Case study: How Hana Financial Group works with its clients and customers to encourage sustainable practices

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

Hana Financial Group engages and collaborates with stakeholders regarding social responsibility.

Hana Financial Group is committed to achieving finance that goes beyond traditional boundaries for everyone by connecting future values through its new vision of ‘One Finance for All’ as part of its ‘Next 2030’ initiative. Hana Financial Group’s goal is to foster an inclusive financial ecosystem where everyone can grow together and share in happiness through voluntary communication and participation, guided by the Principles for Responsible Banking. Hana Financial Group identifies its primary stakeholders as customers, employees, partner companies, governmental bodies, shareholders and investors, and local communities, all of which have both direct and indirect effects on its business operations. Hana Financial Group prioritizes incorporating feedback from various communication channels, such as annual stakeholder surveys, into its business practices. Material issues are identified through consultations with both internal and external stakeholders, and Hana Financial Group ensures transparency by reporting on these critical issues. In May 2023, Hana Financial Group served as the main sponsor for the UNEP FI PRB Asia-Pacific Roundtable, where CEO and Chairman Ham Young-ju presented the Group’s ESG vision through a keynote address.

How did Hana Financial Group work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?

In its 2024 PRB Reporting and Self-Assessment Template Hana Financial Group reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:

Hana Financial Group engages in responsible and sustainable economic activities through collaboration with its customers.

Hana Financial Group, guided by the principle of ‘customer-centric finance,’ is dedicated to delivering responsible financial services that create essential value for its clients. To ensure effective customer protection, Hana Financial Group has established the Consumer Risk Management Committee and the Non-Deposit Product Committee, along with internal regulations like the “Guideline for Managing Financial Product Risks” to proactively review and address potential risks. Furthermore, Hana Financial Group provides financial training to help customers navigate the rapidly evolving financial landscape and combat electronic financial fraud, such as voice phishing, using its advanced Fraud Detection System (FDS).

“Diversity and Inclusion” Policy Establishment

As part of the Group’s mission to ‘grow together and share happiness through finance,’ Hana Financial Group values the dignity and diversity of all employees, customers, and members of society, and strives to foster an inclusive environment where everyone can thrive. To this end, Hana Financial Group adheres to global principles of diversity and inclusion, including the UN Universal Declaration of Human Rights, International Labour Organization (ILO) conventions, and UNGC principles. Together with its ethical code ‘Code One’ and the Human Rights Declaration, which underpins its human rights management, Hana Financial Group has developed the “Diversity and Inclusion Policy.” This policy reflects Hana Financial Group’s commitment to these global standards and its dedication to promoting diversity and inclusion within the organization.

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

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    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

References:

This case study is based on published information by Hana Financial Group, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.hanafn.com/esg/report/2024/HFG_PRB_Report_2024_Reporting_and_Self_Assessment_Template.pdf

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