Woori Financial Group, First Domestic Company to Join the 'Nature-related Financial Disclosure Consortium'

[Asia Economy Reporter Song Seung-seop] Woori Financial Group announced on the 13th that it will participate in the Taskforce on Nature-related Financial Disclosures (TNFD) as the first domestic company.

TNFD is a global environmental coalition working to prevent nature loss and restore ecosystems. It was officially launched in June 2021 by the United Nations Development Programme (UNDP), the United Nations Environment Programme Finance Initiative (UNEP FI), the World Wide Fund for Nature (WWF), and others to support companies in disclosing nature-related financial information. Currently, more than 250 global companies, including BlackRock, Bank of America (BoA), and HSBC, are participating.

Woori Financial Group plans to recognize the risks caused by biodiversity loss to companies and consider short-term financial risks as well as companies' dependence on nature and their positive and negative impacts from a long-term perspective. It will also support the development of international standards for nature restoration and strengthen activities such as biodiversity conservation, forest protection, and marine protection.

Son Tae-seung, Chairman of Woori Financial Group, emphasized, “We will cooperate with global institutions for nature restoration, including biodiversity conservation,” adding, “We will actively practice global ESG (Environmental, Social, and Governance) management by transparently disclosing information to stakeholders.”

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