[Sponsored Report] CSR awards for Shinhan’s sustainable managementSustainable management has become the top priority of an increasing number of companies around the world. This fairly recent trend encourages investment in both financial and nonfinancial dimensions, such as ethical, environmental and social issues, to achieve long-term growth.
Industry watchers are thus paying keen attention to Shinhan Financial Group, a leading promoter of corporate social responsibility (CSR) in the financial industry. Since Chairman Han Dong-woo took the management helm in 2011, the company has set forth a motto of “compassionate finance.”
Its efforts to make finance “warmer” have ranged from being the first domestic bank to publish a corporate responsibility report in 2005 to operating a CSR council consisting of every chief executive from Shinhan subsidiaries. The council serves as the highest decision-making body for the group’s CSR activities.
Looking beyond numbers has led to better domestic and international recognition for Shinhan Financial Group. It was recently awarded the Korean Readers’ Choice Awards at the Korean Sustainability Conference 2013, according to the company. The award is given to companies that communicate their CSR activities effectively to stakeholders such as consumers, partner companies and employees.
Shinhan received high scores for forming strategies related to compassionate financing, social contribution and environmental management, as well as for promoting coexistence with partner companies and reporting on the main issues of its subsidiaries.
For five straight years since 2009, Shinhan Financial Group has also been ranked No. 1 in the Korean banks category on the Dow Jones Sustainability Korea Index. The company was also included in the DJSI Asia-Pacific for five years in a row.
This year, Shinhan was included in DJSI World; the first time for a domestic financial group. It received favorable evaluations in ethical management, customer relations management, environmental performance and engagement of stakeholders.
DJSI World is a globally authoritative index announced by America’s Dow Jones and Switzerland’s RobecoSAM, which evaluates the sustainability of 2,500 global companies. Among the 333 companies featured in DJSI World this year were 23 from the banking industry, such as Barclays, ANZ and Westpac. Shinhan Financial Group was the only financial group in Korea to be included.
As the DJSI is widely used by global financial companies as a standard for “socially responsible investing,” Shinhan’s stock value and brand image will continue to improve.
“Compassionate finance is all about making the world a better place with the power of finance,” said Chairman Han Dong-woo. “Shinhan Financial Group will keep pursuing sustainable growth and fulfilling corporate social responsibility, with compassionate finance at its heart.”
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