The year 2021 was characterized by heightened market uncertainties amid the protracted COVID-19 pandemic, and the increased focus on businesses when it comes the social role and responsibilities they carry in line with the enforcement of the Serious Accidents Punishment Act and the Framework Act on Carbon Neutrality. Furthermore, ESG management has become ever more critical as the paradigm has shifted from shareholder capitalism to stakeholder capitalism, and ESG investing practices have been more widely adopted. Not only has SK D&D generated the greatest-ever business performance in responding to the shifts in the business landscape, but it has also reached new heights in advancing ESG management through fully committing to it and establishing an ESG management system. It is with great pride that we present our first sustainability report to outline our achievements for the past year and share SK D&D’s ESG story with all our stakeholders.
SK D&D will put stakeholder happiness before all else, and serve as a trusted partner for property development and living solutions for sustainable urban lifestyles.
As a full-service developer providing everything from development and operation to asset management in the property and renewable energy sectors, SK D&D continues to expand through business model innovation and management system upgrades. To ensure stable long-term growth, we have transitioned from the conventional ‘build & sell’ model to develop our capabilities for REITs AMC (Asset Management Company) and property management to increase our profit through long-term asset deployment. We are taking one step further to broaden our business territory as an urban lifestyle solution provider and as a digital developer operating data-enabled business models. In the renewable energy sector, we are building solutions and operational capabilities required to emerge as a VPP (Virtual Power Plant) business on the strength of our solar power, wind power, fuel cell and ESS business and future-driven distributed power generation. The sum of such endeavors enabled us to set a new record in business performance in 2021 and will drive our efforts to build a robust foundation to forge ahead.
Responsibilities for our Planet, Society and Stakeholders.
The 2020 Global Status Report for Buildings and Construction from the UN Environmental Programme (UNEP) revealed that GHG emissions from buildings account for nearly 38% of the global GHG emissions. SK D&D remains committed to delivering eco-friendly buildings to help minimize the GHG emissions that stem from property development. We aim to contribute to energy conservation and the mitigation of environmental pollution throughout the entire lifecycle of property development - from design and construction to maintenance and management, and expand the development and generation of renewable energy to join in the effort to combat the climate crisis.
SK D&D’s business operations are guided by SK’s management philosophy to push beyond the mere generation of economic profits to simultaneously pursue both economic and social values across all aspects of its operations. We promote fair transactions to serve the interest of stakeholders and pursue win-win partnerships with business partners while creating a safe and healthy workplace and continuously expanding CSR initiatives. Internally, we promote a horizontal work environment, offer employee growth programs, and work to create a professional yet compassionate workplace where each individual can thrive.
SK D&D advances Board-driven management where the Board of Directors fulfills strengthened roles and mandates. Our directors are appointed for their varying backgrounds and expertise to increase the ratio of outside directors to 50%, and the Board Chair is appointed among outside directors to separate the CEO and Chair roles and ensure the independence of the Board in so doing. Our Board performs self-directed assessments to make necessary improvements and we aim to pursue innovation at the Board level to establish Board-centered management.
Dear Respected Stakeholders,
We look forward to your unwavering interest in and encouragement for SK D&D, and we vow to meet your expectations for ESG management and seek shared growth with all our stakeholders. Thank you.