Shinhan Financial CSO Park Seong-hyun Appointed as UNEP FI GSC Asia-Pacific Banking Representative

First Domestic Representative in UNEP FI Global Steering Committee for Asia-Pacific Banking Sector

Shinhan Financial Group

[Asia Economy Reporter Kangwook Cho] Shinhan Financial Group announced on the 8th that Park Sung-hyun, Executive Director and Chief Strategy Officer (CSO) of the Group's Strategy and Sustainability Management Division, has been selected as the representative of the Asia Pacific Banking sector on the Global Steering Committee (GSC) of the United Nations Environment Programme Finance Initiative (UNEP FI).

'UNEP FI' is a public-private partnership between the United Nations Environment Programme (UNEP), established for international cooperation on environmental activities and issues, and the financial sector. Over 300 leading global financial institutions, including banks, investment firms, and insurance companies, voluntarily participate with the goal of expanding sustainable management (ESG).

The 'GSC' is the highest decision-making body of 'UNEP FI,' responsible for setting strategic goals, planning and approving annual business plans, and playing a key role in spreading sustainable management among global financial institutions.

Shinhan Financial Group has been internationally recognized for its leading role in the domestic eco-friendly finance sector and has become the first in Korea to produce a representative for the 'UNEP FI GSC.'

Park Sung-hyun, Executive Director of Shinhan Financial Group, elected as the representative of the Asia Pacific Banking sector, will serve a three-year term from next year through 2023, representing a total of 57 global banks in the Asia-Pacific region, including Korea, China, Japan, and Australia.

Im Dae-woong, Korea Representative of 'UNEP FI,' congratulated, saying, "Shinhan Financial Group has been internationally recognized for its leading role in spreading eco-friendly finance in Korea, becoming the first domestic institution to produce a UNEP FI GSC representative."

A Shinhan Financial Group official stated, "Through this selection, we will strive to discover more areas where finance can contribute to the environment and work together with customers and various partners to practice sustainable management."

Meanwhile, since joining UNEP FI as the first domestic financial company in 2008, Shinhan Financial Group has led sustainable management in the eco-friendly finance sector through various activities such as establishing an integrated green management system in 2010, inclusion in the Dow Jones Sustainability Index (DJSI) World Index in 2013, joining the CDP (Carbon Disclosure Project) Carbon Management Honors Club in 2014, announcing the Eco Transformation 20·20 eco-friendly strategy in 2018, and declaring support for the Task Force on Climate-related Financial Disclosures (TCFD).

In particular, in November 2018, Chairman Cho Yong-byeong personally participated in the 'UNEP FI Global Roundtable' held in Paris, France, where the 'Principles for Responsible Banking (PRB)' for the global financial industry were jointly established and announced.

Furthermore, the entire group is proactively promoting eco-friendly finance strategies, including Shinhan Bank's participation in the Principles for Responsible Banking (PRB) in September 2019, Shinhan Life Insurance's joining of the Principles for Sustainable Insurance (PSI) in March 2020, and Shinhan BNP Paribas Asset Management's declaration of support for TCFD in September 2020.

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