By Park Hyong-ki
Shinhan Financial Group has been accepted again by the Carbon Disclosure Project's (CDP) Carbon Management Honors Club due to its positive track record in dealing with climate change, the bank said Wednesday.
This marks the group's fifth consecutive year to be part of the CDP Club. Shinhan is the only local financial company to have joined the Honors Club.
The London-based CDP runs a global disclosure system, enabling governments and companies to measure and manage their environmental impacts, and issue self-reported data that can help improve the environment.
Around 7,000 companies participate in the CDP initiative.
The government and local companies started participating 11 years ago.
Last year, Shinhan Financial issued a report called "Eco Transformation 2020," aiming to invest 20 trillion won ($18 billion) in eco-friendly companies and startups, and reduce carbon emissions by 20 percent by 2030.
"We will seek to create a virtuous cycle by improving our environment and society as we deal with issues such as climate change, low growth and low youth employment," Shinhan Chairman Cho Yong-byoung said in a press statement.
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| Shinhan Chairman Cho Yong-byoung |
This marks the group's fifth consecutive year to be part of the CDP Club. Shinhan is the only local financial company to have joined the Honors Club.
The London-based CDP runs a global disclosure system, enabling governments and companies to measure and manage their environmental impacts, and issue self-reported data that can help improve the environment.
Around 7,000 companies participate in the CDP initiative.
The government and local companies started participating 11 years ago.
Last year, Shinhan Financial issued a report called "Eco Transformation 2020," aiming to invest 20 trillion won ($18 billion) in eco-friendly companies and startups, and reduce carbon emissions by 20 percent by 2030.
"We will seek to create a virtuous cycle by improving our environment and society as we deal with issues such as climate change, low growth and low youth employment," Shinhan Chairman Cho Yong-byoung said in a press statement.
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