Climate Change Initiatives
Status of Climate Change Initiatives
Beginning with its joining of CDP in March 2007, Shinhan Financial Group has been active in joining climate change initiatives, such as PCAF, SBTi, TCFD, and Equator Principles, to better respond to climate change management, public disclosure, target setting, and emissions measurement.
| Methodology | Measurement of carbon emissions of asset portfolio | Target setting | Public disclosure | Risk management | Evaluation of activities in response to climate change |
|---|---|---|---|---|---|
| Initiative |
Partnership for Carbon |
Science Based |
Task Force on Climate-related 
Taskforce on Nature-related |
Equator Principles |
Carbon Disclosure Project |
| Outline | Methodology for measuring carbon emissions of financial assets developed by PCAF |
Methodology on setting a reduction goal based on the 2℃ scenario for financial assets |
[TCFD] Methodology on public disclosures on corporate impact in relation to climate change [TNFD] Methodology on public disclosures on corporate impact in relation to nature and biodiversity |
Framework for identifying environment/ society-related risks Set minimum obligation standard for due diligence |
Evaluate corporate activities in environment-related actions, including climate change |
| Status |
Joined November 2020
Measure carbon emissions of financial assets of the Group and the Group subsidiaries |
Joined November 2020
Set the reduction targets of financial assets carbon emissions |
[TCFD] Announced the support for the recommendations of TCFD in 2018, and disclosed information in the ESG Report in 2019 [TNFD] Joined the TNFD Forum in 2022 |
Established the process in 2019
Joined in 2020 and applied the Principles to the projects subject to screening |
Evaluated since 2010
Became the first Korean financial institution to earn Leadership A for 7 consecutive years |