Woori Financial Group Joins Global Environmental Initiative PCAF
Strengthening Eco-Friendly Finance and Fulfilling Environmental Risk Responsibilities
Woori Financial Group publicly announced its 'Group ESG Vision and Mid-to-Long-Term Implementation Strategy' at the group's second half management strategy workshop last July. From the left, Kwon Kwang-seok, President of Woori Bank; Sohn Tae-seung, Chairman of Woori Financial Group; and Kim Jeong-gi, President of Woori Card, are posing for a commemorative photo.
View original image[Asia Economy Reporter Jin-ho Kim] Woori Financial Group announced on the 29th that it has joined PCAF (Partnership for Carbon Accounting Financials), a global environmental initiative, to promote environmental sustainability. PCAF is a global private consortium that provides carbon accounting standards to measure and disclose greenhouse gas emissions resulting from financial institutions' investments and financial transactions in order to implement the Paris Climate Agreement.
Through this membership, Woori Financial Group plans to actively pursue the practical implementation of carbon neutrality. In the future, the group intends not only to measure the carbon emissions of its asset portfolio but also to strive to reduce greenhouse gas emissions from financial transactions according to global standard methodologies.
Earlier in July, Woori Financial Group presented its mid- to long-term ESG goals, including achieving zero carbon emissions for both the group’s own emissions and its asset portfolio by 2050, and supporting KRW 100 trillion in ESG finance such as ESG products, loans, investments, and ESG bond issuance by 2030.
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A representative of Woori Financial Group stated, “Based on joining the global environmental initiative PCAF, Woori Financial Group will fulfill the financial sector’s role in transitioning to a carbon-neutral society by measuring carbon emissions and setting reduction targets according to scientific methodologies.”
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