Chairman Cho Yong-byeong: "We Will Be the Catalyst for Accelerating Korea's Low-Carbon Economy"

Discussion on 'Low-Carbon Transition in the Financial Sector' with CEOs of Major Global Financial Institutions

Shin Yong-byeong, Chairman of Shinhan Financial Group, is participating in the "Marrakech Partnership," an official event of the 26th United Nations Climate Change Conference of the Parties, held in Glasgow, UK, on the 3rd (local time), discussing the low-carbon transition in the financial sector.

[Asia Economy Reporter Kwangho Lee] Cho Yong-byeong, Chairman of Shinhan Financial Group, stated, "We will further contemplate the role of finance in achieving carbon neutrality and do our best to serve as a catalyst for accelerating the nation's low-carbon economy."

According to Shinhan Financial on the 4th, Chairman Cho participated in the 'Marrakech Partnership,' an official event of the 26th United Nations Climate Change Conference of the Parties (COP26) held in Glasgow, UK, on the 3rd (local time), where he presented on carbon neutrality strategies.

The Marrakech Partnership is one of the major events at COP26 aimed at spreading climate action and strengthening cooperation among governments, corporations, and private investors. Discussions on various topics such as finance, energy, industry, and law are scheduled to continue until the 11th.

On the first day, the 3rd, the 'Finance Day' event was held, focusing on the crucial theme of the role of finance in achieving carbon neutrality.

Attendees included COP26 Climate Action Champion Nigel Topping, UN Climate Envoy Mark Carney, UNEP Executive Director Inger Andersen, along with CEOs of leading global financial institutions driving carbon neutrality such as Allianz, HSBC, and AXA.

Notably, Chairman Cho was the first representative from an Asian private financial institution to be invited to the COP26 event. He engaged in discussions on the theme of 'Low-Carbon Transition in the Financial Sector' with representatives from BlackRock, the world's largest asset management company, and APG, a Dutch pension fund manager.

At this event, Chairman Cho introduced Shinhan Financial's carbon neutrality strategy, 'Zero Carbon Drive,' the first declared by a financial institution in East Asia. He also explained the methods for measuring carbon emissions in the asset portfolio and reduction targets that Shinhan Financial is implementing. He pledged to actively support industries with high carbon emissions such as power generation, steel, petrochemicals, and cement to accelerate the low-carbon transition.

Meanwhile, on the 9th, an event organized by the Global Green Growth Institute (GGGI) will be held to promote the carbon neutrality efforts of various countries. Chairman Cho plans to personally participate in the COP26 Korea Pavilion to actively promote South Korea's carbon-neutral finance to stakeholders worldwide.

This content was produced with the assistance of AI translation services.