Woori Financial wins MSCI ESG global leader rating for 2nd year

Woori Financial Group said on Thursday it has earned an AA rating for the second consecutive year in the global ESG rating announced by Morgan Stanley Capital International (MSCI).

MSCI's ESG evaluation is given by one of the internationally most reliable ESG rating agencies and is based on an annual assessment of some 8,500 listed companies around the world.

As Woori Financial was reorganized into a holding company in 2019, ESG management was delayed compared with other financial groups.

But after Chairman Son Tae-seung declared 2021 the first year of ESG management and launched full-scale ESG management activities, the group achieved the feat of being a global ESG leader for two straight years.

Under this evaluation, high scores in governance and eco-friendly finance played a decisive role in putting the group among the ranks of leaders.

Last March, Woori Financial appointed a female non-executive director specializing in ESG and named her the chair of the ESG Management Committee, improving the diversity and expertise of its board of directors.

In addition, the group joined the Net-Zero Banking Alliance to strengthen its climate risk management, and expanded eco-friendly activities such as Reducing Emissions from Deforestation and forest Degradation (REDD)+ in Cambodia and the East-West Trail creation project.

"Winning the AA rating is all thanks to the efforts of executives and staff working hard across all areas of ESG. I will make sure that Woori Financial Group can retain its leading position in ESG while leading the transition toward a low-carbon economy and win-win growth with its stakeholders," said Chairman Son.

Write to Sang-Yong Park at yourpencil@hankyung.com