By Kim Hyun-bin
More financial institutions are joining carbon-neutrality and anti-coal campaigns in order to help companies shift to renewable energy.
Hana Financial Group, which has vowed to become carbon neutral by 2050, joined the anti-coal campaign as part of its Next 2030 Management Principles goal as well as supporting the government s carbon-free initiatives.
The Korean government aims to become carbon neutral by 2050 to transition in a green economy and maximize the utilization of renewable energy sources.
Hana Financial Group will halt investing and financing the construction of coal power plants as well as acquiring related bonds.
The lender also plans to establish an Environmental and Social Risks Management (ESRM) program in the first half of this year and restrict financial aid for businesses that harm the environment or commit human rights abuses.