표준화를 통한 ESG의 신뢰성 향상 방안

ESG, a new factor which large-scale funds consider in investing, is embodying “co-existence of enterprise-investment institution-human society ", which has been remained as unsolved problem for many years. However there are hundreds of ESG rating agencies and the correlation coefficient among ratings on the same enterprise provided by these agencies is low so that questions on the reliability of ESG are raised. In order to solve these problems, this study consider data, indicator and rating as the major factors constituting reliability of ESG. And this study is to find enhancement methods for improving reliability of these three factors. First, it is necessary to find proper methods of collecting data, scope of collected data and ways of verifying authenticity of data provided by the enterprises. It could be solved in part when regulatory technical standard, taxonomy and certification system are prepared by agreement among international organization and major economy entities. Also, there are several problems related to indicator, a tool for converting corporate information into quantified ratings. These problems could be solved when major institutions gather and launch an association which is to distinguish common indicators and discretionary indicators out of many indicators. It is necessary to impose qualification regulations on rating agencies and evaluators. Finally, it is natural to assume that the utilization of ESG will increase in our society as standardization of major three elements proceeds, This study divide development stages of ESG into four stages and standardization and utilization levels for each stage is estimated and presented.