A materiality evaluation was conducted to identify the concerns of internal and external stakeholders and factors that could affect management activities to derive material issues affecting management.
CJ Freshway is deriving the direction for ESG management by collecting the opinions of stakeholders. In the 2022 materiality assessment, a final pool of 17 issues was selected based on important ESG evaluations such as GRI Standards, SASB, MSCI, and KCGS, guidelines and media analysis, peer group review, etc.
STEP 1 ESG issue identification and pool configuration
STEP 2 Materiality assessment
STEP 3Derive prioritization
As a result of the materiality assessment, food safety was selected as the most important issue with health management, sustainable product development, human rights management, ESG management, etc. selected as major issues. CJ Freshway is continuously improving the insufficient areas among the selected issues to become a company that contributes to customers and society through assignments by the department in charge.
CJ Freshway transparently discloses four major TCFD items-- climate-related governance, strategy, risk management, measurement indicator & hidden goal--focusing on risks that may affect its business model in line with the global climate change response flow.
Recognizing the importance of the management role for prompt and accurate decision making in response to climate change, CJ Freshway established the ESG Committee in December 2021 and built a governance system to manage performance and improvement measures for sustainable management. In addition, we are raising interest in and awareness of participation in environmental management including climate change through internal and external communication. Going forward, the ESG Committee will implement major climate change-related agendas with the goal of being carbon-negative and continue to manage and supervise environmental issues through the Customer Quality Safety Center, an organization responsible for environmental safety management. We will also continue to monitor the environmental management system ISO14001 certification renewal and performance.
CJ Freshway will review risks and opportunities due to climate change for each business structure through systematic analysis and establish and manage subdivided environmental policy and strategy as well as short-term, medium-term, and long-term goals. In the short term, we are preparing to revise our existing environmental management guidelines, and we will manage the business and financial impacts of climate change on the company by identifying risks and opportunities related to climate change through the establishment of eco-friendly logistics system and resource circulation system in the future.
CJ Freshway monitors greenhouse gas emission and energy consumption within its business sites. Based on this, we plan to build a greenhouse gas inventory to respond to climate change risk by managing emission source and emission and to include them in our integrated risk management scope and reflect them to our business activities.
In order to measure and manage risks and opportunities related to climate change, CJ Freshway plans to expand the disclosure of various indicators to respond to climate change such as greenhouse gas emission and energy consumption and strengthen data management. In addition, we plan to establish a climate change response strategy to set and implement the goal of reducing greenhouse gas emission compared to the projected greenhouse gas emission (BAU).
We carry out various activities according to the three ESG strategic directions.
CJ Freshway introduced the electric truck for the first time in the industry in 2021. Electric trucks not only reduce carbon emission but are also safer, more economical, and more efficient than diesel vehicles. In order to reduce carbon emission in the future, we plan to expand and apply electric trucks continuously to the nationwide logistics network and build a sustainable logistics infrastructure.
CJ Freshway is taking the lead in creating a sustainable distribution environment by establishing a resource circulation system that circulates various resources used in the distribution process. In addition, we strive to expand additional positive influences such as job creation for the elderly, development of educational contents for children, and development of upcycling products in the process of recycling resources.
CJ Freshway provides a variety of products and services so that society can enjoy a healthy food culture. We introduce eco-friendly packaging materials and biodegradable straws and provide low-carbon vegan menus to food (meal) channels such as school, office, and leisure area. In addition, we strive to improve the health and nutrition of the underprivileged through collaboration with WFP and CSR program for each life cycle.
(Source : KOREA INSTITUTE OF CORPORATE GOVERNANCE AND SUSTAINABILITY)