Shin Yong-byeong, Chairman of Shinhan Financial Group, Discusses Carbon Neutrality with UK Climate Action Expert

Shinhan's Carbon Neutral Strategy 'Zero Carbon Drive' Domestic and International Dissemination Cooperation

Shinhan Financial Group (Chairman Jo Yong-byeong) met with Nigel Topping, the UK’s High-Level Climate Action Champion, on the afternoon of the 14th at Shinhan Financial Group headquarters located in Jung-gu, Seoul, to discuss the role of domestic private financial companies in achieving net-zero carbon emissions in the Asia region.
After the meeting, Shinhan Financial Group Chairman Jo Yong-byeong (left in the photo) and UK Climate Action Champion Nigel Topping posed for a commemorative photo.

[Asia Economy Reporter Jin-ho Kim] Cho Yong-byeong, Chairman of Shinhan Financial Group, met with Nigel Topping, the UK’s High-Level Climate Action Champion, to discuss the role of domestic private financial institutions in achieving carbon neutrality in the Asian region.

According to Shinhan Financial on the 15th, the meeting held the previous day at the headquarters in Jung-gu, Seoul, began with discussions on Shinhan Financial’s carbon neutrality strategy, the ‘Zero Carbon Drive.’ This was followed by various topics including Shinhan Financial’s role as a founding signatory of the Glasgow Financial Alliance for Net Zero and the Net Zero Banking Alliance, as well as cooperation plans among domestic financial institutions related to COP26.

The United Nations Framework Convention on Climate Change (UNFCCC) appoints two High-Level Climate Action Champions to collaborate with various stakeholders such as governments, local authorities, companies, and investors. These champions strengthen cooperation among businesses, investors, cities, and regions, encourage action, and lead alliances to achieve carbon neutrality goals between governments and UNFCCC parties.

Nigel Topping is one of the two champions appointed by the UNFCCC. He is the highest-ranking representative of non-governmental organizations at the 26th UN Climate Change Conference of the Parties (COP26), to be held in Glasgow, UK, this coming November.

Nigel Topping stated, "COP26 will be a crucial forum for global climate recovery," adding, "Carbon neutrality is difficult to achieve without cooperation not only from governments but also from the private sector, and especially cooperation among Asian countries is key."

Chairman Cho responded, "Addressing climate change has been an issue I have continuously cared for and personally managed since assuming the group chairman position in 2017," and said, "We will continue to strive to actively serve as a link between advanced climate finance groups and the Asia-Pacific region."

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