KakaoBank Achieves First 'A Grade' in Korea ESG Standards Institute Evaluation

KakaoBank announced on the 28th that it received an A grade, a one-level increase from last year's (B+) rating, according to the ESG evaluation results from the Korea ESG Standards Institute.

The Korea ESG Standards Institute annually evaluates domestic listed companies in three areas?environment, social, and governance?to encourage sustainable growth and publishes ESG ratings.

KakaoBank has been evaluated since 2022, and this year secured an A grade in all three areas, achieving an integrated A grade for the first time.

In the "environment" category, the ESG Committee under the board of directors received high marks for its efforts in climate change response and strengthening environmental management. In the "social" category, it earned high evaluations for enhancing safety and health management, including obtaining the ISO 45001 certification for its safety and health management system. In the "governance" category, the establishment of an outside board of directors and a board secretariat, along with strengthened communication with stakeholders in the ESG domain, led to favorable evaluations.

A KakaoBank representative stated, "As a result of continuous efforts to strengthen environmental management and safety and health management for sustainable growth, we were able to receive a good evaluation. We will continue to do our best to create social value in various fields."

Meanwhile, KakaoBank also received an AA grade in the ‘2023 MSCI ESG Ratings’ announced by Morgan Stanley Capital International (MSCI). KakaoBank has been evaluated by MSCI since 2021, receiving a BB grade in 2021, a BBB grade in 2022, and an overall AA grade in 2023, successfully upgrading its rating for three consecutive years.