Shinhan recognized for sustainable biz practice
Shinhan Financial Group has been included in the Dow Jones Sustainability Indices (DJSI) for the seventh consecutive year, the group said Wednesday.
This is a notable feat highlighted further by winning an award from the Korea Corporate Governance Service (KCGS) for sustainable business practices for the fifth year in a row.
Created jointly by S&P Dow Jones Indices and RobecoSAM, the DJSI selects the most sustainable companies from across 61 industries every year.
For this year’s review, the 2,296 largest companies in terms of market cap were reviewed.
According to the DJSI website, the indices serve as a benchmark for investors as they show how well a company integrates sustainability considerations into their portfolios. They also provide an effective engagement platform for investors who wish to encourage companies to improve their corporate sustainability practices.
“We are happy that we were recognized for our business practice that prioritizes sustainability as part of efforts to boost long-term shareholder value. We will continue to enhance corporate responsibility,” a Shinhan official said.
Shinhan also won the top grade in the annual ESG Evaluation. ESG refers to environmental, social and governance, the three main factors used to determine corporate sustainability.
The recognitions come amid a group-wide, continued ESG initiative led by Shinhan Financial Group Chairman Cho Yong-byoung who announced the principles for responsible banking at an event organized by the United Nations on its Environment Program Finance Initiative in November 2018.