ESG 실사의 실무와 향후 과제 - 국내외 ESG 실사 사례를 중심으로 -

The recent growth in the importance of a target company's ESG (Environmental, Social, and Governance) in due diligence for verifying corporate value and ensuring transaction safety has led to a significant increase in the performance of ESG due diligence. This trend is further strengthened by the demands of major domestic and international institutional investors, such as large asset owners and asset management firms, for conducting ESG-related due diligence as part of their ESG investment policies during the delegation, entrustment, and co-investment processes with other investors. However, despite its widespread practical use, academic discussion on ESG due diligence has not been as active. In response, this paper introduces the ESG due diligence policies and cases of major institutional investors and examines future tasks within the discourse of law and policy. Specifically, it looks into the practical cases of major foreign private investors like Carlyle, Blackstone, and KKR, as well as domestic ones like IMM Holdings and Stick Investment, and proposes future tasks such as considering key ESG factors by industry, continuous improvement of the due diligence system that can be specifically applied according to region and size, and the discovery of successful cases of ESG integration into investments. Additionally, it suggests enhancing efficiency and effectiveness through the review of ESG-related laws and regulations, initiatives response, and the integrated performance of legal due diligence and ESG due diligence. The most immediate and certain financial effect of ESG lies in regulatory compliance. It is hoped that through the acquisition of ESG expertise by legal professionals and the demonstration of expertise throughout the investment process, a continuous stream of successful ESG investment cases can be secured.