Mirae Asset Securities recognized for ESG efforts

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Mirae Asset Securities recognized for ESG efforts

Published: 30 Jun. 2023, 18:28 Updated: 30 Jun. 2023, 18:30

Mirae Asset Securities headquarters in central Seoul [MIRAE ASSET SECURITIES]

Mirae Asset Securities was graded A by the local environmental, social and governance (ESG) ratings agency Sustinvest, the brokerage company announced Friday.

The company has been keeping tabs on ESG since 2006 to foster a sustainable financial business. Establishing medium and long-term goals for ESG criteria and taking phased steps to meet the goals with sub-level tasks contributed to the rating, the company said.

It became the first securities company to make a long-term renewable energy certificate (REC) purchase in February as part of its goal to achieve RE100 by 2025. RE100 is a global campaign to replace all electricity generated by fossil fuels with renewable energy by 2050, and purchasing RECs is one way of achieving RE100.

RECs are tradable instruments issued when one megawatt-hour of electricity used is generated from a renewable energy resource. Mirae Asset aims to be carbon-neutral by 2040.

The financial firm was the first Korean securities company to receive ISO 45001 certification, an international standard for occupational health and safety. It changed its dividend policy at the general shareholders meeting earlier this year to allow investors to buy shares after the dividend yield is determined, starting from 2024.

“Mirae Asset Securities will continue to practice sustainable finance, especially on transparent management, to pioneer a sustainable future with investment and fund management,” a spokesperson at the company said.

BY SOHN DONG-JOO [sohn.dongjoo@joongang.co.kr]