JB Financial Group said on Jan. 29 it received an A grade, the top rating, in the climate change assessment released by CDP (Carbon Disclosure Project).

CDP, a global environmental information disclosure platform, is the most authoritative evaluation body in the global environment sector. It assesses companies worldwide on the level of environmental information disclosure and response strategies and releases ratings each year.

The A grade won by JB Financial is awarded to top companies recognised for environmental leadership across strategy, targets and implementation performance.

JB Financial is pursuing group-wide ESG management through an ESG committee made up of all board members and an ESG council comprising key executives and department heads at the holding company and its affiliates. At its affiliates Jeonbuk Bank and Gwangju Bank, it has cut actual greenhouse gas emissions by signing direct renewable-energy power purchase agreement (PPA) contracts, a first for the banking sector.

It also launched the first private-sector RE100-dedicated loan product in the primary banking sector, leading efforts to build a domestic sustainable finance environment such as revitalising South Korea's RE100 market and supporting private companies' implementation of carbon neutrality.

A JB Financial official said the result again recognised the group's ESG management performance following its receipt last year of an AAA grade in MSCI (Morgan Stanley Capital International) ESG ratings. The official said the group would continue to take the lead in sincere ESG practices through the implementation of practical ESG management.