NH Nonghyup Insurance Establishes ESG Management Vision and Advisory Committee

"Establishing Pro-ESG Management by 2025"

NH Nonghyup Property & Casualty Insurance announced on the 22nd that it has declared the vision "ESG Friendly 2025" and established an ESG Advisory Committee to build a management system centered on Environmental, Social, and Governance (ESG).

[Asia Economy Reporter Oh Hyung-gil] NH NongHyup Property & Casualty Insurance announced on the 22nd that it has declared the vision 'ESG Friendly 2025' and established an ESG Advisory Committee to build an environment, social, and governance (ESG)-centered management system.

NongHyup P&C Insurance plans to establish a 'Pro-ESG Management' system by 2025, and has also formulated a phased implementation strategy including designing and internalizing the ESG management system, expanding ESG investments, developing ESG products, discovering ESG promotion tasks by department, and participating in international ESG agreements.

In particular, it plans to operate ESG product development on a two-track basis in line with the ESG strategy of NongHyup Financial Group. This includes NongHyup-type ESG products focused on agriculture and agricultural enterprises, and market-type ESG products specialized in climate change risks and socially vulnerable groups.

Additionally, to present the direction of ESG management, establish an ESG promotion system, and check the progress, the advisory committee was launched. The advisory members elected include Jang Ji-in, Chairperson of the CDP (Carbon Disclosure Project) Korea Committee; Lim Dae-woong, Korea Representative of the United Nations Environment Programme; Kim I-bae, Chairman of the Board of NH NongHyup Property & Casualty Insurance; Cho Bong-soon, Professor at Sogang University; and Jeong Gwang-hwa, Professor at Kangwon National University.

To implement the expansion of ESG investments, NongHyup P&C Insurance signed an 'ESG Bond Investment Discretionary Contract' with NH-Amundi Asset Management on the 19th. This is the first ESG investment discretionary contract among affiliates within NongHyup Financial Group, and through a discretionary contract operated by a split purchase method up to 200 billion KRW, NongHyup P&C Insurance plans to proactively invest in high-quality ESG bonds.

Choi Chang-soo, CEO of NongHyup P&C Insurance, said, "We are optimized for ESG management as we have businesses specialized in climate change response and farm management stability, such as crop disaster insurance and livestock disaster insurance," and added, "We will establish a unique ESG management system exclusive to NongHyup P&C Insurance."

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