ESG Initiatives

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.

Initiative

Details

UN Global Compact

The world’s largest voluntarily formed private initiative for promoting sustainable management and the implementation of the ten principles in relation to human rights, labor conditions, environment, and anticorruption.

CDP
(Carbon Disclosure Project)

A global initiative on information disclosure and an evaluation agency led by financial institutions around the world in relation to environmental sectors such as climate change, water, and forest resources.

UNEP FI
(United Nations Environment
Programme Finance Initiative)

A global initiative participated in by over 300 leading financial institutions and the only international partnership between UNEP and international financial sectors.

TCFD
(Task Force on Climate-related
Financial Disclosure)

An initiative that recommends corporations to incorporate climate change risk into their financial information.

UN PRB
(United Nations Principles for
Responsible Banking)

As an international agreement that stipulates financial industry’s roles & responsibilities for implementation of the Partis Agreement and the UN Sustainable Development Goals (SDGs), it presents what leading role the finance should play for sustainable future

※ PRB Reporting and Self Assessment 2023 PDF

CCCA
(Collective Commitment to
Climate Action)

Agreement for implementing UN PRB and for joint response from banks such as low-carbon, climate-friendly activities according to Paris Agreement

WEPs
(Women's Empowerment
Principles)

A joint initiative undertaken by UN Women and UN Global Compact for women’s empowerment.

BNBP
(Biz N Biodiversity Platform)

An initiative to help corporations recognize their global and social responsibility for biodiversity preservation and utilization, ensure biodiversity across all areas of activities from purchase to production, distribution, and assessment, and thereby driving action towards sustainability.

CoREi
(Corporate Renewable Energy
initiatives)

An initiative designed to help corporations voluntarily pledge to move into renewable energy and establish and implement renewable energy-related targets.

PCAF
(Partnership for Carbon
Accounting Financials)

An initiative designed to develop unified standards for assessing and reporting GHG emissions of the financial industry’s investment projects and to encourage financial institutions to follow the Paris Agreement.

SBTi
(Science Based Targets initiative)

An initiative designed to provide guidelines and methods for corporations to set GHG emissions targets in line with the Paris Agreement and ensure their climate-conscious activities.

※ First to receive official approval among all Asian financial institutions and all Korean companies(2021.10) → VIEW DETAILS PDF

NZBA
(Net-Zero Banking Alliance)

A leadership group of global banks with the aim of bringing global GHG emissions to net-zero by 2050.

RE100
(Renewable Energy 100%)

Global campaign on converting 100% of enterprise power into renewable energy

TNFD
(Task Force on Nature-related
Financial Disclosures)

Global consultative body launched to protect nature and biodiversity by reducing the impact companies have on ecosystems

GFANZ
(Glasgow Financial Alliance
for Net Zero)

Global alliance for net zero transition and overcoming climate crisis through finance (Joined GFANZ in 2021, and Joined as a foundation member of GFANZ APAC Network in 2022)

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.