(Sisa Today, Sisa ON, Sisa On = Reporter Park Jin-young)
Shinhan Financial Group announced on the 17th that it established the’ESG Promotion Committee’ to manage the group’s ESG management performance and further strengthen the ESG strategy initiative, and held the first meeting with Chairman Yong-Byeong Cho and CEO of the group companies in attendance.
Shinhan Financial Group established the’ESG Promotion Committee’, which is attended by all CEOs of group companies, and has previously operated the’ESG Strategy Committee*’ (formerly, the Social Responsibility Management Committee), and the’Group ESG CSSO Council’ (formerly the Group Sustainability Management CSO. Council) and the’Group Sustainability Management Working Group’ (formerly Group ESG Working Group), together with the ESG driving system to promote unified strategies at the group level.
In addition, Shinhan Financial is the first Korean financial company to quantitatively measure and evaluate ESG business performance promoted by each group company, such as △ Eco-friendly finance △ Asset portfolio carbon emission management △ Innovative finance such as start-up support △ Lending/investment review system establishment. It is planning to internalize ESG in all practical management activities.
At this meeting, we reviewed the ESG business performance promoted by the group last year, and as a priority task of the group’s eco-friendly strategy,’Zero Carbon Drive’, we will focus on carbon emissions and carbon intensity to reduce 38.6% of the carbon emissions of our financial asset portfolio by 2030. For monitoring.
In particular, in the ESG agenda discussion, directly led by Chairman Cho Yong-byeong, top management of each group company held a heated discussion on the subject of’how to internalize ESG strategy in the core business process of each group company’.
Chairman Cho said, “ESG is like a vaccine for companies in preparation for an uncertain business environment.” “Going beyond the ESG 2.0 stage of contemplating ESG and declaring ESG management, Shinhan’s unique ESG business model is discovered and implemented. “Let’s increase the speed to ESG 3.0 stage.”
On the other hand, Shinhan Finance has been pursuing a unified ESG strategy at the group level by appointing the Chief Strategy & Sustainability Officer (CSSO), a strategy and sustainability officer, to all group companies for the first time since 2019, and appointing a working-level ESG manager to the strategy department. .
In particular, the’Social Responsibility Management Committee’, which has been operating for the first time in a financial company, centered on outside directors, has the chairperson’s direct interviews with major global investment institutions on ESG-related performances and strategies. It attracted the attention of evaluation agencies.
Based on these activities, as well as regular monitoring of ESG performance, ESG core issue management indicators, led by climate change, were disclosed in the results release data every quarter, and the sincerity of ESG management was recognized.
An official of Shinhan Financial Group said, “Across the world, various stakeholders such as customers, governments, investors, and NGOs are increasingly interested in sustainability management (ESG).” “Shinhan Financial is the first Korean financial company to implement the ESG performance management system. And through this, we will continuously disclose ESG performance every quarter.” In addition, he said, “We will do our best to fulfill our social responsibility in finance by practicing various ESG activities for sustainability management.”
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