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| Employees from Hana Financial Group's overseas operations attend a session on environmental, social and corporate governance (ESG) management at "2023 Hana Culture Global Workshop" held at Hana Global Campus in Cheongna, Incheon, Jan. 30. Courtesy of Hana Financial Group |
By Sah Dong-seok
Hana Financial Group is gearing up to emerge as a leader in environmental, social and corporate governance (ESG) management, as demand grows for companies to act on their responsibility to give back to society.
More specifically, the group is seeking to establish a foundation for ESG finance while trying to expand investment for low-carbon and eco-friendly industries. At the same time, Hana Financial is continuing its efforts to support both multicultural families in need of assistance and the creation of child care centers.
All these activities are related to its medium- to long-term strategy to speed up its ESG management activities. As part of such efforts, Hana Financial created the Sustainability Management Committee within its board of directors in March 2021 to develop and implement policies for sustainability management, including ESG management.
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| A computer-generated image of the interior of the Hana Financial Group headquarters to be built in Cheongna, Incheon / Courtesy of Hana Financial Group |
Under its long-term vision of "Big Step for Tomorrow," Hana has established and implemented "2030 & 60" and "Zero & Zero" goals. The "2030 & 60" goal envisions providing 60 trillion won ($44.8 billion) in lending, investments and funding for green and sustainable industries by 2030. As of December 2022, a total of 18.5 trillion won ― 4.3 trillion won in bonds, 12.4 trillion won in loans and 1.8 trillion won in investments ― was offered as ESG support.
By 2050, Hana Financial also aims to achieve zero carbon emissions in its workplaces and zero project financing for the coal industry in its efforts to respond to climate change. The goal was adopted at a meeting of the Sustainability Management Committee in April 2022.
The group's commitment to ESG management has been recognized both in Korea and abroad. Last December, the 2022 Dow Jones Sustainable Index (DJSI) evaluation released by S&P Global scored it 87 points, the highest in the banking industry. The group also ranked highly in the DJSI World Index.
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| Hana Financial Group Chairman Ham Young-joo, left, presents strategies for the group's "mutual growth" with customers and the society at the meeting with the group executives and employees, March 27. Courtesy of Hana Financial Group |
Hana Financial is also running various programs to achieve gender equality and resolve diversity issues. In particular, 36 female leaders were fostered last year through Hana Waves, its unique program to nurture next-generation female leaders, which requires participants to undergo a five-month career training course covering areas such as leadership, strategy and communication. In 2021, the program trained 34 women, four of whom have since been promoted to executive-level positions within the group and its key affiliates.
As global efforts to channel private capital into sustainable investment continue, Hana Financial is ready to take part in this initiative. This year, it plans to focus on developing a computing system that would make it possible to classify green assets based on the country's green taxonomy, a list of economic activities that are designated as being environmentally sustainable.
