Samsung Asset Management Declares Support for the 'Task Force on Climate-related Financial Disclosures'
[Asia Economy Reporter Minji Lee] Samsung Asset Management announced on the 20th that it has joined the 'Task Force on Climate-related Financial Disclosures (TCFD)' supporters group together with its subsidiary Samsung Active Asset Management to raise awareness of climate change response among domestic institutions and expand environmental information disclosure.
TCFD was established in 2015 under the leadership of the Financial Stability Board (FSB), a consultative body of G20 finance ministers and central bank governors, with the aim of preparing guidelines for climate-related information disclosure. Currently, over 1,900 companies and organizations worldwide have joined, and in Korea, 34 entities including the Ministry of Environment and Korea Exchange are members.
In November last year, Samsung Asset Management, along with Samsung financial affiliates, declared 'coal divestment finance' as a proactive response to the climate crisis. Additionally, in March this year, it declared support for 'climate finance' by aiming for carbon neutrality by 2050 through halting coal investments or disclosing climate-related financial information. This month, it plans to establish an ESG (Environmental, Social, Governance) Committee within the board of directors to fully implement ESG management.
Jung Won-jung, head of the ESG team at Samsung Asset Management, stated, “We will proactively respond to investment risks related to climate change and continue to grow Samsung Asset Management’s ESG investment and management in the future.”
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Currently, Samsung Asset Management is investing 2.4 trillion KRW in ESG-related sectors such as renewable and eco-friendly infrastructure. Since December last year, it has launched a total of nine ESG-related public funds, including the Samsung ESG Value Bond Fund, Samsung Energy Transition Fund, and KODEX Carbon Efficiency Green New Deal.
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