Shinhan Financial Group Discusses Financial Sector's Role in Climate Issues with UK Environment Secretary

[Asia Economy Reporter Yoo Je-hoon] Shinhan Financial Group announced on the 8th that on the morning of the 6th, it met with Lord Zac Goldsmith, UK Minister for the Pacific and International Environment, and Colin Crooks, British Ambassador to Korea, at Shinhan Financial Headquarters located in Jung-gu, Seoul, to discuss the role of private financial companies in addressing climate and biodiversity issues.

Minister Goldsmith, who visited Korea to attend the 15th World Forestry Congress held at COEX, Seoul on the 2nd, served as the chief officer responsible for forest conservation at the 26th UN Climate Change Conference of the Parties held in Glasgow, UK, last November. Minister Goldsmith leads global campaigns and fund-raising efforts for environmental conservation, fostering cooperation among various stakeholders worldwide, including government agencies, investors, and corporations.

At the meeting, Shinhan Financial Chairman Cho Yong-byeong introduced the achievements of Shinhan Financial’s carbon-neutral finance strategy, ‘Zero Carbon Drive,’ and various efforts to promote eco-friendly finance, including activities in the UNEP FI Leadership Committee, to which he was elected last November.

Minister Goldsmith emphasized the importance of biodiversity and forest conservation as key tasks to overcome the climate crisis, while Ambassador Colin Crooks urged the domestic expansion of eco-friendly finance, such as the climate bond issuance by Shinhan Financial, which obtained pre-certification from the Climate Bonds Initiative (CBI) based in the UK in April.

Minister Goldsmith said, “I am deeply impressed by Shinhan Financial’s leading role in efforts to respond to climate change and expand eco-friendly finance in line with global standards. If financial support for biodiversity conservation expands worldwide, nature can recover much faster than expected.”

Chairman Cho said, “There are many environmental issues that can be resolved faster through collaboration. Since joining TNFD (Taskforce on Nature-related Financial Disclosures) last March, we have been considering the role of finance in biodiversity, and as a private financial institution, we will take responsibility and seek various solutions for issues that can simultaneously address carbon neutrality and biodiversity, such as forest conservation.”

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