Chairman Jo Yong-byeong Elected as Member of UN Environment Programme Finance Sector Leadership Committee

Shin Yong-byeong, Chairman of Shinhan Financial Group, 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, discussing the low-carbon transition in the financial sector.

[Asia Economy Reporter Kwangho Lee] Cho Yong-byeong, Chairman of Shinhan Financial Group, was elected as a member of the Leadership Council, an official partnership organization newly established by the United Nations Environment Programme Finance Initiative (UNEP FI), on the 18th.

UNEP FI is a public-private partnership between the United Nations Environment Programme (UNEP), established for international cooperation on environmental issues, and the financial sector. Over 450 global financial institutions voluntarily participate with the goal of responding to climate change and expanding ESG (Environmental, Social, and Governance) management.

Following the 26th UN Climate Change Conference of the Parties (COP26), UNEP FI established the Leadership Council to enable global financial companies to actively fulfill their responsibilities and roles regarding environmental issues.

The newly established Leadership Council is chaired by Inger Andersen, Executive Director of UNEP, and includes Cho Yong-byeong, the only member from Asia, along with CEOs of 19 global financial companies such as Allianz, AXA, BNP Paribas, Banco Bilbao Vizcaya, and Westpac. These CEOs will serve as ambassadors of UNEP FI and lead ESG trends.

The first meeting will be held virtually at 10 PM Korean Standard Time on the 24th, starting with a welcome address by UN Secretary-General Ant?nio Guterres, followed by discussions on ways to transform into green financial institutions.

Chairman Cho said, "Being elected to UNEP's Leadership Council shows the world the image of 'First-class Shinhan'." He added, "Like the group's ESG slogan, 'Right action toward a wonderful world,' I will deeply consider the role of finance in achieving carbon neutrality and strive to further strengthen ESG management."

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