KB Financial Group Publishes '2021 Sustainable Management Report'

11th Year This Year... Core Themes: 'Diversity and Inclusion', 'Climate Change Response', and 'Sustainable Finance'

[Asia Economy Reporter Yu Je-hoon] KB Financial Group announced on the 21st that it has published the '2021 Sustainability Management Report,' which covers three core themes: ▲Diversity and Inclusion ▲Climate Change Response (TCFD) ▲Sustainable Finance, as well as the group's governance, environmental management, and social responsibility.

The most notable feature of this Sustainability Management Report is the special report detailing the concrete Environmental, Social, and Governance (ESG) management action principles that KB Financial Group pursues to practice 'coexistence and mutual growth.'

First, in the Diversity and Inclusion report section, the efforts of KB Financial Group to realize diverse values and establish inclusive systems and cultures are included. KB Financial Group unveiled its mid-to-long-term strategy 'KB Diversity 2027,' aiming to expand diversity in hierarchy and gender by 2027, and presented specific implementation plans along with concrete goals according to the group's diversity roadmap.

In the TCFD report section, the current status, goals, and achievements for each of the four areas recommended by the TCFD climate information disclosure guidelines?▲Governance ▲Strategy ▲Risk Management ▲Metrics and Targets?were introduced. In particular, the financial impact of climate change was measured through scenario analysis, and for the first time in Korea, the scientifically based carbon emission reduction targets and implementation process approved by the Science Based Targets initiative (SBTi) were detailed.

Additionally, the Sustainable Finance report section includes various financial activities aimed at leading societal change through innovation in ESG financial products. Specifically, the 'Green Wave 2030' strategy to expand the scale of ESG products, investments, and loans to 50 trillion KRW by 2030, examples of eco-friendly loans and investments, and the 'KB ESG Consulting Service' to support ESG management activities of small and medium-sized enterprises were introduced.

Yoon Jong-kyu, Chairman of KB Financial Group, said in his CEO message, "The path to ESG is a matter of future survival and must continue for better growth," adding, "Through KB's differentiated ESG management practices, we will do our best to exert a positive influence on the world’s path toward a better society."

Meanwhile, the 11th report, the 2021 Sustainability Management Report, was prepared in accordance with global disclosure standards such as the Sustainability Reporting Guidelines 2021 and the Sustainability Accounting Standards Board (SASB), reflecting the demands of investors and other stakeholders.

Marking its 11th edition this year, the 2021 Sustainability Management Report was prepared in line with global disclosure standards such as the Sustainability Reporting Guidelines (GRI Standards 2021) and the Sustainability Accounting Standards Board (SASB), reflecting the requirements of investors and other stakeholders. A KB Financial Group official stated, "This report succinctly encapsulates KB’s challenges to prepare for a sustainable future," and added, "KB will fulfill its responsibilities as a financial company to build a sustainable future society."

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