KakaoBank Achieves 'A Grade' in Korea ESG Standards Institute Evaluation for Second Consecutive Year

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KakaoBank announced on November 21 that it has received an 'A grade' in the Korea ESG Standards Institute (KCGS) evaluation for the second consecutive year, following last year.

The Korea ESG Standards Institute is one of the major ESG evaluation agencies in Korea. Since 2011, it has evaluated the sustainable growth of domestic listed companies by dividing it into three categories: environment, social, and governance. KakaoBank has been evaluated by the Korea ESG Standards Institute since 2022, and as in 2024, it received an A grade in all three categories, resulting in an overall A grade.

In the 'environment' category, KakaoBank received high marks for establishing a carbon emission reduction plan in accordance with the TCFD (Task Force on Climate-related Financial Disclosures) standards and for being the first internet-only bank in Korea to set up a 'Net Zero' roadmap, aiming to achieve net-zero greenhouse gas emissions by 2045.

In the 'social' category, KakaoBank became the first in the industry in 2024 to obtain ISO 45001 (the international standard for occupational health and safety management systems) certification, demonstrating the safety of working environments at all business sites. The company's efforts to protect financial consumers and ensure information security, based on relevant specialized organizations, also contributed to its high score.

In the 'governance' category, KakaoBank was positively evaluated for forming a board of directors with diversity and expertise, maintaining the independence of outside directors, and establishing a dedicated support organization, the Board Secretariat, to strengthen its governance support system.

Previously, KakaoBank was the only internet-only bank in Korea to receive an ESG evaluation from Morgan Stanley Capital International (MSCI), a leading global ESG rating agency, and was awarded the highest rating of 'AAA' in the 'MSCI ESG Ratings' announced on November 9.

KakaoBank stated, "Receiving an A grade in the ESG evaluation for two consecutive years is the result of consistently prioritizing ESG as a core value," adding, "We will continue to practice sustainable management and further strengthen inclusive finance."

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