IBK, Publishes Sustainability Management Report... "Strengthening ESG Disclosure"

Deriving Critical Issues Such as Climate Change Response, Financial Consumer Protection, and Information Security

IBK Industrial Bank announced on the 28th that it has published the 2024 Sustainability Management Report, which contains its ESG (Environmental, Social, and Governance) management performance.

Through the report, the bank disclosed major ESG achievements such as obtaining certification from the Science Based Targets initiative (SBTi), establishing an RE100 fund, and issuing a gender bond.

This year's report was reorganized based on the results of the Double Materiality Assessment to enhance stakeholders' utilization of ESG information. The Double Materiality Assessment identifies material issues by considering both environmental and social impacts as well as financial impacts.

Through the Double Materiality Assessment, IBK Industrial Bank identified key issues such as ▲climate change response ▲financial consumer protection ▲strengthening information security and personal data protection, and provided detailed ESG information accordingly.

In particular, this report reflects the latest global ESG disclosure standards, including the Task Force on Climate-related Financial Disclosures (TCFD) guidelines and the International Sustainability Standards Board (ISSB) climate-related disclosure standards (IFRS S2), expanding the scope of greenhouse gas emissions disclosure to subsidiaries.

An IBK Industrial Bank official stated, “We have strived to provide high-quality information to stakeholders in accordance with the enhanced ESG disclosure standards,” and added, “We will continue to activate communication with stakeholders on core ESG issues.”