On July 10th, JB Financial Group announced the release of its "2024 Integrated Annual Report," showcasing the group’s environmental, social, and governance (ESG) accomplishments and sustainability strategies.
Now in its eighth edition, this year’s report is organized around the performance of each affiliate following the establishment of group-level ESG strategies. The report comprehensively covers non-financial achievements, including the development of an integrated climate risk management system, implementation of RE100-based renewable energy procurement, quantification of social contribution outcomes, and enhancements in ESG evaluations.
Through its ESG Committee and stakeholder surveys, JB Financial Group identified four key material topics: 'Responding to Climate Change,' 'Community Engagement,' 'Financial Consumer Protection,' and 'Risk Management.' The report is centered on strategies and execution results related to these areas. The ESG achievements underwent third-party verification to ensure credibility and were disclosed in accordance with global standards such as GRI, SASB, and IFRS S1 and S2.
Notably, Jeonbuk Bank and Gwangju Bank, both part of JB Financial Group, made headlines by becoming the first banks in the country to sign power purchase agreements (PPAs) for direct renewable energy transactions. Additionally, they launched a dedicated loan product targeting the private RE100 market, marking a significant push towards green finance. This product, developed in collaboration with suppliers and financial institutions, is recognized as a notable example of supporting RE100 companies in achieving carbon neutrality.
In the area of social contributions, the group has enhanced its community-based initiatives, notably through the "Seed Volunteer Group." According to JB Financial, the social impact of the group’s core projects in 2024 is estimated at approximately 4.77 billion KRW, with a social return on investment (SROI) of 1.8 times.
The group's ESG management achievements have also been recognized externally. Last year, JB Financial Group received an integrated A rating from the Korea ESG Standards Institute (KCGS) and was included in the Dow Jones Sustainability Index (DJSI) Korea Index.
A representative from JB Financial Group stated, "Despite the rapidly changing financial environment, we aim to uphold our identity as 'Korea’s leading small yet strong financial group' and continue leading social change through finance."
JB Financial Group encompasses subsidiaries such as Jeonbuk Bank, Gwangju Bank, JB Woori Capital, JB Asset Management, and JB Investment, along with grandchildren companies including PPCBank in Phnom Penh, JB Capital Myanmar, JB Securities Vietnam, and JB Phnom Penh Asset Management.
