Shinhan Financial Group Chairman Cho Yong-byeong participated in the Marrakech Partnership, an official event of the 2021 United Nations Climate Change Conference (COP26) being held in Glasgow, UK on the afternoon of November 3 and announced Shinhan Financial Group's carbon neutral strategy.
The Marrakech Partnership is one of COP26's key events to strengthen cooperation and diffusion of climate action for governments, businesses and private investors. The event will be held from November 3 to 11, where various topics such as finance, energy, industry, and law will be discussed.
On the first day, November 3, the Finance Day event was held to discuss the role of finance, the most important theme for carbon neutrality.
The event was attended by CEOs of major financial institutions leading global carbon neutrality. In particular, Shinhan Financial Group Chairman Cho Yong-byeong was invited to the COP26 event for the first time as a representative of a private Asian financial company and discussed the topic of low-carbon transition in the financial sector with representatives of financial institutions.
At the event, Chairman Cho introduced “Zero Carbon Drive,” a carbon-neutral strategy that Shinhan Financial Group declared for the first time in East Asian finance.
He explained the carbon emission measurement method and reduction target of Shinhan Financial's asset portfolio. He also announced that Shinhan will accelerate the low-carbon transition by actively supporting industries with high carbon emissions, such as power generation, steel, petroleum, chemical, and cement.
"Shinhan Financial Group will think more about the role of finance for carbon neutrality in the future and does its best to accelerate the country's low-carbon economy," said Chairman Cho.
