Shinhan Bank, First Domestic Commercial Bank to Establish ESG Committee Within the Board of Directors

The 1st ESG Committee Meeting Held... Selection of 7 Core Promotion Tasks

[Asia Economy Reporter Yu Je-hoon] Shinhan Bank has become the first domestic commercial bank to establish an Environmental, Social, and Governance (ESG) Committee within its board of directors.

Shinhan Bank announced on the 24th that it held a regular board meeting on the 23rd and resolved to establish the ESG Committee under the board. The ESG Committee was created to strengthen the bank's sustainable growth and the execution of ESG management, and the company explained that it will play a role in deciding and reporting Shinhan Bank's core strategies and execution systems going forward.

The committee is composed of all outside directors including the Chief Executive Officer (CEO), and Park Won-sik, an outside director, was appointed as the chairman to ensure independence. Additionally, on the same day, Shinhan Bank held the first ESG Committee meeting and resolved to establish seven key initiatives: ▲Leading eco-friendly finance ▲Leading social finance ▲Expanding social contributions ▲Expanding internal and external diversity ▲Training future financial experts ▲Strengthening financial consumer protection ▲Establishing an ESG driving system.

A Shinhan Bank official stated, "With the establishment of the ESG Committee, we will strive to enhance the value for customers and society and practice ESG management that is sustainable for the environment and growth. We will actively implement ESG management strategies and key initiatives linked to our core business to enhance customer value."

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