Shinhan Financial Group Joins 'RE100'

Shinhan Financial Group announced on the 12th that it has joined 'RE100,' a global campaign to switch 100% of electricity used by all group companies to renewable energy.

RE100 is a worldwide renewable energy transition campaign to address climate change, with over 400 global companies including Apple, Google, Microsoft, Samsung Electronics, and Hyundai Motor Company as members.

In March, Shinhan Financial declared the 'Shinhan Digital RE100,' switching the power of its group data center to renewable energy. Including Shinhan Bank, which was the first in the domestic banking sector to sign a Renewable Energy Certificate (REC) purchase agreement, a total of six group companies?Shinhan Card, Shinhan Investment Corp., Shinhan Life, Jeju Bank, and Shinhan Savings Bank?have completed REC purchase agreements.

Shinhan Financial also plans to achieve 100% renewable energy transition by 2040 through various methods such as green premiums and Power Purchase Agreements (PPA). Furthermore, it will transparently communicate with stakeholders through accurate verification and external disclosure regarding the renewable energy transition.

Chairman Jin Ok-dong stated, “Through joining RE100, we will explore more diverse ways to expand the base of renewable energy both domestically and internationally,” adding, “Shinhan Financial will continue to expand sincere ESG activities through proactive implementation and accurate verification of renewable energy transition.”

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