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Jipyong’s ESG Center Releases Key Indicators in Social Sector and Publishes Korean Translation of WBA’s Social Benchmark Report

2025.01.24

Jipyong’s ESG Center, in partnership with the World Benchmarking Alliance (WBA), published the official Korean translation of the 2024 Social Benchmark Insight Report and 2024 Social Benchmark Evaluation Guidelines.  The WBA is a non-profit organization that develops and evaluates global sustainability standards, and it has been conducting assessments of human rights management efforts of global companies through the Corporate Human Rights Benchmark (CHRB).  In June 2024, Jipyong’s ESG Center signed an official MOU with the WBA and has been promoting projects such as the translation and publication of the major evaluation indicators and guidelines of WBA in Korea[<a href="https://www.jipyong.com/kr/board/press_view.php?seq=13071" target="_blank">link</a>].  The latest WBA Social Benchmark includes global standards not only for human rights management but also for occupational safety and health, living wages, diversity, data privacy, and anti-corruption.   
 
As supply chain due diligence regulations such as the EU’s Corporate Sustainability Due Diligence Directive (CSDDD) and ESG disclosure requirements such as the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS) evolve, companies are increasingly required to undertake sophisticated sustainability evaluations and risk response strategies.  The official Korean translation of the 2024 Social Benchmark Insights Report and the 2024 Social Benchmark Scoring Guidelines will serve as valuable references to resolve ambiguities in the social sector and identify specific international norms and requirements.  Jipyong’s ESG Center will continue to work in partnership with the WBA to support Korean companies in responding to supply chain due diligence and ESG disclosure requirements.

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	<li>2024 Social Benchmark Insights Report (<a href="https://www.jipyong.com/origin/newsletter_alert/250124/1_SB_2024_Insights_Report_Korean.pdf" target="_blank">Download</a>) (<a href="https://www.worldbenchmarkingalliance.org/research/2024-social-benchmark-insights-report/" target="_blank">Link to Original</a>) 
	 
	The 2024 Social Benchmark Insights Report is a key report through which the WBA evaluated social sustainability performances of leading global companies.  The report analyzed how 2,000 major companies worldwide—including several Korean firms—have addressed key social issues.  It presents the WBA’s comprehensive assessment of both performance outcomes and implementation levels, based on extensive data collected and reviewed across industries and regions.   
	 
	The report analyzed the relationship between key ESG issues and corporate social sustainability strategies, including △ human rights due diligence (HRDD), △ protection of labor rights, △ payment of living wages, △ tax transparency, △ anti-corruption policies, and △ responsible lobbying practices, and provides concrete guidance necessary for companies to establish practical ESG strategies.   
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	<li>2024 Social Benchmark Scoring Guidelines (<a href="https://www.jipyong.com/origin/newsletter_alert/250124/2_WBA_Social_Benchmark_Scoring_Guidelines_2024_Korean.pdf" target="_blank">Download</a>) (<a href="https://www.worldbenchmarkingalliance.org/research/2024-social-benchmark-scoring-guidelines/" target="_blank">Link to Original</a>) 
	 
	The 2024 Social Benchmark Scoring Guidelines is a document that outlines the standards and methodologies designed to objectively evaluate the social sector of sustainability management.  Given its nature, the social sector is difficult to be quantitatively evaluated and tends to be subject to different standards across industries and regions.  In response, the WBA has developed a methodology to systematically evaluate the social sustainability performance of 2,000 major global companies based on 18 Core Social Indicators (CSI).   
	 
	In particular, this guideline established an evaluation system based on the international standards such as △ the United Nations Guiding Principles on Business and Human Rights (UNGPs), △ the standards and core conventions of the International Labor Organization (ILO), and △ the OECD Guidelines for Multinational Enterprises, and further refined the evaluation standards by reflecting the content of global industry initiatives by industry, such as △ the Responsible Business Alliance (RBA) and △ the Ethical Trade Initiative (ETI).  </li>
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