KB Financial, Expanding ESG Products, Investments, and Loans to 50 Trillion Won by 2030

Promoting a Better World with 'KB GREEN WAY 2030'
Strengthening Environmental and Social Responsibility through Joining the 'Equator Principles'
Publishing the 2019 Sustainability Management Report Highlighting ESG Activity Achievements

[Asia Economy Reporter Kangwook Cho] KB Financial Group published the '2019 KB Financial Group Sustainability Management Report' on the 5th, which contains major achievements and activities from the previous year, and unveiled the group's ESG management strategy in the environmental and social sectors called 'KB Greenway 2030.'

'KB Greenway 2030,' which declares value creation in the environmental and social sectors, aims to reduce KB Financial Group's carbon emissions by 25% by 2030 (compared to 2017) while simultaneously expanding the current approximately 20 trillion KRW scale of 'ESG products, investments, and loans' to 50 trillion KRW as a strategic goal.

To achieve this, KB Financial has presented 'three ESG strategic directions': △ advancing climate change strategies for the environment △ internalizing responsible management for society △ spreading transparent corporate governance, and plans to select and promote key areas for each strategic direction.

In particular, to strengthen responsibility for the environment and society when promoting project financing, KB Financial plans to participate in the 'Equator Principles.' In line with the scheduled '4th revision of the Equator Principles' on October 1, KB Financial is establishing the 'environmental and social impact management process' and 'roadmap' for project financing and plans to join the Equator Principles and apply them to its operations in 2021.

Meanwhile, the 2019 Sustainability Management Report 'ESG Value & Impact' contains achievements pursued according to the strategic directions of E (Environment), S (Social Responsibility), and G (Corporate Governance).

Additionally, KB has actively reflected recent ESG trends in the financial industry such as the novel coronavirus disease (COVID-19) and the spread of ESG-based investments, as well as global initiatives and various stakeholder demands including the Task Force on Climate-related Financial Disclosures (TCFD) and the Sustainability Accounting Standards Board (SASB).

Yoon Jong-kyu, Chairman of KB Financial Group, stated through this report, "KB Financial Group has continuously strived to create sustainable value through ESG management," adding, "We will further strengthen our responsibilities and roles as a leading ESG company and do our best to create social change and future value."

Meanwhile, KB Financial Group was recognized for its differentiated ESG activity achievements by ranking first for two consecutive years in the 'Korea Corporate Governance Service's Governance Evaluation.' It was also included in the 'Dow Jones Sustainability Index' World Index for four consecutive years and received the Financial Sector Carbon Management Sector Honoree award from the 'Carbon Disclosure Project' for three consecutive years.

Along with this, through efforts for gender equality, KB Financial Group was included in the 'Bloomberg Gender-Equality Index' for two consecutive years. In September last year, it joined as a signatory to the 'United Nations Environment Programme Finance Initiative (UNEP FI) Principles for Responsible Banking' and became the first domestic financial institution to join the 'UN Women’s Empowerment Principles (WEPs).'

This content was produced with the assistance of AI translation services.