KB Financial Group, First Financial Holding Company to Join Renewable Energy Transition Campaign 'RE100'

KB Chairman Yoon Jong-kyu: "We Will Fulfill Our Responsibilities and Roles for the Transition to a Low-Carbon Economy"

[Asia Economy Reporter Park Sun-mi] On the 14th, KB Financial Group announced that it has become the first financial holding company to join the global campaign ‘RE100,’ which aims to switch 100% of the electricity used by all its affiliates to renewable energy.

‘RE100’ stands for 100% Renewable Electricity, a global campaign in which companies declare their commitment to switch 100% of the electricity used across all their business sites to renewable energy. Currently, 324 global companies including Google and Apple are participating.

KB Financial, recognized for its leadership and influence on climate change as a leading domestic bank through its coal phase-out declaration and carbon neutrality goals, received approval to join from The Climate Group (TCG) as the first domestic financial group.

To implement ‘RE100,’ KB Financial plans to switch 100% of its electricity consumption to renewable energy by 2040. The group will install solar panels on its office buildings and actively participate in renewable energy investments by exploring various options such as purchasing electricity from renewable energy suppliers through third-party Power Purchase Agreements (PPA) and buying Renewable Energy Certificates (REC).

Yoon Jong-kyu, Chairman of KB Financial, said, “RE100 is the most influential corporate collaboration initiative in the world, promising 100% renewable electricity use,” and added, “As a leading ESG (Environmental, Social, and Governance) company, KB Financial Group will fulfill its responsibilities and roles to expand the use of renewable energy and contribute to the transition to a low-carbon economy.”

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