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LX Pantos Encourages ESG Management in its Supply Chain
As ESG (Environmental, Social, and Governance) regulations in supply chain management become increasingly formalized in major markets such as the United States and the European Union, and as global corporations strengthen their supply chain due diligence requirements, managing supply chain ESG has emerged as a critical aspect of corporate risk mitigation and competitiveness.
In response to these trends, LX Pantos (CEO: Lee Yong-ho) is accelerating the establishment of its supply chain ESG management framework to minimize both financial and non-financial risks stemming from regulatory requirements and stakeholder demand on due diligence.
Given its extensive network of partnerships across the global supply chain, which spans international and domestic transportation, warehouse management, home appliance installation, and procurement of general services and materials, LX Pantos is actively implementing initiatives to strengthen ESG practices among its partners and promote shared growth.
Having recognized early on the pivotal role of robust partnerships and supply chain integrity in achieving corporate competitiveness, LX Pantos has introduced and is enforcing its Supplier ESG Code of Conduct. This code is distributed to domestic and international partners, encouraging their active participation in ESG policies and enhancing ESG management capabilities throughout the supply chain.
To support small and medium-sized suppliers, LX Pantos offers ESG training and management manuals to address gaps in ESG policies and processes. Annual online and offline training sessions highlight the importance of human rights and labor compliance, urging suppliers to adhere to these standards. For new suppliers, LX Pantos provides guidelines for safety and health management, ensuring workplace stability in these areas.
Additionally, LX Pantos conducts annual self-check for suppliers to enable them to evaluate their own ESG risks and establish improvement plans. For high-risk suppliers identified through these self-assessments, on-site audits are conducted to verify the results and address deficiencies. Continuous monitoring ensures that recommended improvements are implemented in a timely and effective manner.
The company is also committed to fostering open communication and providing tailored ESG consulting support. Regular supplier meetings create a platform for dialogue, while dedicated phone and online channels facilitate real-time responses to ESG-related inquiries and challenges.
To further motivate suppliers to adopt sustainable management practices, LX Pantos is enhancing its incentive programs for outstanding suppliers. For instance, 10 home appliance installation partners who excelled in ESG evaluations were awarded financial rewards. The program is set to expand to include additional sectors, such as warehouse management and transportation, benefiting more small and medium-sized domestic suppliers.
Maeng Yun-ju, Business Support Office manager at LX Pantos, stated, “By managing ESG risks within our supply chain, we are striving to build a stable and sustainable network. At the same time, we aim to foster mutual growth and achieve shared success through effective and trust-based support for our partners.”
[Photo] The award ceremony for LX Pantos’ top 10 ESG-performing
home appliance installation partners was held on December 16, 2024.