Hana Financial Group wins ESG rating upgrade for 'independence and integrity'

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Hana Financial Group wins ESG rating upgrade for 'independence and integrity'

Hana Financial Group CEO and Chairman Ham Young-joo [HANA FINANCIAL GROUP]

Hana Financial Group CEO and Chairman Ham Young-joo [HANA FINANCIAL GROUP]

 
Hana Financial Group received a boosted environmental, social and governance (ESG) rating from Morgan Stanley Capital International (MSCI), which said the integrity and ethics displayed among its leadership surpassed those of the rest of the financial sector.
 
The index provider lifted the Korean bank to AAA, according to an announcement Tuesday. AAA is the highest possible score, a one-notch upgrade from the AA ratings the firm received in 2023 and 2022 and a two-notch jump from 2021, when it first announced its mid- to long-term ESG initiative.
 
Hana Financial Group earned an ESG score of 7.6 on last year’s assessment, the highest score granted in the banking industry so far, outrunning major banks such as JPMorgan Chase, Citigroup, Bank of America, and HSBC. 
 

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MSCI acknowledged the group's board for its “independence and integrity” and business ethics, according to Hana. Its financial education programs for children and foreigners, along with financial aid loans for small businesses and the financially vulnerable population, also contributed to the rating.
 
MSCI measures the ESG risks and management practices of listed companies worldwide in seven grades ranging from CCC to AAA every year, based on its assessment of 10 segments involving ESG issues.
 
“The AAA ESG rating from MSCI is another testament to Hana Financial Group’s consistent efforts to practice genuine ESG management to generate social value,” said Hana Financial Group CEO and Chairman Ham Young-joo. “We will continue our commitment to growing together and sharing happiness with various stakeholders.”

BY SHIN HA-NEE [[email protected]]
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