KB Financial "The Only One Among Financial Companies"... A+ in All Categories of ESG Evaluation by the Korea Corporate Governance Service
A+ in All ESG (Environmental, Social, Governance) Categories
[Asia Economy Reporter Park Sun-mi] On the 14th, KB Financial Group was the only domestic financial company to receive an 'A+' rating in the overall integrated grade as well as in all E, S, and G categories in the '2020 ESG (Environmental, Social, and Governance) Evaluation and Rating Announcement for Listed Companies' released by the Korea Corporate Governance Service.
Following its selection as the top domestic financial institution for two consecutive years in 2018 and 2019 in the 'Korea Corporate Governance Service Governance Evaluation,' KB Financial achieved an 'A+' rating in all ESG evaluation categories, including governance, this year.
KB Financial stated that this result came from actively advancing ESG management at the group level. After establishing the group's ESG strategic direction in September 2019, in March of this year, the company created an 'ESG Committee' composed of all directors, including Chairman Yoon Jong-kyu, two inside directors, and seven outside directors, to strengthen ESG management execution capabilities.
In August, KB Financial announced 'KB Green Way 2030,' aiming to reduce the group's carbon emissions by 25% compared to 2017 levels by 2030 and to expand 'ESG products, investments, and loans,' currently approximately KRW 20 trillion, to KRW 50 trillion. In September, it also declared 'Coal-Free Finance,' becoming the first domestic financial group to have all KB Financial affiliates participate.
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A KB Financial official said, “As a result of continuously spreading ESG management by consolidating capabilities centered on the ESG Committee, we were able to obtain an A+ rating in the integrated grade and all ESG categories, the only domestic financial company to do so in the Korea Corporate Governance Service ESG evaluation.” He added, “Going forward, KB Financial will continue to take the lead in practicing substantial ESG management befitting its status as a leading ESG management financial group.”
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