Hana Financial Group Participates in Developing 'Climate Risk Management Software'... Expanding ESG Management

Hana Financial Group announced on the 31st that it will participate in the development of 'Climate Risk Management Software (SW)' in collaboration with weather big data platform company Kweather to promote ESG (Environmental, Social, and Governance) management and achieve carbon neutrality by 2050.

The climate risk management software will be developed as a universal software applicable across the entire industry. It will enable analysis and management of overall climate risks, including physical risks caused by abnormal weather phenomena such as typhoons and floods in corporate supply chains, and transition risks arising from the implementation of greenhouse gas reduction policies, thereby contributing to enhancing the climate risk management capabilities of domestic companies.

The software's reliability was enhanced by applying 'Frontier-1.5D,' a private-sector-led climate risk management model jointly developed by Hana Financial, the Financial Supervisory Service, the British Embassy, Ewha Womans University, and major domestic companies.

Through this development participation, Hana Financial plans to strengthen data management of financial emissions (carbon emissions from asset portfolios) and help small and medium-sized enterprises improve their carbon emission management levels to avoid disadvantages in transactions with primary suppliers in the supply chain.

A representative from Hana Financial's ESG Planning Team stated, "In August last year, Hana Financial signed a business agreement with Incheon Metropolitan City Hall and the Financial Supervisory Service to support ESG management for small and medium-sized enterprises and is currently providing ESG consulting tailored to their needs. Through this development, we will actively support SMEs in establishing more systematic ESG response strategies."