KB Kookmin Bank and POSCO Energy Sign Business Agreement to Implement ESG Values

Business Agreement for ESG Value Implementation and Successful Execution of RE100

At the 'Business Agreement Ceremony for ESG Value Implementation and Successful Execution of RE100' held on the 19th at KB Kookmin Bank Yeouido New Building, (right) Heo In, President of KB Kookmin Bank, and (left) Jeong Gi-seop, President of POSCO Energy, signed the business agreement and are posing for a commemorative photo.

[Asia Economy Reporter Park Sun-mi]KB Kookmin Bank announced on the 21st that it has signed a "Business Agreement for ESG Value Implementation and Successful Execution of RE100" together with POSCO Energy. The signing ceremony held on the 19th at KB Kookmin Bank's Yeouido New Building was attended by Huh In, President of KB Kookmin Bank, Jeong Gi-seop, President of POSCO Energy, and other officials.

Through this agreement, each institution plans to promote business cooperation for ESG value implementation and successful execution of RE100. Specific areas of cooperation include ▲ Priority collaboration with POSCO Energy when KB Kookmin Bank promotes RE100 ▲ Priority collaboration with KB Kookmin Bank when POSCO Energy promotes renewable energy projects ▲ Sharing of domestic and international renewable energy-related policies and information.

In September, KB Financial Group became the first domestic financial group to join the global campaign "RE100," which aims to switch 100% of the electricity used by all affiliates to renewable energy. To fulfill the "RE100" commitment, KB Financial Group plans to convert 100% of its electricity consumption to renewable energy by 2040, and KB Kookmin Bank plans to collaborate with POSCO Energy's renewable energy projects to achieve this goal.

A KB Kookmin Bank official stated, "Taking this agreement as an opportunity, we will collaborate on various renewable energy projects promoted by POSCO Energy and do our best to achieve KB Financial Group's goal of converting 100% of electricity consumption to renewable energy by 2040."

To expand the use of renewable energy, KB Kookmin Bank has installed solar power generation facilities at major large-scale sites such as the Yeouido headquarters, Gimpo Integrated IT Center, and training center, and plans to gradually expand these installations. Additionally, the bank is actively participating in the Ministry of Environment's "2030 Korean-style Zero Emission Vehicle Transition 100 (K-EV100)" by converting its fleet of business vehicles to eco-friendly vehicles.

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