Shinhan Financial Group joins global alliance to standardize ESG model
Shinhan Financial Group became the first Asian financial group to join the Value Balancing Alliance, the group said Tuesday.
The global alliance, established in August 2019, aims to create a standardized model for measuring and disclosing the financial value of environmental, social and governance (ESG)-related achievements of companies.
The alliance is joined by 18 global companies as of March including BASF, Novartis and SK Group.
Shinhan Financial Group last year established its own system to measure the social value it creates, dubbed the social value measurement framework, in an effort to bolster achievements related to ESG standards.
BY KIM JEE-HEE [email@example.com]