Shinhan Bank Publishes '2024 ESG Report'

Shinhan Bank Publishes 2024 ESG Report
This Year's Report Highlights the Keyword "Finance, Move Together"

Shinhan Bank announced on the 7th that it has published the "2024 Shinhan Bank ESG Report," which contains the bank's major ESG activities and achievements over the past year.

Shinhan Bank was the first domestic commercial bank to publish an ESG report in December 2021. The bank has been pioneering new changes in ESG communication every year, including the industry's first "ESG Highlights Report" and the boldly innovative "ESG POP UP 10," which breaks away from the traditional format of ESG reports in the banking sector.

The "2024 Shinhan Bank ESG Report" was published exclusively online without a paper version as part of ESG practice and posted on the bank introduction section of Shinhan Bank's website. An English version is also planned to be added to the website in March.

This report, under the keyword "Finance, Move Together," includes three reports: ▲ESG Story Book ▲ESG Fact Book ▲ESG Special Book, which document the activities undertaken to create a better tomorrow through finance.

First, the "ESG Story Book" presents Shinhan Bank's core ESG achievements for 2024 in an easy-to-understand storytelling format aimed at a broad range of stakeholders including customers, shareholders, and the media. It interestingly conveys topics such as green finance for achieving carbon neutrality and fostering green industries, win-win finance emphasized by the banking sector last year, and a healthy planet and warm society created through finance, using the character "Shinhan Friends" and vivid on-site photos.

Next, the "ESG Fact Book" was produced to establish a standard for banking sector ESG reports, reflecting the reality that the scope and content of ESG reports vary by bank. By establishing Shinhan Bank's own ESG report preparation principles, it is expected to enhance work productivity while maintaining the highest level of ESG evaluation ratings in the financial sector with an optimized format and structure for responding to domestic and international ESG assessments.

Lastly, the "ESG Special Book" separately publishes a climate finance report, a major global ESG topic. It was prepared based on global climate change frameworks such as TCFD and ISSB, covering ▲governance ▲strategy ▲risk management ▲indicators and reduction targets, and details Shinhan Bank's highly advanced climate finance achievements, including climate risk scenario analysis, the most sophisticated among domestic financial institutions.

A Shinhan Bank official said, "ESG is Shinhan Bank's firm promise for a better tomorrow for customers and society," adding, "We will continue to create a sustainable future for all with sincerity and our best efforts."

Meanwhile, Jin Ok-dong, Chairman of Shinhan Financial Group, emphasized the "role as a corporate citizen" by presenting the main strategic directions for this year through the 2025 New Year's address and management forum.

The group is striving to become a sincere and sustainable top-tier Shinhan by leading the resolution of social issues through finance and activities such as "practice-based social contribution."

In line with this, Shinhan Bank changed its ESG Planning Office to the SDGs Planning Office through an organizational restructuring earlier this year and plans to further develop ESG projects in accordance with the 17 goals of the UN SDGs, which present the direction humanity should take, to implement sustainable management strategies.