On May 12, Shinhan Financial Group announced its participation in RE100, a global campaign aimed at converting 100% of the electricity used by all group companies to renewable energy.
The campaign has over 400 global companies as members, including Apple, Google, Microsoft, Samsung Electronics, and Hyundai Motors, who have pledged to contribute towards the global effort to combat climate change.
Shinhan Financial Group had previously announced the Shinhan Digital RE100 in March, which focuses on converting the power used by the group's data centers to renewable energy.
Six group companies, including Shinhan Bank, Shinhan Card, Shinhan Investment & Securities, Shinhan Life, Jeju Bank, and Shinhan Savings Bank, have completed Renewable Energy Certificate (REC) purchase contracts, with Shinhan Bank signing the first REC purchase contract in the domestic banking industry.
The group aims to achieve 100% conversion to renewable energy by 2040 through various methods such as green premium and Power Purchase Agreement (PPA).
“By joining the RE100 this time, we will seek more diverse ways to expand the base of renewable energy at home and abroad," said Jin Ok-dong, chairman of Shinhan Financial Group. "Shinhan Financial will continue to expand sincere ESG activities through active practice and accurate verification for the transition to renewable energy.”
