Yang Jonghee Emphasizes Finance That Grows and Coexists With the People
Aims to Deliver a Better Environment and More Opportunities to the Next Generation
KB Financial Group announced on June 30 that it has published the "2024 KB Financial Group Sustainability Report," which transparently discloses the group's sustainable management activities and achievements to a wide range of stakeholders, including customers, society, and investors.
The "2024 KB Financial Group Sustainability Report" contains sustainability-related information based on KB Financial Group's mid- to long-term roadmap and implementation framework. It faithfully reflects the disclosure requirements of the global standard ISSB (International Sustainability Standards Board) and the draft disclosure standards of the KSSB (Korea Sustainability Standards Board).
KB Financial Group has continued its sustainable management activities for customers, local communities, and other stakeholders based on three strategic directions: promoting carbon neutrality (KB Net Zero S.T.A.R.), expanding ESG finance (KB Green Wave 2030), and enhancing diversity (KB Diversity 2027).
This report details practical inclusive finance activities for fulfilling social responsibility management, including: alleviating the financial burden on small business owners and small- and medium-sized enterprises; supporting the economic independence of financially vulnerable groups; improving financial accessibility; efforts toward customer-centric management to protect consumer rights; and supporting the creation of a sustainable startup ecosystem.
In addition, KB Financial Group separately disclosed key information related to public social policies, such as family-friendly work systems and a safe workplace environment, emphasizing its leading role in alignment with public policy.
Furthermore, based on a financial materiality assessment, the group identified five major issues that could significantly impact investors' decision-making: risk management, response to the climate crisis, inclusive finance, financial consumer protection, and digital innovation and technology. These were explained according to the four core elements of sustainability disclosure standards: governance, strategy, risk management, and metrics and targets.
In the area of climate crisis response, KB Financial Group disclosed proactive climate crisis management measures, including "financial emissions" that have expanded the scope of measured assets to overseas government bonds, and a "mid- to long-term climate resilience strategy" established based on a more advanced "climate crisis scenario analysis" compared to the previous year.
Notably, this report goes beyond simply disclosing ESG information. To provide differentiated information tailored to various users, it was prepared as two separate reports: one focusing on easy-to-understand explanations (for general stakeholders), and another centered on information required by investors (for investors).
In his message, Chairman Yang Jonghee stated, "Finance is not just about the intermediation of funds; it is a crucial foundation that connects individuals' lives, the future of companies, and, further, the sustainability of society as a whole." He added, "KB Financial Group will practice finance that grows and coexists with the people, and will do its utmost to deliver a better environment and more opportunities to the next generation."
KB Financial Group's sustainability report is available on the KB Financial Group website.
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