Dunamu to invest ₩100 billion in ESG initiatives

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Dunamu to invest ₩100 billion in ESG initiatives

Dunamu, operator of cryptocurrency exchange Upbit, plans to invest 100 billion won in environment, social and governance projects. [DUNAMU]

Dunamu, operator of cryptocurrency exchange Upbit, plans to invest 100 billion won in environment, social and governance projects. [DUNAMU]

Dunamu, a leading blockchain and fintech company, announced it will invest a total of 100 billion won ($84 million) in its environment, social and governance (ESG) initiatives by 2024, focusing on “tree, youth and investor protection.”
 
The core values of blockchain technology, which are decentralization, distribution and consensus rule, are incorporated into Dunamu’s ESG principles, the company said.
 
Dunamu aims to contribute positively to both society and the environment, and to enhance the accessibility of information and education while cultivating a healthy financial ecosystem for digital asset investment.
 
Under a tentative slogan “we foster the future generation with socially beneficial technology and empowering finance,” Dunamu has set three main missions for each component of ESG: “Collective climate response”, “win-win digital fintech” and “responsible management and transparency in governance.”
 
In terms of environmental protection, Dunamu plans to plant trees in areas damaged by desertification or forest fires to partake in “collective climate response.” As climate change is worsening across the globe, Dunamu hopes to contribute to the collective effort for carbon emission reduction.
 
Dunamu will also focus on the younger generation for the “social” pillar of ESG to foster the future generation and to create social value. The plan includes cultivating talent in the blockchain field and supporting industrial-educational cooperation, the company explained.  
 
According to Dunamu, the first program to promote “win-win technology” will kick off in November. The goal of the program is to help people struggling to pay off their student loans and support them with digital devices essential in the contact-free era.  
 
Lastly, to enhance transparency in governance, Dunamu will run an ESG management committee in a bid to strengthen responsible management. The company also announced the establishment of the Upbit Investor Protection Center in May and plans to promote a healthy investment culture with a range of programs.
 
Chaired by Song Chi-hyung, the head of Dunamu, the ESG management committee will start operation in the first half of next year.  
 
Dunamu donated 47 billion won in total this year, including some 5 billion won for Covid-19 response-related projects.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]
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