ESG Initiative Activities

KB Financial Group is actively participating in various ESG initiatives relevant in the financial sector to enhance our ESG strategy and performance.

TCFD
(Task Force on Climate-related Financial Disclosures)
  • Analysis of climate-related impacts by industry
  • Disclosure of the TCFD implementation (2020)
UNEP FI
(United Nations Environment Programme Finance Initiative)
  • Became the PRB signatory
  • Operate internal councils to support implementing tasks for the initiatives
    - Participation in the PRB and CCCA Working Group
  • ※ PRB Reporting and Self Assessment Template PDF
EU Taxonomy
Working Group
  • Participating in developing the guidelines for EU Taxonomy
WEPs
(Women's Empowerment Principles)
  • First to join WEPs among Korean financial companies
PCAF
(Partnership for Carbon Accounting Financials)
  • A global initiative developing standards and guidance on measuring and disclosing the greenhouse gas emissions financed by loans and investments (KBFG joined PCAF in April 2021
  • KBFG measured our financed emissions using PCAF methodology
SBTi
(Science Based Targets initiative)
  • A global initiative providing approach and methods on setting emissions reduction targets in line with climate science (KBFG joined SBTi in April 2021)
  • KBFG set carbon emissions reduction target using SBTi methods
  • First to receive official approval among all Asian financial institutions and all Korean companies
    ※VIEW DETAILS PDF
NZBA
(Net-Zero Banking Alliance)
  • Joined the NZBA as its founding member
  • Appointed as Steeing Group member
    representing Asia Pacific region
RE100
(Renewable Energy 100%)
  • Committed to sourcing 100% of electricity
    consumption from renewable energy
    (First to join RE100 among Korean
    financial institutions)

UNEP FI Working Group

To carry out tasks and achieve targets of UNEP FI Working Group, we have been operating internal councils since May 2020. We cooperate with major global financial companies to establish the global guidelines for managing the environmental risk in the financial industry.

Goals and Tasks of the Internal Council
Classification Goals Tasks
Principles for Responsible Banking (PRB) Analysis of impacts from product and investment activities on environmental and social sectors and advancement of the UNEP FI Tool
  • Define and collect data for impact analysis
  • Identify positive and negative environmental and social impacts by using impact identification tool
Collective Commitment to Climate Action (CCCA) Setup of goals by industry sector through benchmarking of climate-related data and advanced methodologies of global financial institutions
  • Draw up best practices of global financial institutions and analyze climate-related risks