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| Samsung Card ESG report image / Courtesy of Samsung Card |
By Anna J. Park
Samsung Card has published its annual ESG report, Thursday, summarizing the company's achievements and progress in management based on environmental, social and corporate governance principles.
The report has particularly stressed overall achievements in climate change responses, innovative digital finance and ESG-principled capital increase. For instance, the card company previously launched eco-friendly credit cards made with recycled plastics, along with environmental campaigns for both its employees and customers.
The firm has also been active in raising capital through ESG-principled bonds and debt.
It has been focusing on raising capital through ESG bonds, aiming to create environmental and social value through the capital increase. The company raised 100 billion won ($76.3 million) last September and another 170 billion won in June this year by issuing ESG-based bonds.
Samsung Card was also the first local card business to succeed in issuing foreign currency-denominated ESG asset-backed securities (ABS) in March last year. The firm issued another ESG-principled ABS worth 280 million euros, or 367.9 billion won, in February this year as well. The card company also issued 100 billion won worth of commercial paper based on ESG goals.
Since last year, the firm's annual ESG report has been following the criteria set by the Global Reporting Initiative (GRI) Standards as well as the Sustainability Accounting Standards Board (SASB), for the first time among local card companies.
"Samsung Card publishes its ESG report, aiming to provide credible information about the firm's ESG-related achievements and progress to various stakeholders," an official from the firm said. "The company will continue to implement ESG activities, hoping to contribute to creating a sustainable future."
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