NH NongHyup Financial Group has joined the Partnership for the Carbon Accounting Financials (PCAF), the Science-Based Targets Initiatives (SBTi), the Carbon Disclosure Project (CDP), and the Net Zero Banking Alliance (NBA) to achieve carbon neutrality and establish global standards on ESG management.
This reflects NH NongHyup Financial Group’s intention to lead the way in the promotion of carbon neutrality, one of the largest agendas in the international community by sincerely playing the roles of a financial institution, NH NongHyup Financial Group said on June 28.
NH NongHyup added that it joined four international treaties at the same time to respond systematically and faithfully to climate risks.
NH NongHyup is seeking to join international agreements systematically under the “Social Value and Green Finance Committee” within the board of directors, the top decision-making body of ESG, and the council organized by the group chairman.
Accordingly, after the declaration of support for the Task Force on Climate-Related Financial Disclosures (TCFD) last year, it established internal carbon emissions measurement and reduction targets, and published a report about the status of the implementation of recommendations and a plan for the future.
NH NongHyup Financial Group explained that it will increase the completeness of the company’s ongoing TCFD implementation, including asset portfolio carbon emissions measurement and reduction goals, the establishment of carbon neutrality, and the completion of a climate risk management system.
A report will be published by the end of the year.
In addition, NH NongHyup Financial Group plans to actively practice differentiated green finance, such as ESG product development and eco-friendly investment by utilizing its advantages.
“Climate risk management is the centerpiece of ESG management,” NH NongHyup Financial Group Chairman Son Byung-hwan said.
“The implementation of international agreements is more important than signing them. As a result, NH NongHyup Financial Group will continue to promote practical implementation and transparent disclosures.”
Social Value and Green Finance Council
NH NongHyup Financial Group announced on June 30 that it held a meeting of the Social Value and Green Financial Council at its headquarters in Jung-gu, Seoul on June 29. The Social Value and Green Financial Council is the highest council to discuss the group’s ESG management strategies and the status of their implementation.
At the meeting, participants had time to discuss the results and current status of NH NongHyup Financial Group’s ESG management and future plans.
From 2021 to the first half of 2022, they looked back on the results of the group’s ESG management such as the ESG management system, the expansion of ESG investment and products, joining international agreements, and earning good responses from external evaluators.
They also had a discussion about plans for the second half of this year, including establishing a carbon-neutral strategy, revitalizing green finance based on the characteristics of affiliates and publishing an ESG management report.
Publication of ‘The Decade of NH NongHyup Financial Group’
NH NongHyup Financial Group announced on July 6 that it published “The Decade of NH NongHyup Financial Group,” which summarizes the group’s history and achievements in honor of its 10th anniversary.
NH NongHyup Financial Group took its first step as a financial holding company in 2012. It has grown amid various difficulties over the past decade and now has a sustainable growth foundation as a general financial group.
NH NongHyup Financial Group published a book about its 10-year history with its will to shed light on its efforts to grow into what it is now and grow with customers through sustainable management and review its achievements.
The first part of the corporate history book generally describes the history of NH NongHyup Financial Group in the aggregate. Interviews with former chairpersons delve into how NH NongHyup Financial Group has grown and changed.
Looking back on the path that NH NongHyup Financial has taken, the book suggests how NH NongHyup Financial Group will move forward for the next 100 years in the future.
In the second part, the book depicts dynamic changes in NH NongHyup Financial Group by affiliates and business sectors.
It not only introduced NH NongHyup Financial Group affiliate, but retraced the footsteps of NH NongHyup Financial Group in business sectors such as global, digital, and risk management.
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