Shinhan Financial Group Joining TNFD to Establish Standards on Financial Information Disclosure
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Shinhan Financial Group Joining TNFD to Establish Standards on Financial Information Disclosure
Ranks first in its 24th K-BPI survey along with Shinhan Bank and Shinhan Card

25(Mon), Apr, 2022

Chairman Cho Yong-byoung of Shinhan Financial Group. (Photos: Shinhan Financial Group)

Shinhan Financial Group announced on March 29 that it will participate in the Taskforce on Nature-Related Financial Disclosures (TNFD), an initiative to establish standards on corporate nature-related financial information disclosure.

The TNFD is a global consultative body launched to promote change in companies by recognizing risk that may undermine the conservation of nature and biodiversity, and measuring its impact. 

Currently, participants include international organizations such as the United Nations Environment Program Finance Initiative (UNEP FI) and the United Nations Development Program (UNDP), and about 300 global companies such as Bank of America (BoA), BlackRock and AXA.

Shinhan Financial Group plans to measure the financial industry’s short- and long-term risks to nature through participation in the TNFD and to discuss strategies to establish standards and respond to the disclosure of related information with global companies. 

In addition, based on the results of research by environmental experts, the financial group is planning to fuel domestic companies’ interest in nature and encourage their participation in environment protection.

“Through this participation in TNFD, we will be able to look at the issue of conservation of nature and biodiversity anew from a financial perspective,” said Cho Yong-byoung, chairman of Shinhan Financial Group. “We will implement our ESG management strategy with stakeholders.”

Meanwhile, Shinhan Financial Group is focusing on ESG management implementation based on the group’s ESG slogan, “Do the Right Thing for a Wonderful World.” 

ESG management is being practiced based on core projects such as operating ESG strategic indicators for group affiliates, securing carbon-neutral capabilities and expanding ESG investment. 

Shinhan Financial Group announced on March 24 that it ranked first along with Shinhan Bank, and Shinhan Card in the 24th K-BPI survey conducted by Korea Management Association Consulting. 

1st Place in Brand Power Survey 

Shinhan Financial Group announced on March 24 that Korea Management Association Consulting (KMAC) ranked Shinhan Financial Group, Shinhan Bank and Shinhan Card as the top brands in its 24th Korea Brand Power Index (K-BPI) survey.

The K-BPI is a brand value certification system announced by KMAC every March. KMAC conducts one-on-one interviews with 12,000 people aged between 14 and 60 to rank companies’ brand power. 

Shinhan Financial Group earned high points for its achievements such as its major ESG activities based on eco-friendliness, win-win growth, and trust and an innovative digital transformation with the goal of realizing “Easier, More Convenient and Newer Finance.” 

Therefore, KMAC selected Shinhan Financial Group as the No. 1 brand in the financial group sector for 11 consecutive years.

Shinhan Bank was highly recognized for its customer-oriented brand management so selected as the No. 1 in the banking sector for seven consecutive years. 

In the ‘private banking’ and retirement planning financial services categories, Shinhan PWM and Shinhan Future Planning came in first for five consecutive years, respectively, significantly solidifying the status of the bank’s brand.

Shinhan Card was honored as the No. 1 company in the credit card sector for 11 consecutive years and the check card sector for 8 consecutive years in recognition of its stellar performances and brand value in the credit card industry. 

It basked in the glory of being ranked first in a total of four categories including the mobile credit card and social contribution categories. 

Investment in Proptech Startup

Shinhan Financial Group announced on April 11 that through the Won Shinhan Connect New Technology Investment Association Fund No. 1 will make an investment of 10 billion won in Apartmentary, a proptech startup specializing in interior design and remodeling. 

The proptech sector is an industry showing high growth, starting from a real estate brokerage platform and expanding into various fields. 

Apartmentary which Shinhan Financial Group decided to invest in this time, is a startup specializing in apartment interior design and remodeling growing fast based on design modularization and price tag system in the proptech area.

Based on this investment, Shinhan Financial plans to collaborate with Apartmentary in various fields, such as installment finance for interior design customers and the development of interior packages tailored to senior citizen customers in connection with its digital health care business. 

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