assessment Process

  • Step1
    Identification and Pooling of ESG Issues
    · Based on international initiatives and guidelines, ESG indicator evaluations, and analyses of global leading companies and industry peers, a pool of 63 potential issues was created.
    · A final pool of 29 issues was derived through an analysis of the previous year's management issues and industry-specific issues, and internal feedback.
  • Step2
    Evaluation of Issue Importance
    · [Financial Impact Analysis] Analysis of finance-related international recommendations, ESG evaluation indicators, and industry-specific indicators from an investment perspective (DJSI, MSCI, Sustainalytics, KCGS, SASB, etc.)
    · [Environmental and Social Impact Analysis] Analysis of international initiatives and guidelines related to ESG disclosures, and industry-specific indicators from an ESG perspective (GRI Standards, ISO 26000, UN SDGs, ESRS)
    · Analysis of ESG issues and trends in similar industries / Media analysis / Stakeholder Survey
  • Step3
    Selection and Impact Analysis of Key Issues
    · Quantifying the environmental and social impact and the financial impact of each issue to select the final eight key issues.
  • Step4
    Review by the Highest Decision-Making Body
    · Reporting and approval of the management system, key performances, mid- to long-term plans, and targets for key issues

Materiality Assessment Result

  Issue Name Change from 2022 GRI Topic
1 Climate Change Response - 201-2, 302-1~4, 305-1~5
2 Circular Economy and Sustainable Packaging - 306-1~5
3 Expansion of Eco-Friendly Products and Services New -
4 Talent Retention and Empowerment New 401-1, 404-1~3
5 Governance Transparency, Integrity, and Diversity New 405-1
6 Ensuring a Quality Labor Environment - 401-2~3
7 Integrated Risk Management - -
8 Diversity and Anti-discrimination New 405-1~2, 406-1