Shin Yong-byeong, Chairman of Shinhan Financial Group, Attends 2nd UNFP FI Leadership Committee Annual Meeting

Global Leading Financial Company CEOs Gather to Discuss the Role and Development of 'Sustainable Finance' Amid Crisis

[Asia Economy Reporter Yu Je-hoon] Cho Yong-byeong, Chairman of Shinhan Financial Group, attended the 2nd Annual Meeting of the Leadership Council, the official partnership body of the United Nations Environment Programme Finance Initiative (UNEP FI), to discuss the role and development direction of sustainable finance amid crises.

According to Shinhan Financial on the 1st, Chairman Cho attended the 2nd Annual Meeting of the UNEP FI Leadership Council held online at 10 p.m. the previous day. The Leadership Council is the highest authority committee of UNEP FI, newly established after the 26th UN Climate Change Conference of the Parties last year, to effectively fulfill the responsibilities and roles of global finance regarding Environmental, Social, and Governance (ESG) issues.

The Leadership Council includes CEOs from 24 leading global financial institutions such as Allianz, AXA, BNP Paribas, Barclays, BBVA, and Westpac. Chairman Cho was appointed as an inaugural member and has been active to date.

The meeting, held under the theme "Policies and the Role of Finance for Expanding Sustainable Finance," featured global ESG figures including Inger Andersen, Executive Director of UNEP, and Mark Carney, UN Special Envoy on Climate Change, who exchanged views with CEOs of leading global financial groups. In particular, discussions covered ESG-related regulations such as ESG disclosures promoted by the International Sustainability Standards Board (ISSB) under the International Financial Reporting Standards (IFRS) Foundation, as well as the role of financial companies in strengthening ESG implementation amid the current global economic crisis.

At the meeting, Chairman Cho introduced ESG trends in Asia, including Korea, and expressed the view that ESG disclosures could be a positive factor as they present clear and unified goals.

Chairman Cho stated, "Finance must act as a catalyst to help the will to implement ESG spread well across all industries," adding, "As a leading ESG company in Asia, Shinhan Financial will demonstrate leadership to activate sustainable finance further by becoming one team with financial institutions worldwide."

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