KB Financial Group Selected as an Outstanding Company for Climate Change Response by CDP
Financial Sector Wins 'CDP Korea Carbon Management Sector Honors' for 4 Consecutive Years
[Asia Economy Reporter Park Sun-mi] KB Financial Group announced on the 28th that it has been selected for the fourth consecutive year as a 'Carbon Management Sector Honoree' in the financial sector in the 2020 Carbon Disclosure Project (CDP) climate change response evaluation.
CDP is a global project that publishes reports analyzing environmental management information related to climate change, water, and forest resources of major companies, supporting financial institutions worldwide in making investment and lending decisions.
Every year, more than 9,600 companies worldwide disclose environmental information through CDP to over 590 investors managing assets worth 110 trillion dollars. The CDP Korea Committee evaluates climate change management information for the top 200 companies by market capitalization and selects outstanding companies responding to climate change in nine sectors, including finance.
A KB Financial official stated, "Being selected as a 'CDP Carbon Management Sector Honoree' is an external recognition of KB Financial's proactive efforts to respond to the climate change crisis," adding, "KB Financial will continue to demonstrate leadership in climate change response within the financial industry and lead ESG (Environmental, Social, and Governance) management."
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Meanwhile, KB Financial is promoting various activities to respond to the climate change crisis. Based on the 'KB Green Wave 2030' strategy, a mid-to-long-term ESG management roadmap practiced by all affiliates including KB Kookmin Bank, efforts are underway to reduce carbon emissions by 25% by 2030. Recently, KB Financial joined SBTi (Science Based Targets initiative) and PCAF (Partnership for Carbon Accounting Financials) and is currently establishing scientifically based carbon emission reduction targets.
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