Yoon Seok-heon, Financial Supervisory Service Chief, "Will Ensure Disclosure of Private Climate and Environmental Information"

Financial Supervisory Service Holds International Conference on Green Finance with Ewha Womans University

[Asia Economy Reporter Kangwook Cho] Yoon Seok-heon, Governor of the Financial Supervisory Service, stated on the 22nd, "We will establish guidelines for sustainability management reports to ensure that climate and environmental information in the private sector is systematically disclosed."

Governor Yoon made these remarks during the opening address at the 'Future of FIN International Conference' held at Ewha Womans University in Seoul, which focused on green finance. He said, "An international consensus has been forming around 'green finance' and, further, 'sustainable finance.'"

He explained, "Last year, the Network for Greening the Financial System (NGFS) made six recommendations to central banks and supervisory authorities to prepare for climate change risks. One of the key recommendations is the assessment of climate risks within the financial system and integrating that assessment into the prudential supervision process."

Governor Yoon emphasized, "The Financial Supervisory Service has developed a climate change stress test model that comprehensively considers Korea's climate change response plans and financial environment, and we will continue to improve it. We must all collaborate to establish a monitoring system capable of managing and supervising climate risks."