Shinhan Bank Becomes First Korean Bank to Join WWF's 'PACT' Initiative

Strengthening Cooperation for Plastic Reduction

On March 18, Shinhan Bank announced that it had become the first Korean bank to join the global plastic reduction initiative "PACT (Plastic ACTion)," led by the World Wide Fund for Nature (WWF), in celebration of Global Recycling Day.

PACT is a private sector voluntary cooperation program launched by WWF in 2019, serving as a global initiative in which companies set joint goals and collaborate to reduce plastic usage and transition to a circular economy. Currently, over 70 companies worldwide are participating, and in Korea, the initiative has been operated since 2021 to support voluntary corporate activities.

With its participation in PACT, Shinhan Bank plans to expand its collaboration with WWF and promote various activities aimed at reducing plastic usage. In particular, the bank intends to support companies engaged in plastic reduction based on its core financial services and contribute to the transition to a circular economy by expanding green and transition finance.

The bank will also promote plastic reduction activities involving both employees and customers. Through the "Shinhan Green Index," it will continuously manage carbon emissions generated during employees' work processes, and further encourage the use of reusable cups in in-house cafes to strengthen daily efforts to reduce plastic consumption. Additionally, Shinhan Bank will expand customer participation initiatives, such as enabling customers to join in reducing single-use plastic when placing orders through the public delivery app "Ttaenggyeoyo."

These financial support measures and internal sustainability achievements will be regularly shared with WWF. A Shinhan Bank representative stated, "As a responsible financial institution, we will continue to make various efforts to reduce plastic usage and promote the transition to a green economy."

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