Woori Financial releases ESG report for 2023

Woori Financial Group's headquarters in Jung District, central Seoul. [WOORI FINANCIAL GROUP]

Woori Financial Group issued its annual sustainability report on Friday.

The 2023 Woori Financial Group Sustainability Report, its sixth edition, aligns with the global standards for environmental, social and governance (ESG) reporting of the Global Reporting Initiative, the firm said.

Woori Financial Group was given the highest AAA rating by Morgan Stanley Capital International for its ESG efforts for the first time last year, the report showed. The firm was also included in the Dow Jones Sustainability Index for the Asia-Pacific region for the third consecutive year.

Major environmental milestones included the establishment of a mid- to long-term plan to cut 42 percent of direct carbon emissions by 2030 compared to 2022, and 27 percent of financed emissions, which refers to carbon emissions involving investments made by Woori. The company also earned certification for its 2050 net-zero plan by the Science Based Targets Initiative.

In the social segment, the report introduced Woori Financial Group’s financial support programs worth 21 trillion won ($15.2 billion). The firm also paid quarterly dividends for the first time and acquired and retired treasury stocks worth 100 billion won.

“Woori Financial Group will remain committed to realizing our ESG vision of ‘Good Finance for the Next’ and contributing to the sustainable development of society,” said Woori Financial Group Chairman Yim Jong-yong.

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