We will realize banking that changes the world by promoting environmentally and socially responsible management and good governance.
In 2020, KB Financial Holding became the first company in the financial sector with an ESG Committee under the Board of Directors and is further developing ESG management through organic communication with each affiliate's ESG council. Furthermore, KB Financial Group has established an ESG organization for each affiliate to assist each company in ESG management.
The ESG Committee is the highest executive authority for the Group's ESG sector and establishes Group strategies and policies on non-financial factors (environmental, social, and governance) that impact our corporate value and sustainability. It also sets operational limits for annual contributions and manages and supervises the implementation of ESG strategies and policies to facilitate practical ESG management. The ESG Committee is composed of all directors.
The ESG Council is an organization that supervises the ESG management of each affiliate, establishes the ESG strategic direction of each company, and pursues collaboration with related departments for the effective implementation of strategic tasks.In addition, it periodically monitors the implementation progress of ESG strategic tasks and discusses major activities such as ESG products and investments for each company. Furthermore, the ESG Council voluntarily reports to the BODs of each affiliate at least once a year on the major status. They also report the ESG implementation status of affiliates to the 'Group Expansion Management Committee' on a quarterly basis in order to share the status of ESG implementation among affiliates and strengthen group-wide ESG management.
KB Financial Holdings and its 11 affiliates have formed ESG organizations to support the BOD and ESG committees. Each organization shares its major ESG initiatives through the 'One-Firm Strategy Meeting' and deliberates on collaboration among business divisions such as lending, investment, and insurance.