Woori Financial Group Establishes 'ESG Finance Principles' for Leading ESG Management
Woori Bank and Subsidiaries to Establish ESG Risk Management and Evaluation System
[Asia Economy Reporter Kwangho Lee] Woori Financial Group announced on the 25th that it held an ESG (Environmental, Social, and Governance) Management Committee meeting composed of all directors on the 23rd and established the Group ESG Finance Principles.
The ESG Finance Principles are self-established guidelines by Woori Financial Group for the sustainable development of our society, containing provisions to fulfill environmental and social responsibilities through finance and to proactively prevent ESG risks.
Through the establishment of these principles, Woori Financial clearly defined the definition and purpose of ESG finance. The principles will be systematically applied and managed across various business products, services, and financial support of subsidiaries such as Woori Bank, including loans, deposits, bonds, project financing, and asset management, with operational results transparently disclosed externally.
Additionally, a decision-making system centered on the ESG Management Committee and the Group ESG Management Council, composed of subsidiary CEOs, will be established. An ESG risk management system and review system aligned with the Group ESG Finance Principles will also be built for subsidiaries such as Woori Bank.
At the ESG Management Committee meeting, Woori Financial also established group human rights principles, tax policies, and board independence and diversity policies in line with global standards, aiming to accelerate sustainable corporate management and enhance medium- to long-term corporate value.
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Son Tae-seung, Chairman of Woori Financial Group, stated, "The establishment of these principles is significant in that ESG finance elements scattered across various financial sectors can now be systematically managed under Woori Financial Group’s unique ESG Finance Principles." He added, "Woori Financial will continue to take the lead in creating social value through pioneering and sustained ESG management practices."
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