NH Nonghyup Financial-Amundi, Strengthening Partnership and ESG Investment Cooperation

NongHyup Financial Group announced on the 27th that it held a CEO video conference with Amundi, France, to congratulate the appointment of Amundi's new chairman and discuss ESG investment cooperation. The meeting was attended by Son Byunghwan, Chairman of NongHyup Financial Group, Val?rie Baudson, the new Chairman of Amundi, and officials from both companies.

[Asia Economy Reporter Kiho Sung] Sohn Byung-hwan, Chairman of NH NongHyup Financial Group, discussed ESG (Environmental, Social, and Governance) investment cooperation through a video conference with the CEO of Amundi, France. He also extended congratulations on the appointment of Amundi's new chairman.

According to NongHyup Financial on the 28th, Amundi appointed Val?rie Baudson as the new chairman, succeeding Yves Perrier, through a shareholders' meeting held on the 10th. Amundi is the second-largest shareholder of NH-Amundi Asset Management, and since their joint venture in 2003, NongHyup Financial and Amundi have strengthened solid cooperation and regular communication.

Notably, at the meeting held the previous day, former chairman Yves Perrier, who served as chairman for 11 years since Amundi's inception, also attended and exchanged greetings. Chairman Sohn highly praised Yves Perrier's achievements and expressed gratitude for his efforts, including cooperation with NongHyup Financial. Chairman Sohn and former chairman Yves Perrier share a special connection, having met several times in France and Korea in 2019 to revise the shareholder agreement between NongHyup Financial and Amundi.

Chairman Sohn congratulated Val?rie Baudson on her appointment and expressed expectations for Amundi's future development. He also requested continued interest and support for NH-Amundi Asset Management. Above all, they discussed ways to transfer Amundi's ESG investment expertise, as a leader in ESG, not only to NH-Amundi Asset Management but also to NongHyup Financial's affiliates. They agreed to actively cooperate on ESG investment to strengthen their shareholder partnership. Amundi is the number one in Europe for ESG fund assets under management and was selected as the first ETF operator complying with the Paris Climate Agreement.

Accordingly, NongHyup Financial and Amundi plan to have in-depth discussions on concrete measures to adopt Amundi's advanced ESG investment processes and know-how, such as Amundi's 'Climate Change Investment Framework' to prepare for climate risks.

In March last year, Amundi conducted ESG video training for NH-Amundi Asset Management, based on which NH-Amundi Asset Management successfully launched the '100-Year Company Green Korea' ESG fund, achieving high returns and ranking first in ESG equity fund assets under management.

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