Shinhan recognized globally for sustainable management
By Kim Jae-won
Shinhan Financial Group said Monday that it has been listed on the Dow Jones Sustainability Index World (DJSI World) for the third year in a row.
The DJSI World, launched in 1999, is the first global index to track the leading sustainability-driven companies worldwide based on RobecoSAM’s analysis of financial, material, environmental, social and governance factors.
RobecoSAM, an investment specialist focused on sustainability investing, invited the world’s largest 3,400 companies from developed and emerging markets to take part in its annual corporate sustainability assessment.
“We had high scores this year in codes of conduct, corporate citizenship and philanthropy, financial stability and brand management based on our stable corporate governance,” Shinhan said in a statement.
Shinhan is the only Korean banking group listed on the index this year. In Asia, only two financial groups ― Shinhan and E. Sun Financial Holding of Thailand ― are recognized by the index.
Globally, 27 banking groups were listed on the index, including Citigroup of the U.S., French banking giant BNP Paribas and Barclays of the U.K.
By country, Brazil and Australia had four banks each on the index, followed by the U.K. and Spain, which each had three financial groups. Italy, France and the U.S. had two financial firms each.
Shinhan said it launched its Social Responsibility Management Committee this year for the first time among local financial groups. The company also has run programs to support the sustainability of its affiliates.
The announcement came a week after it was given the grade of A+ by the Korea Corporate Governance Service in its 2015 ESG management evaluation report. ESG is short for environment, social responsibility and governance. Shinhan was the only firm given the top grade among 828 companies listed on the KOSPI and KOSDAQ.
In addition, Shinhan joined CDP Korea’s Carbon Management Honors Club in 2014, as well as becoming one of 100 globally sustainable companies in the World Economic Forum this year.