BNK Financial Group Achieves SBTi Global Certification for Greenhouse Gas Reduction Targets

Certification Completed for Carbon Emission Reduction Targets in Financial Sector
Mid- to Long-Term ESG Strategy, Driving Force for 'Green Finance'

BNK Financial Group (Chairman Bin Daein) has received certification for its greenhouse gas reduction targets from the global initiative SBTi (Science Based Targets initiative).

SBTi is an organization that provides methodologies and consulting services to help companies set greenhouse gas reduction targets based on the latest climate science, in line with the Paris Agreement’s goal of achieving carbon neutrality by 2050. It was established as a joint project by the Carbon Disclosure Project (CDP), UN Global Compact (UNGC), World Resources Institute (WRI), and World Wide Fund for Nature (WWF).

BNK Financial Group has set a target to reduce its direct and indirect greenhouse gas emissions by 42% by 2030 compared to 2022, and to reduce its financed emissions by 35% by 2030 compared to 2022, in accordance with SBTi standards.

According to this carbon neutrality implementation plan, the group aims to achieve carbon neutrality in direct and indirect emissions by 2045, and in financed emissions by 2050.

In October of last year, BNK Financial Group established the ESG Data Platform (E), which measures internal emissions by converting electricity and fuel usage at headquarters, offices, and branches across all affiliates. Furthermore, it has set up a financed emissions measurement and management system based on the Partnership for Carbon Accounting Financials (PCAF) standards, thereby securing a framework for greenhouse gas measurement and monitoring.

Additionally, as part of the direction of its mid- to long-term ESG strategy established in April, one of the group’s strategic initiatives for “Green Finance (Touch Our Planet, realizing green finance that protects the environment)” includes: promoting the achievement of carbon neutrality targets, establishing a management system for eco-friendly financial products, advancing eco-friendly management, and participating in global environmental initiatives.

Kang Jonghun, Head of Group Management Strategy at BNK Financial Group, stated, “With this certification, as the leading financial group in the southeastern region, we will take responsibility for addressing the climate crisis and promote various greenhouse gas reduction activities,” and added, “We will actively support the transition to a low-carbon economy by expanding investment in green finance to achieve our carbon neutrality goals.”