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Created on: 2021-02-08 16:29:02
Last update: 2022-03-29 00:00:00
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About KB Financial Group
KB Financial Group (KBFG), founded in September 2008 and headquartered in Seoul, South Korea is a holding company that engages in providing financial services. The group is South Korea's second largest financial institution in terms of assets. Its main subsidiary is KB Kookmin Bank. KB Financial Group provides corporate, retail and personal banking services and is also involved in insurance and asset management.
26, Gukjegeumyung-ro 8-gil, Yeongdeungpo-gu
Jong Kyoo Yoon |
Annual report 2020|
CSR report 2020
listed on Korea Exchange
KB Financial Group's largest shareholder is the National Pension of Korea (9.93%). KBFG's complete shareholder structure can be accessed here.
KB Kookmin Bank – South Korea
|Complaints and grievances||
KB Financial Group mentions in its 2016 Human rights report a grievance mechanism for "those affected by adverse human rights impacts caused during the course of its business operations", but KBFG does not list contact details on its website.
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Banks and Climate
Bank net zero commitments
This table tracks the net zero pledges and commitments of banks. It shows whether banks have committed to net zero by 2050 and have set an interim emissions reduction goal for 2025 and/or 2030. It also notes banks that have not yet set targets but have pledged to do so in the future, including by joining the Collective Commitment to Climate Action or Net Zero Banking Alliance. Finally, it notes whether banks have (pledged to) set Science-Based Targets. More information and references can be found by expanding the 'details' section of each bank.
- A blue check mark means the bank has set a target or joined the alliance. A check mark does not mean that the target set by the bank meets any particular standard, just that is has set a target. In case we have identified short comings in the target, for example when it only applies to lending and not underwriting), this is noted in the 'details' section.
- An orange dash means a bank has pledged to set a target (for example, banks commit to set 2030 and 2050 targets when they join the NZBA), but have not yet actually done so.
CCCA = Collective Commitment to Climate Action
NZBA = Net Zero Banking Alliance
SBT = Science-Based Targets
Banks and Human Rights
Human Rights Benchmark Asia 2022
KB Financial Group's human rights policies, processes and reporting were assessed as part of the BankTrack Human Rights Benchmark Asia 2022. The bank is assessed as a Follower, with a total score of 4 out of 14.
Due dilligence: 0.5/5
New report: Despite ‘net zero’ rhetoric, world’s biggest banks continued to pour billions into fossil fuel expansion in 2021
Equator Banks involved in financing at least 200 fossil fuel projects since Paris
New bank climate initiative fails to grasp urgent need to end finance for fossil fuels
Leading finance firms sign up to Mark Carney forum on low-carbon investment
Banking on Climate Chaos 2022
Voluntary standardsKB Financial Group has committed itself to the following voluntary standards:
- Carbon Disclosure Project
- Collective Commitment to Climate Action (CCCA)
- Equator Principles
- Global Reporting Initiative
- Net-Zero Banking Alliance (NZBA)
- Principles for Responsible Banking (PRB)
- Sustainability Accounting Standards Board
- Task Force on Climate-related Financial Disclosures
- UNEP Finance Initiative
KB Financial Group's web page on corporate social responsibility can be accessed here.