Yoon Jong-kyu, Chairman of KB Financial Group, "We Must Accelerate Investment in Eco-Friendly Technology and Infrastructure"
Chairman Yoon the Only Korean Attendee at 'COP26 Business Leaders Group Meeting'
Yoon Jong-kyu, Chairman of KB Financial Group, emphasized the need to "further accelerate investments in eco-friendly technologies and infrastructure" in relation to climate change issues.
According to KB Financial Group on the 12th, Chairman Yoon expressed this view in response to a question about the impact of Russia's invasion of Ukraine on climate change and the Glasgow Climate Pact during the COP26 (26th UN Climate Change Conference of the Parties) Business Leaders Group meeting held the previous day. Yoon stated, "While the Ukraine crisis may pose a short-term obstacle to international agreements on carbon neutrality, the need for self-produced renewable energy will expand further in the mid to long term to ensure stable energy supply."
The COP26 Business Leaders Group was established under the leadership of the United Nations (UN) and the UK government, and is a high-level leadership body comprising executives from eco-friendly companies such as Unilever, IKEA, and Mahindra. Yoon was the only participant from Korea at this meeting. The group shares ideas for implementing the COP26 Glasgow Climate Pact through monthly online and offline meetings.
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KB Financial is leading ESG (Environmental, Social, and Governance) management domestically and internationally, being the first in the Asian financial sector to receive approval for the Science Based Targets initiative (SBTi) and actively participating as a representative bank of the Net-Zero Banking Alliance (NZBA) Asia-Pacific. On this day, Chairman Yoon also explained KB Financial’s climate change response efforts, including the newly established 'ESG Consulting' organization this year. He said, "We are focusing our capabilities on supporting small and medium-sized enterprises to stably transition to eco-friendly business models and seize new growth opportunities."
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