Expansion of ESG Management in Developing Countries... Shinhan Card and World Bank Join Hands

Sharing ESG Management Cases and Conducting Joint Research

Shinhan Card has partnered with the World Bank and Kyung Hee University to promote carbon neutrality and ESG (Environmental, Social, and Governance) management among financial institutions in developing countries.

On the 15th, Shinhan Card announced that it will share its data-driven carbon neutrality management activities, such as the Shinhan Green Index, together with the World Bank and Kyung Hee University Climate Change Center, and conduct joint research projects to support the spread of carbon neutrality and ESG management in financial institutions of developing countries.

The World Bank is an international financial institution established in 1945 with the goal of eradicating poverty worldwide and promoting economic development in developing countries. It carries out major infrastructure investments and technical support.

The seminar held on the 12th at Shinhan Card headquarters in Euljiro, Jung-gu, Seoul, was attended by Richard Damania, Senior Economist of the World Bank, Moon Dong-kwon, President of Shinhan Card, Oh Hyung-na, Director of Kyung Hee University Climate Change Center, and other officials.

At the seminar, Shinhan Card shared the ESG management strategy linked to the ‘Zero Carbon Drive’ declared by Shinhan Financial Group in 2020, the first in East Asian finance, and introduced the ‘Shinhan Green Index,’ the first carbon emission calculation model based on card usage data developed in the domestic financial industry.

They also shared examples such as the ‘Monthly Carbon Emission Inquiry’ currently provided on Shinhan Play, ‘Carbon Neutrality Tips’ that can be practiced in daily life, and a program that donates accumulated card points to carbon neutrality projects.

A joint research project was also selected for the future. Shinhan Card will first conduct joint research on the topic of ‘Empirical Study on Climate Disasters and Inequality,’ and plans to carry out various projects in collaboration with Shinhan Card, the World Bank, and Kyung Hee University Climate Change Center.

A Shinhan Card official stated, "Through this seminar, we will actively support the spread of carbon neutrality management to major financial institutions in developing countries based on Shinhan Card’s big data analysis capabilities and the expertise of the World Bank and Kyung Hee University Climate Change Center in carbon neutrality, environment, and sustainable management."

After the seminar held on the 12th at the Shinhan Card headquarters in Jung-gu, Seoul, Richard Damania, Chief Economist of the World Bank, and Moon Dong-kwon, President of Shinhan Card, are taking a commemorative photo. (Photo by Shinhan Card)

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