Climate Change Data

Environmental Metrics

ESG Focus Areas

• Stable Economic Performance
• Digital Transformation
• Financial Consumer Protection
• ESG Financing
• Inclusive Finance and Social Contribution
• Climate Change Management
• Human Rights Management

Environmental Achievements

• Reduced GHG emissions by 27% from 2012 to 2021 (74,425 tCO2eq in 2021)
• 100% transition to zero-emission vehicles by 2030 (K-EV100 campaign)
• Installed high-efficiency LED lighting in 103 branches, resulting in energy reductions of 786.60MWh and GHG reductions of 391tCO2eq per year
• Minister’s award for “excellent businesses in GHG and energy target management systems for buildings”

Social Achievements

• Provided KRW 53.1 trillion in financial support for micro enterprises and SMEs during the COVID-19 pandemic
• Launched various microfinance products to support low-income earners and those with poor credit ratings
• Established 236 Woori Love Sharing Centers nationwide, involving 8,204 employees in volunteer activities
• Donated KRW 7 billion in the 2022 1st Hope Campaign
• Won the Financial Supervisory Service Award for excellent financial company for One Company One School finance education

Governance Achievements

• Established ESG governance structure to respond to climate risks
• Appointed a female lawyer with ESG expertise as an independent director
• Established the ESG Management Committee and the Group ESG Management Council
• Internal control system certified to ISO 37301

Climate Goals & Targets

Environmental Challenges

• Global financial market instability due to inflation and rising interest rates
• Difficulties faced by small business owners
• Supply chain disruptions due to the Ukraine crisis
• Climate change risks and the transition to a low-carbon economy
• Biodiversity loss
• COVID-19 pandemic

Mitigation Strategies

• Joined the Circular Economy Working Group of the UNEP FI
• Signed an agreement with WWF to promote circular economy projects
• Participated in the TNFD
• Signed an agreement with the Korea Forest Service on cooperation towards carbon neutrality
• Declared support for the ‘Business for Land Initiative’
• Established a COVID-19 Emergency Management Committee
• Provided financial support to companies affected by COVID-19 (KRW 53 trillion)
• Implemented inclusive finance strategies to reduce interest charges
• Established a climate risk management framework (identification, evaluation, management, disclosure)
• Set financed emission reduction targets aligned with SBTi

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Clean contract system
• Fair trade principles

Climate-Related Risks & Opportunities

Physical Risks

• Wildfires
• Heat waves
• Cold waves
• Water scarcity stress

Transition Risks

• GDP decline and inflation
• Carbon border adjustment mechanism
• Financial institutions’ control over high-carbon industries
• Supply chain management by large corporations
• Stranded assets
• Expansion of companies subject to disclosure

Opportunities

• Transition finance (reduction support finance and green finance)
• Investment in renewable energy and green bonds

Reporting Standards

Frameworks Used: GRI Standards (Core Option), SASB, UN PRB

Certifications: ISO 14001 (Woori Bank, Woori Card, Woori Financial Capital, Woori FIS), ISO 45001 (Woori Bank, Woori Card, Woori Financial Capital, Woori FIS), ISMS-P (Woori Bank, Woori Card)

Third-party Assurance: Korea Foundation for Quality (KFQ), DNV Business Assurance Korea Ltd.

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Green bonds
• Sustainable bonds
• Microfinance products

Awards & Recognition

• Minister’s Prize of Land, Infrastructure and Transport
• MSIT Ministerial Prize of Science and ICT
• Financial Supervisory Services Governor Awards
• Korea Economic Daily Comprehensive Grand Prize
• Silver Tower Order of Industrial Service Merit
• Special Prize at the 20th K-ICT Information Protection Awards
• Excellence Prize at the Korea Fair Trade Commission
• ASIA Today Financial Grand Prize
• Ministrial Citation for Economic-statistics Intergrated Survey
• Grand Prize in Social Contribution Sector at the 2021 Korea Digial Content Awards
• Korea Federation of Banks Chairman's Award
• Gold Prize at the 2021 Korea Advertising Awards
• Appreciation Plaque by Yellow Umbrella Mutual Aid Fund
• Excellence Award at the 2021 Korea Online Advertising Awards

Environmental Metrics

ESG Focus Areas

• Climate Change
• Biodiversity
• Circular Economy
• Diversity, Equality, and Inclusion
• Inclusive Finance
• Social Contribution
• Ethical Management
• Risk Management
• ESG Finance

Environmental Achievements

• Reduced financed emissions by 27% by 2030 (target)
• Reduced internal carbon emissions by 42% by 2030 (target)
• Achieved Net-Zero carbon emissions target by 2050 (target)
• Collected 927 kg of plastic waste through the “Act for Nature with Woori” campaign.
• Participated in the East-West Trail Korea Project for forestation.
• Supported Cambodia REDD+ project for forest preservation.

Social Achievements

• Provided KRW 20 trillion co-prosperity financial package.
• Established Woori Future Foundation with KRW 20 billion contribution in 2022.
• Contributed a total of KRW 30 billion to Woori Multicultural Scholarship Foundation since 2012.
• Set gender diversity goals for 2030.
• Launched “branches for microfinance” and elder-friendly “Senior Plus” branches.

Governance Achievements

• Established ESG Management Committee under the Board of Directors.
• Appointed a female independent director as chairperson of the ESG Management Committee.
• Acquired ISO 37301 certification for compliance management systems.
• Upgraded ethical management policies (anti-corruption and bribery).
• Established Environmental Social Risk Management Framework (ESRM).

Climate Goals & Targets

Environmental Challenges

• Climate change and its impact on the financial sector.
• Biodiversity loss.
• Need for a circular economy.
• Maintaining ethical management and compliance.
• Managing risks related to ESG factors.

Mitigation Strategies

• Setting carbon reduction targets for financed and internal emissions.
• Participating in global initiatives (TNFD, PBAF, UNEP FI).
• Implementing the ESRM framework.
• Strengthening internal control systems and compliance monitoring.
• Expanding ESG finance support to KRW 100 trillion by 2030.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: TCFD, PCAF, TNFD, UNGC, UNEP FI PRB, Equator Principles

Certifications: ISO 37301, ISMS, ISMS-P, ISO 27001, ISO 27017, ISO 27701, PCI-DSS