Shinhan Financial Group Wins Korea Sustainability Report Award

On the 16th, at the Lotte Hotel Seoul (Sogong-dong), Shinhan Financial Group Executive Director Park Seong-hyun (left) and Korea Standards Association Chairman Lee Sang-jin are taking a commemorative photo at the '2020 Korea Sustainability Conference.'

[Asia Economy Reporter Kangwook Cho] Shinhan Financial Group announced on the 16th that it received the 'Korea Sustainability Report Award (KRCA)' at the '2020 Korea Sustainability Conference' held at Lotte Hotel in Sogong-dong, Seoul. This is the fifth award following those in 2008, 2013, 2016, and 2018.

The KRCA is an award given by the Korea Standards Association to companies that sincerely carry out sustainable management activities and communicate well with stakeholders such as consumers and partner companies.

Awarded companies are selected based on evaluations by experts in sustainable management and stakeholders, according to the international sustainability reporting guidelines (GRI).

Since 2005, when Shinhan Bank, a group company, published the first social responsibility report in the domestic financial sector, Shinhan Financial has led social responsibility management in the domestic financial sector by publishing the 15th '2019 Shinhan Financial Group Social Responsibility Report' this year.

This report clearly demonstrated Shinhan Financial's differentiated strategies in social responsibility management, including eco-friendly finance, coexistence with local communities, and the group's response to COVID-19, based on initiatives such as the climate change response principles, development of social value measurement models, and establishment of a sustainable management governance system, which were first introduced in the domestic financial sector.

Additionally, by disclosing the report in accordance with international standard reporting frameworks such as TCFD (Task Force on Climate-related Financial Disclosures) and SASB (Sustainability Accounting Standards Board), it met the expectations of various stakeholders.

Earlier, on the 14th, Shinhan Financial Group maintained its status as a leading financial group in ESG management by obtaining an integrated A+ rating in the 'ESG Evaluation and Rating of Listed Companies' announced by the Korea Corporate Governance Service.

A Shinhan Financial Group official stated, "Shinhan Financial has set its ESG system in three directions: eco-friendliness, coexistence, and trust, and is actively practicing ESG activities such as the 'Zero Carbon Drive' in line with international trends. We will continue to fulfill our corporate social responsibilities through various social contribution activities and faithfully implement sustainable management."

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