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Hana Financial GroupSouth Korea

Active

This profile is actively maintained
Last update: 2023-05-18 00:00:00
Branch of Hana Bank in Myeong Dong, Seoul, Korea. Photo: Hana Financial Group via Wikimedia Commons (CC BY SA 3.0)

Active

This profile is actively maintained
Last update: 2023-05-18 00:00:00
About
Website https://www.hanafn.com/en/main/index.do
Headquarters
66 Euljiro, 2-ga, Jung-gu,
Seoul
South Korea
CEO/chair Ham Young-joo
CEO
Supervisor
Financial Supervisory Service (South Korea)
Ownership
listed on Korea Exchange

Hana Financial Group's largest shareholder is the National Pension Service of Korea (8.07). The Group's complete shareholder structure can be accessed here.
Subsidiaries
Hana Bank Indonesia – Indonesia

Hana Financial Group, established in 1971,  is a Korean-based company principally engaged in the banking business through its main subsidiary Hana Bank. The bank operates its business through four segments: Banking, Financial Investment, Credit Card, and Other services.

Sustainability
Commitments
Policies
Voluntary standards

Hana Financial Group's moast important sustainability commitments can be found at the website sections listed below.

Links

ESG Strategy

Hana Financial Group's subsidiary, Hana Bank Indonesia, is a signatory to IFC's Green Equity Approach.

Sustainable finance framework guide

Bank policy
2022-06-28 00:00:00 | Hana Financial Group

Sustainable finance framework

Bank policy
2021-07-27 00:00:00 | Hana Financial Group
Hana Financial Group has committed itself to the following voluntary standards:
Carbon Disclosure ProjectTags: carbon | climate change | greenhouse gas emissions
Equator PrinciplesTags: Equator Principles | project finance | corporate social responsibility | sustainable development
Global Reporting InitiativeTags: sustainable development | human rights
IFC - Green Equity ApproachTags: corporate social responsibility
Net-Zero Banking Alliance (NZBA)Tags: climate change | corporate social responsibility | energy | energy plants
Partnership for Carbon Accounting Financials (PCAF)Tags: carbon | corporate social responsibility
Principles for Responsible Banking (PRB)Tags: climate change | corporate social responsibility | finance | sustainable development | United Nations | Voluntary Standards
Task Force on Climate-related Financial Disclosures (TCFD)Tags: corporate social responsibility | finance
United Nations Global CompactTags: United Nations | human rights
Dodgy Deals

Hana Financial Group is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of Hana Financial Group's link to these deals.

Projects / Companies
Finance type
Year
Campaigns

Banks and Climate

Partner organisation Reclaim Finance tracks the coal, oil and gas policies of financial institutions, including banks, in their Coal Policy Tool (CPT) and the Oil and Gas Policy Tracker (OGPT). BankTrack works closely with Reclaim Finance and endorses their policy assessments. Find further details on their assessment of Hana Financial Group’s fossil fuel policy below.

Assessment of Hana Financial Group's coal policy in the Coal Policy Tool

Assessment of Hana Financial Group's polices in the Oil & Gas Policy Tracker

Banks and Human Rights

BankTrack assessed Hana Financial Group in its 2022 Human Rights Benchmark Asia, where it achieved 2.5 points out of 14 and was ranked as a 'laggard'. More information is detailed in the "Accountability" section of this profile.

The BankTrack Human Rights Benchmark

Human Rights Benchmark Asia 2022

BankLast update
Country
Score
Ranking
Details
Hana Financial Group
KOR
2.5
Laggard
Explanation
Laggard
Follower
Front runner
Leader
0 - 3 points
3.5 - 6 points
6.5 - 9 points
9.5 - 14 points
For more details see this page.

Banks and Nature

Forest & Finance Policy Assessment 2022: Overall scores

BankLast update
Country
Score
Ranking
Details
Hana Financial Group
2022-09-27
KOR
0.3
Laggard
Explanation

A bank can obtain a total of 10 points for the quality of its policies. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:

Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points
For more details see this page.

Forest & Finance Policy Assessment 2022: Beef

BankLast update
Country
Score
Ranking
Details
Hana Financial Group
2022-09-29
KOR
0
Laggard
Explanation

A bank can obtain a total of 10 points for the quality of its beef policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:

Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points
For more details see this page.

Forest & Finance Policy Assessment 2022: Palm Oil

BankLast update
Country
Score
Ranking
Details
Hana Financial Group
2022-09-29
KOR
0.3
Laggard
Explanation

A bank can obtain a total of 10 points for the quality of its palm oil policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:

Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points

Banks and Putin's war in Ukraine

BankTrack is keeping track of the public response of Hana Financial Group to Russia's illegal invasion of Ukraine. Hana Financial Group did not publicly condemn the war. Hana Financial Group is considered by the Korea Times to be "considering its position" in Russia. We consider its exposure to Russia as limited, with over $245m of financial assets. For further details, see the table linked below.

Bank responses to Russia's invasion of Ukraine
News
BankTrack
Partners
Blog
External
Blog
BankTrack news BankTrack blog Partner news Partner blog

World Bank Group under fire for backing toxic and unnecessary Java 9 & 10 coal project in Indonesia

A formal complaint has been lodged against the World Bank Group for providing back-door financing for two new coal power plants in Indonesia.
2023-09-15 | Inclusive Development International, Recourse, Trend Asia
BankTrack news BankTrack blog Partner news Partner blog

Green groups slam World Bank for backing Indonesian coal plants

The International Finance Corporation (IFC) has supported the construction of the new plants at the Suralaya coal complex through a $15.36 million equity investment in one of the projects’ financiers, Hana Bank Indonesia
2023-09-14 | PENA Masyarakat, Recourse, Trend Asia, IDI
BankTrack news BankTrack blog Partner news Partner blog

IFC must stop funding fossil fuels via financial intermediaries, new report says

2023-04-12 | Recourse
Blog
BankTrack news BankTrack blog Partner news Partner blog

IFC announces it will stop clients funding new coal projects

2023-04-04 | Recourse
Blog
BankTrack news BankTrack blog Partner news Partner blog

Global bank policies ‘dangerously inadequate’ to prevent financing of deforestation, climate chaos and human rights abuses

As the climate and biodiversity crisis intensifies, credit to forest-risk commodity companies increased 160% between 2020 and 2021.
2022-10-18 | Forests & Finance Coalition
Blog
BankTrack news BankTrack blog Partner news Partner blog

Asian banks falling behind in implementation of UN Human Rights Principles, new BankTrack benchmark shows

New benchmark of 18 Asian banks shows human rights performance below the global average
2022-04-05 | Nijmegen | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Ensuring green equity means equity for people and planet

2021-10-14 | BankTrack, Heinrich Böll Stiftung Washington DC, Recourse, Trend Asia
BankTrack news BankTrack blog Partner news Partner blog

Hana Bank Adopts the Equator Principles

2021-08-23 | EPA
BankTrack news BankTrack blog Partner news Partner blog

Financial close on Indonesia Java 9 & 10

2020-11-13 | IJGlobal
Resources
Documents
Accountability
Grievances

Hana Financial Group does not operate a complaints or grievances channel for individuals or communities that might have been affected by its finance.

Hana Financial Group is an Equator Principles signatory. While the Equator Principles have no official grievance mechanism, complaints relating to this bank's financing of Equator Principles projects can be filed through our own website www.equator-complaints.org.

This page evaluates Hana Financial Group's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".

Impacts reviewed
Responded?
Total score
Response
Action
Monitoring

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