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| Shinhan Financial Group Chairman Jin Ok-dong speaks during the U.N. Environment Programme Finance Initiative's (UNEP FI) Asia-Pacific roundtable at Conrad Seoul Hotel in Yeouido, Seoul, Wednesday. Courtesy of Shinhan Financial Group |
By Yi Whan-woo
Two banking group chairmen, Jin Ok-dong of Shinhan and Ham Young-joo of Hana, participated in a regional roundtable hosted by the U.N. Environment Programme Finance Initiative (UNEP FI), a coalition body between the United Nations Environment Programme (UNEP) and global financial services companies, in Seoul, Wednesday.
This is the first time that the UNEP FI held its roundtable in Korea. Shinhan Financial Group and Hana Financial Group are among more than 450 corporate members of the initiative led by UNEP, the U.N.'s environmental arm, with the goal of bolstering the roles of finance in sustainable development.
The meeting took place at Conrad Seoul Hotel, where participants from the Asia-Pacific region shared their thoughts on ways to better consider environmental, social and corporate governance (ESG) practices and other sustainability efforts in making decisions on investment.
The topics discussed included climate change, biodiversity and regulation overhaul that serves the interests of financial firms in the region.
Chairman Jin underlined the importance of "putting ESG principles into action, not just into plan or declaration."
"In that regard, Shinhan Financial Group will make efforts to raise awareness toward sustainable finance in the Asia-Pacific and bolster our action plan," the chairman said.
He said the company accordingly will enhance sponsorship for the UNEP FI and also offer a wide range of support mechanisms for other environmental organizations in the region.
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| From left, U.N. Environment Programme Finance Initiative (UNEP FI) Head Eric Usher and Hana Financial Group Chairman Ham Young-joo pose together during UNEP FI's Asia-Pacific roundtable at Conrad Seoul Hotel in Yeouido, Seoul, Wednesday. Courtesy of Hana Financial Group |
Chairman Ham delivered a keynote speech, vowing to lead Hana Financial Group to "take the forefront" in expanding investment in biodiversity-related fields.
"The years of pandemic and depletion of natural resources make protecting biodiversity more important than ever," he said, adding the banking group will actively join global frameworks, such as the Taskforce on Nature-related Financial Disclosures (TNFD) and Partnership for Biodiversity Accounting Financials (PBAF).
He went on to say, "Hana Financial Group will faithfully take up our environmental and social responsibilities in the finance sector by setting up agenda and policies on biodiversity."
The roundtable was held in a face-to-face format for the first time since the COVID-19 pandemic began.
In addition to the financial firms, Green Climate Fund (GCF), World Wildlife Fund (WWF) and other international entities on sustainability participated in the event.
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