The focus of businesses has recently shifted from attaining short-term profit towards growing into a sustainable and respected company. The announcement by eminent institutions from within and out of the country that companies that diligently strive to enhance their sustainability generate better results than those who do not has rendered support to the recent trend, and companies throughout the world are aggressively moving towards the implementation of sustainability management in their practices.
Against this backdrop, the Institute for Industrial Policy Studies (IPS) has launched the Grand Award for Excellence in Sustainability Management to select and award companies that have achieved excellence in sustainability management with the aim of boosting the morale of and encouraging the introduction of sustainability management in businesses.
Sustainability Management
Is a business practice that not only considers the financial performance of a company, but also the impact the activities of a company has on the society and environment, thereby growing into a sustainable company in the future.
- Hosted by : Seoul School of Integrated Sciences and Technologies (aSSIST)
- Organized by : Korea Research Institute for Measurement and Assessment (KRIMA)
- Sponsored by : Donga Daily, IPS, Green Fund, IBS Consulting Company, IDS & Associates
- Categories of awards : Private Corporation Category and Public ˇ¤ Non-profit Institution Category
- Eligibility
- Institutions that publish and publicly announce sustainability reports (CSR Report) and environment reports
- Institutions that have applied for the award and that have submitted an achievement record that is equivalent to sustainability report
- Categories of evaluation
- Institutions are first classified into private or public and non-profit institutions
- Institutions are evaluated for and awarded in each of the four categories: ethics ˇ¤ CSR management, environmental management, innovation management and creation management. The results of the four categories are consolidated and the institution that has scored the highest is presented with the Grand Award for Excellence in Sustainability Management.
| Category |
Target |
| Grand award |
Grand Award for Excellence in Sustainability Management |
1 company |
| Category-specific |
Ethics ˇ¤ CSR Management Award |
1 institution per category |
| Environment Management Award |
| Innovation Management Award |
| Creative Management Award |
* Only institutions that satisfy the four categories of sustainability management - ethics¤ýCSR management, environment management, innovation management and creativity management - and that rank at the top in more than 3 categories are eligible for the Grand Award for Excellence in Sustainability Management.
* The institution that has been selected for the Grand Award for Excellence in Sustainability Management is excluded from category-specific awards.
Structured and integrated analysis using B.E.S.T Sustainability Reporting Guidelines (BSR)
Structured and integrated analysis using B.E.S.T Sustainability Reporting Guidelines (BSR)
BSR Model developed by the B.E.S.T Forum* classifies sustainability management into ethics ˇ¤ CSR management, environment management, innovation management and creativity management and identifies both the cause and results of sustainability management using ser-M** Model enabling a structured and comprehensive analysis of sustainability management.
Transparent and professional evaluation A review committee comprised of experts in academia and groups related to sustainability management conduct a fair and rigorous evaluation based on externally disclosed criteria.
* B.E.S.T Forum: Business Ethics is the Source of Top performance: a multi-stakeholder forum established with the charter to expand ethics management and to spearhead a culture of ethical practice in Korea. IPS serves as the secretariat
** ser-M Model: A model that comprehensively analyzes subject (S), environment (E), resources (R), and mechanism (M). More specifically, ser-M Model is a series of events that form a Mechanism (M) in which a Subject (s) sets goals by considering the environment (e) and resources (r), and allocates resources and changes the environment. The explanation of the process enables a logical management of information.
aSSIST, established with the aim of nurturing talents with global competitiveness, comprises the Board of Advisors consisting of eminent scholars from countries throughout the world, as well as an outstanding faculty including former and current leaders in domestic and international corporations, and provides a practical education through MBA in Governance Leadership, MBA in Financial Engineering and Advanced Management Program.