지속가능성 관련 기업공시를 둘러싼 규제 동향 - 최근 일본의 기업공시에 관한 개정을 중심으로 -

In Japan, the Financial System Council published the Summary of Report by the Working Group on Corporate Disclosure of the Financial System Council (DWG Report) on December 27, 2022. The DWG Report sets out the goal of eventually requiring all companies filing Annual Securities Reports to disclose the required sustainability information. In addition, the SSBJ (Sustainability Standards Board of Japan) has proposed a policy to develop sustainability disclosure standards in Japan and to proceed with the standard information in the form of a public notice designation by the authorities. The revision of sustainability disclosure in Japan is to build on the progress made so far in corporate disclosure, to systematically revitalize the disclosure of non-financial information related to mid- to long-term corporate value enhancement that is important to investors, and to strengthen communication between companies and domestic and international investors. As expectations for companies to address environmental and social challenges are rising, the movement to require companies to disclose information on how they are implementing responses related to sustainability, one of the most important foundations, is accelerating. The Financial Services Commission of Korea plans to advance Koreaʼs ESG disclosure system to meet global standards by promoting voluntary disclosure of ESG information and gradually making it mandatory in order to lay the institutional foundation for promoting ESG (Environmental, Social and Governance) responsible investment. While the international discussion on sustainability disclosure has been advancing rapidly in recent years, the institutional discussion on sustainability disclosure by Japanese companies is thought to have implications for Korean law.