Under the NEXT 2030 Management Principle (Platform Finance, Global Finance and ESG Finance), Hana Financial Group declared carbon neutrality aimed at applying it to the group's entire affiliated companies by 2050 to maximize the value of all stakeholders.
This is to actively participate in the government's "2050 Carbon Neutrality" goal and contribute to the expansion of the renewable energy market through the transition to a low carbon economy, a group official said.
At the same time, Hana Financial Group has declared a de-coal financing that will stop financing new projects to build coal-fired power plants at home and abroad and take over bonds.
In addition, by completing the establishment of the Environmental and Social Risks Management (ESRM) in the first half of the year, financial support will be curbed on projects with environmental destruction and human rights violations.
Hana Financial Group will also strengthen various processes to enhance transparency in the process of implementing ESG (Environmental, social, and governance) management.
First of all, the group is developing a 'Hana-Taxonomy' that strictly reflects the K-Taxonomy and global standards, and plans to transparently manage ESG's financial performance through reflection of environmental risk and application of environmental system product code.
It also plans to publish a TCFD report in June that reflects the guidance of the Task Force on Climate-Related Financial Disclosures (TCFD).
Hana Financial Group released the status of its response to climate change risks through the "2019 Sustainable Management Report."
The new report will include a detailed analysis of climate change risks and identifying high-risk sectors that the group should focus on in the future.
In addition, Hana Financial Group plans to increase its understanding and practical participation by conducting various ESG education and events for its executives and employees, focusing on internalizing ESG management.
Starting in March, ESG training for all executives and employees, including new employees, managers, and executives, will be planned and implemented to enhance the group's overall understanding of ESG and foster practical business capabilities.
Hana Financial Group, along with 30 global financial firms, participated in the 2018 United Nations Environment Programme Principles for Responsible Bank (UNEP PRB) legislation and has been included in the Dow Jones Sustainability Index (DJSI) Asia Pacific for five consecutive years.
In addition, in recognition of the excellence of governance, risk management, management strategies, carbon emission goals and performance management systems to cope with climate change in 2020, it won the highest grade in the CDP Climate Change Response Division announced by the Carbon Disclosure Project (CDP).
Besides, Hana Financial Group has been steadily incorporated into the financial sector's "carbon management sector honors" in recognition of various efforts since 2016 when it first participated in the CDP.
