Supporting forward-thinking brands to put sustainability and social impact work at the forefront
WHY CSR & ESG?
CUSTOMERS ARE DEMANDING
CSR (Corporate Social Responsibility) & ESG (Environmental, Social, and Governance) have become key terms in business not only globally but also in Korea. Beyond just investors, customers are voicing the need for brands to be responsible for the environment and society.
CSR & ESG TRENDS GROW GLOBALLY
Globally, CSR and ESG demands have been growing significantly in the past year. It can be seen that the market focus has shifted towards sustainability, as 77% of consumers are motivated to purchase from companies committed to making the world a better place (Aflac, 2021).
‘MEANING OUT’ HAS RISEN
In Korea, “meaning out” has risen as a trend word, which indicates that customers are focused on purpose and are willing to purchase from brands that make an impact (Hankyung, 2022). Furthermore, 83.3% of the MZ generation answered that they would pay more for sustainable products (Open Survey, 2022).
WHAT ARE KOREAN CUSTOMERS SAYING?
In a survey conducted by Asiance in 2023, Korean customers were asked about their purchase behaviors regarding sustainability and impact.
Question: On a daily basis, how high is your interest in sustainability?
Question: How much will your willingness to purchase increase if luxury brands used sustainable materials and manufacturing processes?
ASIANCE SERVICES ARE HERE TO HELP
Due to increased market demand and the lack of support for brands to engage in CSR and ESG activities, the “Introduction to CSR & ESG” workshop and report services aim to educate brands in the first steps of understanding CSR and ESG in Korea.
HOW WILL I BENEFIT FROM THE SERVICES?
CONCEPTS THAT WILL BE COVERED: The following concepts will be provided in whichever service type you choose:
- What is CSR & ESG? CSR & ESG are terms that are used interchangeably, but are they the same? We unpack the differences, similarities, drivers, and short- & long-term results of the two concepts.
- Why should I do CSR & ESG? Some brands are heavily invested in CSR & ESG, while others have kept to the same business model. So why should you do CSR & ESG? We go through the importance of doing CSR & ESG, covering different points of view (e.g. investors, customers, employees, etc.).
- What are the government laws & regulations? Learn the current status of government laws & regulations on CSR & ESG, and find out what is mandatory and optional. Know how to prepare for the coming years.
- What are the challenges of CSR & ESG? If implementing CSR & ESG were so easy, all brands would be doing it now. So what are the actual challenges when it comes to implementing CSR & ESG?
- What are the global & local statuses and trends? Get an overview of the global & local statuses and trends regarding CSR & ESG. What are the trends to implement as a brand? What is the current outlook globally and locally?
- How do I do CSR & ESG? So once you know the concepts of CSR & ESG, you may ask yourself, “Now what?” Learn with us as we talk through the different ratings, report types, and campaigns you can do to implement CSR & ESG into your brand’s business model.
WHAT ARE THE SERVICE TYPES?
FOR WHOM
- You want to understand the basics of CSR & ESG (e.g., standards, ratings, regulations, etc.)
- You don’t know where to start when it comes to implementing CSR & ESG
- You want to equip and empower your team to integrate sustainability and social impact into the brand’s business model
NEXT STEPS
Once you have educated yourself on the basics of CSR & ESG, you may ask, “Then how and where can I get started?” There are a variety of angles of entry and you may still feel lost. No need to worry as Asiance provides various services that will guide you through the next steps.
Asiance has 18 years of knowledge and experience in Korea, bringing the best, up-to-date insights and expertise in the digital marketing sector. We know the ins and outs when it comes to integrating emerging trends and requirements into your business model.
Check out our various consulting services or reach out at insight@asiance.com if you have specific needs or questions.
If you are interested in the Introduction to CSR & ESG workshop and/or report, or would like a different insight report, please don’t hesitate to contact our team at insight@asiance.com or visit our Introduction to CSR & ESG page on Asiance Academy!
