President Moon Jae-in promised last month that the country will attain net-zero emissions by 2050. Against this backdrop, nine South Korean companies had won the top “Leadership A” grade in climate change leadership, according to the Carbon Disclosure Project. Photo courtesy of Presidential office

Shinhan Financial receives Leadership A for 7 straight years

The Carbon Disclosure Project (CDP) recently disclosed that a total of nine Korean companies had won the top grade in efforts to tackle climate change _ the “Leadership A” prize.

Included in the list are Shinhan Financial Group, Kia Motors, Hyundai Glovis, LG Display, LG Uplus, Samsung Electro-Mechanics, Hana Financial Group, Daelim Industrial, and Hyosung Advanced Materials.

Such efforts are in line with those of the Korean government, which promised last month to attain net-zero emissions by 2050.

Based in the United Kingdom, the CDP is an international non-profit organization designed to help companies and regional governments disclose their environmental impact.

Since the early 2000s, upside of 8,000 corporations have revealed their environmental date through the annual report of the CDP.

The Korea Sustainability Investing Forum (KSIF), which is the Korean partner of the CDP, praised Shinhan, which has maintained the Leadership A honor for seven consecutive years _ the longest winning streak in South Korea.

“As far as the anti-climate change leadership is concerned, Shinhan is a trailblazer because it started putting forth sincere efforts at a time when other players do not pay attention to the initiative,” a KSIF official said.

Last month, the country’s largest financial group disclosed its target of achieving carbon neutrality by 2050 through avoiding investments in customers whose carbon emissions are excessively high.

To buttress the net-zero emission agenda, the Seoul-based financial group vowed to increase its investment in renewable energy and adopt environmentally friendly standards in its investment portfolio.

By comparison, some companies like Hyundai Motor, Samsung Engineering and LG Corp could not remain at the top place in the CDP climate change criteria this year.