NH Nonghyup Bank Signs Business Agreement on SME ESG Management with NICE D&B

On the 10th, at the headquarters of NICE D&B located in Mapo-gu, Seoul, Kim Chun-an, Vice President of NongHyup Bank (right), and Kang Yong-gu, CEO of NICE D&B (left), held a business agreement ceremony to promote ESG management among small and medium-sized enterprises and took a commemorative photo. / Photo by NongHyup Bank

[Asia Economy Reporter Eunju Lee] NH Nonghyup Bank announced on the 11th that it signed a "Business Agreement for the Expansion of ESG Management in Small and Medium Enterprises" with NICE D&B on the 10th.

This agreement was made to support small and medium enterprises in actively responding to the rapidly changing industrial environment due to strengthened carbon neutrality regulations and the expanding demand for supply chain ESG management.

Nonghyup Bank plans to provide solutions that can strengthen the ESG capabilities of small and medium enterprises by diagnosing the status and identifying improvement items in the Environmental (E), Social (S), and Governance (G) sectors for client companies in cooperation with NICE D&B.

Kim Chun-an, Vice President of the Agriculture and Green Finance Division, said, "Carbon neutrality for financial institutions focuses on reducing carbon emissions in asset portfolios, so the reduction of corporate carbon emissions directly translates into Nonghyup Bank's carbon emission reduction performance. Therefore, we will do our best to achieve carbon neutrality by 2050 together with our client companies."

Meanwhile, Nonghyup Bank is promoting various ESG financial supports, including financial assistance for companies transitioning to renewable energy and those reducing carbon emissions, through business agreements with the Korea Energy Agency and the Korea Environment Corporation to support low-carbon management by companies.