Shinhan Financial Group Publishes '2021 ESG Report'
17th Report... The Most Among Domestic Financial Companies
[Asia Economy Reporter Yu Je-hoon] Shinhan Financial Group announced on the 14th that it has published the '2021 ESG Report,' which discloses the group's major environmental, social, and governance (ESG) activities and related data from last year.
In March, Shinhan Financial published the '2021 ESG Highlights,' a storytelling-focused summary to enhance reader interest, and now discloses ESG-related reports twice a year along with the 2021 ESG Report.
In this report, Shinhan Financial posted quantitative data on its ESG financial performance in a separate Factbook-format Excel file, improving transparency and convenience for stakeholders such as investors and rating agencies. Additionally, the report strengthened the level of ESG disclosures by introducing advanced indicators applying the latest international standards, including the International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards draft recently announced and the World Economic Forum (WEF) Stakeholder Capitalism Metrics.
The Environment (E) chapter of the 2021 ESG Report revealed activities such as the development of a carbon emissions measurement system for financial assets and ESG evaluation models, and the issuance of green bonds called 'Climate Bonds' that obtained pre-certification from the Climate Bonds Initiative (CBI). The Social (S) chapter covered activities of the startup nurturing platform 'Shinhan Squarebridge' and the integrated financial education platform 'Shinhan Easy.' The Governance (G) chapter encompassed the establishment of ESG committees within the boards of group companies, the construction of ESG performance management systems, and financial fraud prevention activities.
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Shinhan Financial Chairman Cho Yong-byeong stated, "The practice of ESG begins with transparent disclosure of related information to encourage convenience and interest in information access for stakeholders," adding, "Recognizing Shinhan Financial's role in the ESG transition and acceleration for all stakeholders, we will strive harder to become a leading financial group in ESG in Asia."
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