Shinhan Chairman Attends UNEP FI Leadership Committee as Representative of Asian Finance

Shinhan Financial Group Chairman Cho Yong-byoung attends the first meeting of the Leadership Council, an official partnership organization of the UNEP FI on November 24. (Photo: Shinhan Financial Group)

Cho Yong-byoung, chairman of Shinhan Financial Group, attended the first meeting of the Leadership Committee, the official partnership organization of the United Nations Environmental Programme Finance Initiative (UNEP FI) on November 24.

The Leadership Committee is the highest-ranking committee of the UNEP FI, and was established after the 26th General Assembly of the UN Climate Change Conference (COP26) to more actively fulfill responsibilities in environmental issues.

On November 18, Chairman Cho was selected as the only member from Asia. In the first committee meeting, heads of leading global financial groups had discussions and shared opinions on climate change response and sustainability across the financial industry.

They also discussed preparations for strengthening ESG disclosure and asset portfolio strategies for carbon-neutral finance currently being pursued by the Task Force on Climate-Related Financial Disclosures (TCFD) and the International Financial Reporting Standards (IFRS) Foundation’s International Sustainability Standards Board (ISSB).

“I will make efforts to spread sustainable finance through UNEP FI committee activities in the future,” Chairman Cho said. “Shinhan Financial Group will use ‘Transition Finance’ as its key keyword for carbon neutrality for 2022 and actively support eco-friendly infrastructure and technology investment.”

Honored at 2021 Sustainable Management Merit Award Ceremony

Shinhan Financial Group said that it won a prize from the Minister of Trade, Industry and Energy in the environment category at the 2021 Sustainable Management Merit Award Ceremony held at the Korea Chamber of Commerce and Industry on December 1.

The 2021 Sustainable Management Merit is a government award program to give prizes to private companies that contributed to the promotion of sustainable management and enhancing industrial competitiveness.

At the awards ceremony, Shinhan Financial Group took the prize for preemptively responding to climate change such as East Asia’s first financial asset zero carbon drive in November 2020, the operation of Korea’s first exemplary environmental/social risk management standards and joining the Equator Principles for the first time among commercial Korean banks.

“We are very happy to be recognized once again for Shinhan Financial Group’s sincerity in carbon-neutral finance,” said an official of Shinhan Financial Group.

“We will make efforts to accelerate our conversion to eco-friendly finance such as ‘Transition Finance’ so that companies will regard carbon neutrality as an opportunity.”

4th Shinhan SHerose Conference

Shinhan Financial Group held the 4th Shinhan SHeroes Conference at Shinhan Financial Group’s headquarters in Seoul on December 6. The Shinhan SHeroes Program is the first female leader training course in the financial sector. It began in 2018.

A total of 300 people attended the event, including Chairman Cho, female leaders of the group and the 4th Group of the Shinhan SHeroes. Shinhan’s prospective female leaders also participated in the event through a live YouTube broadcast.

Under the theme of “Diversity to Make a Difference,” members of the Shinhan SHeroes made presentations on achievements they made through various educational programs, including mentoring programs by the CEO and external experts and visions of women’s leadership.

During the ceremony, a special lecture was delivered by Cho Kyung-sun, head of Shinhan Bank Group and a member of the First Group of the Shinhan SHeroes and female mentors were appointed.

Oh Jong-nam, chairman of the Scranton Women’s Leadership Center, attended and gave a lecture on women’s leadership. “I deeply sympathize with Shinhan Financial Group’s willingness to foster female leaders,” Chairman Oh said.

“I ask Shinhan Financial Group to make steady efforts to help female leaders grow in a better environment based on this good program of the Shinhan SHeroes.”

“Please create an environment where young female employees can dream of creating a better future and becoming female leaders who can set good examples.” Chairman Cho said.