[Asia Economy Reporter Oh Hyung-gil] Shinhan Life announced on the 19th that it has joined the industry's first 'Net-Zero' insurance alliance.
The Net-Zero alliance is a global insurance coalition aimed at achieving carbon neutrality, formed by global insurers and reinsurers such as AXA, Allianz, and Swiss Re, with the goal of reaching carbon neutrality by 2050.
Member insurers and reinsurers set individual interim targets every five years to reduce direct and indirect carbon emissions from underwriting insurance contracts and financial asset investments to zero, and practice net-zero activities such as reporting carbon emissions according to global standards.
Shinhan Life plans to actively support the industry's achievement of carbon neutrality by promoting carbon neutrality in product and service development, insurance contract management and underwriting, and asset management strategies.
Shinhan Life is carrying out various ESG (Environmental, Social, and Governance) management activities based on the ESG slogan "Right Actions for a Wonderful World" announced by Cho Yong-byeong, Chairman of Shinhan Financial Group.
In 2019, it obtained the 'ISO 14001' certification, the highest level in the series related to environmental management systems established by the International Organization for Standardization (ISO), and last year joined the UN Principles for Sustainable Insurance (PSI).
Seong Dae-gyu, CEO of Shinhan Life, stated, "We decided to join the Net-Zero alliance to actively participate in Shinhan Financial Group's eco-friendly strategy 'Zero Carbon Drive' and to take a leading role in global initiatives. We will continue Shinhan Life's sincere commitment to ESG management."
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