Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…] The mid- and long-term plan of KEPCO KPS includes engagement with governmental policy makers, supply chain, customers, etc. Management goals including GHG reduction strategy covers strategies and investment in relation to major climate changes. Short-, mid- & long-term business strategy and mid- & long-term investment plan coping with climate changes are granted to CEO in accordance with in-house company regulations (job authority).
In KEPCO KPS, CEO and all the Vice Presidents are given the role of managing and supervising climate change issues in the board of directors. CEO oversees general management such as the establishment of the mid- and long-term strategic management plan responding to climate changes, related investment plan, etc. Senior Vice President of Business Management Div. supervises environmental management including GHG reduction, investment decision. Senior Vice President of Mutual Growth & Innovation Div. oversees asset investment for GHG reduction. Senior Vice President of Power Generation Business & Safety Div. oversees emergency and safety management to deal with climate risks. Senior Vice President of Nuclear Power Business Div manages overall hydro power businesses. Senior Vice President of Green Growth Business Div. oversees retrofit, wind power business and fuel cell business.
Material risks and related response plan need to be reported to the board of directors in accordance with the board regulations. In addition, Business Risk Review Committee and Financial Risk Management Commission are in operation to manage risks including climate risks.
Furthermore, ESG committee was established within the board of directors and takes a role in ESG related management direction verification, action plan establishment, performance management, etc.
Senior vice presidents of each division attend weekly meetings hosted by CEO and report the concerned trends such as power demand and effect linked with climate change trend, related regulations, renewable energy business opportunity, etc. These activities are reflected into short- and mid- and long-term plan and investment considering risk impacts and new businesses feasibility.