We are very excited to announce the joining of Shinhan Financial Group as a supporter of the partnership! The Partnership for Biodiversity Accounting Financials (PBAF) has been growing quickly in the past few weeks and with the joining of Shinhan Financial Group we are nearing 40 partners and supporters, a big milestone for the partnership.
Cho Jeong-hoon, Head of ESG division in Shinhan Financial Group states the importance of joining PBAF: “Biodiversity is one of the important ways to respond to the climate crisis facing mankind. Just as Shinhan Financial Group was able to quantitatively manage the financed emissions by joining the PCAF and applying it to the system, we expect that natural capital will be systematically managed by joining the PBAF. For Shinhan, ESG management is neither a “good” thing to do nor a “must” thing. Rather it is a “mission” or a natural thing to do. Just as we pursue biodiversity together with our stakeholders, Shinhan will do our best to solve common human problems through ESG with the power of finance.”
The PBAF team welcomes Shinhan Financial Group to the partnership and is looking forward to a valuable collaboration.
About Shinhan Financial Group
Shinhan Financial Group (“Shinhan”) is one of the leading financial institutions in Korea in terms of total assets, revenues, profitability and capital adequacy, among others. Incorporated in 2001, Shinhan is the first privately-held financial holding company to be established in Korea. As of June 30, 2022, Shinhan has 16 direct subsidiaries offering a wide range of financial products and services, including commercial banking, corporate banking, private banking, credit card, asset management, brokerage and insurance services. Under its corporate vision that reads “We believe finance should be More Friendly, More Secure, More Creative,” Shinhan is empowering its customers through finance. Shinhan is also further accelerating the pace of ESG management across its strong online and offline channels, which adds to more than 1,700 channels in Korea and 244 channels across 20 countries overseas, to take action against climate change, resolve environmental and social issues, and ultimately “Do the Right Thing for a Wonderful World.” For more information please visit: http://www.shinhangroup.com/en/crm/csrreport/csr_subsidiary.jsp
About the Partnership for Biodiversity Accounting Financials (PBAF)
The Partnership for Biodiversity Accounting Financials (PBAF) develops the ‘PBAF Standard’. The PBAF Standard enables financial institutions to assess and disclose impact and dependencies on biodiversity of loans and investments. PBAF provides practical guidance to financial institutions on biodiversity impact and dependency assessment and defines what is needed in order for these assessments (either or not conducted by data providers) to deliver the right information to financial institutions. With this information financial institutions can effectively manage and report on biodiversity related risks and opportunities and contribute to the conservation and sustainable use of biodiversity. For more information please visit: https://pbafglobal.com/about-pbaf