Woori Financial wins climate award from parliament

Woori Financial Group said Friday its sustainable management efforts have won recognition at the 2023 Korea Green and Climate Award hosted by the National Assembly Forum on Climate Change.

The award, which marks its 13th anniversary this year, is one of the highest honors given to organizations or individuals that make a meaningful contribution to creating a sustainable society by setting an exemplary case.

Under the slogan “Good Finance for the Next,” Woori Financial has set net-zero goals to tackle climate change.

It aims to become carbon neutral by 2050 and offer 100 trillion won ($76 billion) in funding related to environmental, social, and governance efforts by 2030. It has also set up management systems for environmental and climate risks.

The financial giant has also carried out diverse projects to ensure biodiversity and restore the ecosystem. It was also the first Korean company to join the Taskforce on Nature-related Financial Disclosures that mandates climate-related financial disclosures.

In the meantime, Woori Financial held an international conference on environmental, social and corporate governance last year in November. In January this year, it also participated in the Finance Leadership Group on Plastic launched by the United Nations’ Environment Program Finance Initiative.