"10 Trillion for ESG, 100 Trillion by 2030"... Woori Financial Accelerates Sustainable Management

Sustainability Management Report of Woori Financial Group on the 10th

[Asia Economy Reporter Song Seung-seop] Woori Financial Group has invested a total of 10.021 trillion KRW in ESG (Environmental, Social, and Governance) finance. The investment scale is planned to increase to 100 trillion KRW by 2030.

Woori Financial Group announced on the 10th that it has published the "Woori Financial Group Sustainability Management Report," which contains the results of its sustainable management. Since the establishment of the holding company in 2019, Woori Financial Group has disclosed the sustainable management activities and achievements of group companies such as Woori Bank to stakeholders every year.

According to the report, the amount of ESG bonds issued by Woori Financial Group last year was approximately 4.7 trillion KRW in Korean won. The issuance scale more than doubled compared to the previous year. Woori Bank was the first commercial bank to issue 200 billion KRW worth of sustainability bonds in Korean won in 2019. The issued ESG bonds undergo verification and are included in the Woori Bank Sustainability Bond Post-Issuance Report and the Woori Card Social Bond Pre-Verification Report.

Within the group, the three asset management companies (Woori Asset Management, Woori PE Asset Management, and Woori Global Asset Management) disclosed that they apply the Stewardship Code and bear fiduciary responsibilities reflecting ESG. The ESG review items include a total of nine factors such as business competitiveness, board independence, governance transparency, and reliability of information disclosure. Investments are excluded if the industry causes social controversy. These investment principles are commonly applied to all assets including listed stocks, bonds, and private equity funds.

In addition, Woori Financial Group’s ESG vision and strategic framework, as well as its status of joining global initiatives, were introduced. In particular, in the environmental (E) sector, Woori Financial strengthened disclosure of asset portfolio financial emission measurement results according to the TCFD framework (Task Force on Climate-related Financial Disclosures). In the social (S) sector, it expanded disclosure of sustainable management performance information related to financial consumer protection and occupational safety and health. In the governance (G) sector, it expanded disclosure on governance and information protection.

Son Tae-seung, Chairman of Woori Financial Group, emphasized, “We will actively respond to the climate crisis and practice greater sharing with local communities,” adding, “We will expand ESG culture and financial support to serve as a catalyst for the sustainable development of our society.”

This content was produced with the assistance of AI translation services.