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KB wins highest ESG rating from MSCI

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By Lee Min-hyung

KB Kookmin Bank headquarters in Seoul / Courtesy of KB Kookmin Bank
KB Kookmin Bank headquarters in Seoul / Courtesy of KB Kookmin Bank
KB Financial Group has won the highest rating of AAA in MSCI's 2022 environmental, social and corporate governance (ESG) evaluation, the company said Wednesday.

According to KB, MSCI conducts a seven-grade ESG management evaluation on listed companies around the globe. Only about the top 6 percent of 198 banking industry players here and abroad can achieve the top rating, KB said.

"KB won the top rating for the first time among Korean financial companies," a spokesman at KB said. "We will keep fulfilling our social responsibility and enhance our role in ESG management."

The latest feat was the result of KB's diverse group-wide ESG efforts ― including its drive to become a carbon-free financial holding company ― KB said. The company displayed outstanding performance in evaluation areas such as corporate governance, eco-friendly finance and customer protection.

One of KB's representative ESG initiatives is the Green Wave 2030 strategy. Under the drive, the company pledged to expand its size of loans, investments and financial products related to ESG to 50 trillion won by 2030.

KB also set up its medium- to long-term Diversity 2027 strategy with a view to widening diversity in its recruitment.

The company is considered one of the most ESG-active financial firms here after establishing an ESG committee within its board of directors.



Lee Min-hyung mhlee@koreatimes.co.kr


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