Suhyup Bank Publishes 2024 Sustainability Management Report

Sh Suhyup Bank announced on August 18 that it has published its "2024 Sustainability Management Report," detailing its comprehensive ESG management achievements, including how its sustainable management activities over the past year have contributed to enhancing the value of society.

This report was prepared in accordance with international standards for sustainability reporting, such as the Global Reporting Initiative (GRI) and the Task Force on Climate-related Financial Disclosures (TCFD), and its credibility was enhanced through verification by external organizations. This year, in order to secure objectivity and reliability of the results, Suhyup Bank introduced the "double materiality assessment" method for the first time. This approach not only analyzes the impact of the bank's environmental, social, and governance (ESG) activities on society and the environment at large, but also examines how these activities affect the financial status of stakeholders such as companies and institutions.

Additionally, the bank identified key issues such as financial consumer protection, strengthening digital financial services, and expanding inclusive finance through input from both internal and external experts, and has disclosed in detail the main initiatives and achievements related to these issues.

Meanwhile, Suhyup Bank is taking the lead in marine environmental protection through initiatives such as eco-friendly ship financing and coastal cleanup activities. It is also actively expanding differentiated ESG management by launching customized financial products for fishermen, providing financial education to youth in fishing villages, and contributing to low birth rate countermeasure funds, thereby promoting inclusive finance as a foundation for coexistence with the fishing community.

Shin Hakki, President of Suhyup Bank, stated, "By leveraging our strengths as the only specialized bank for marine and fisheries in Korea, we will strengthen ESG management in the fisheries and marine sectors, discover new growth engines such as expanding digital financial services, and do our utmost to create sustainable value for mutual growth with our customers and local communities."

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