Woori Bank to Reduce 2200 Tons of Annual Greenhouse Gas Emissions through Renewable Energy Initiatives

Woori Bank announced on the 17th that it signed a Power Purchase Agreement (PPA) with Korea Water Resources Corporation on the 14th to reduce greenhouse gas emissions. The Power Purchase Agreement (PPA) is a system where power users purchase renewable energy generated from water resources, etc., from power producers to replace their existing electricity usage.

The signing ceremony took place at Woori Bank's headquarters with key officials from both organizations, including Yoon Seok-dae, President of Korea Water Resources Corporation, and Jeong Jin-wan, CEO of Woori Bank.

Woori Bank will be the first in the banking sector to collaborate with Korea Water Resources Corporation to replace part of the electricity used in its headquarters building with renewable energy. This is expected to reduce approximately 2,200 tons of greenhouse gases annually. Going forward, both institutions plan to explore various cooperation measures to expand the renewable energy base and realize environmental value beyond simple energy transactions.

Jeong Jin-wan, CEO of Woori Bank, stated, "We have actively promoted the installation of solar power facilities and employee campaigns to increase the use of renewable energy," adding, "We will continue to take the lead in practicing ESG management in response to carbon neutrality and climate change."