KB wins eco-friendly award

KB Financial Group headquarters in Seoul / Courtesy of KB Financial Group

By Lee Min-hyung

KB Financial Group Yoon Jong-kyoo

KB Financial Group has won a renowned eco-friendly award for the third consecutive year in recognition of its efforts to fulfill eco-friendly management, the financial holding firm said Tuesday.

According to the company, the group was named for the “Carbon Management Sector Honors” in the financial sector from the Carbon Disclosure Project's (CDP) 2019 Climate Change assessment. The CDP is a nonprofit organization based in the United Kingdom which discloses environmental information of major companies.

In March, KB Financial Group established an environmental, social and governance (ESG) committee ― headed by its Chairman Yoon Jong-kyoo ― to be more responsible for eco-friendly management. All board members of the company have since joined the committee.

“KB Financial Group will stand at the forefront of protecting the environment by coping swiftly with climate change and fulfilling the ESG management,” an official from the firm said. “We will also carry out positive roles for our customers and the younger generation to follow their dreams for a clean environment.”

In 2019, more than 8,000 companies across the globe shared their eco-management information through the CDP. The Korean committee of the organization named exemplary firms in terms of their swift and agile climate change management in nine sectors including financial, among the nation's top 200 companies by market capitalization.

Yoon has underlined the importance of ESG management since taking office in 2014. The group has been an active player in the global initiative for environmental protection by taking part in a series of international organizations' eco-friendly projects.

The company has become the nation's first signatory to the United Nations Environment Program Finance Initiative (UNEP FI). KB is making joint efforts with 31 global organizations to come up with measures for companies to enhance their eco-friendly business volume.

“We are going to enhance our commitment for building a more sustainable and eco-friendly finance environment by teaming up with global organizations,” the official said.