Shinhan Financial Group Co Ltd

Sign up to access all our data and the evidence and analysis underlying our overall scores. Once you've created an account, we'll get in touch with further details:

Sign Up

Direct Lobbying Transparency

Overall Assessment	Comment	Score
Comprehensive	Shinhan Financial Group provides thorough and specific information about its climate-policy advocacy. It names a wide array of concrete measures it has worked on, including the “Act on Allocation and Trading of Greenhouse Gas Emissions Allowances,” the government’s “new and renewable energy power procurement system,” the national “K-Taxonomy” green classification framework, draft “K-ESG” guidelines, and elements of the Basic Act on Low-Carbon Green Growth and electric-vehicle supply targets. The Group also explains how it engages: it joins and chairs task forces and working groups with the Ministry of Environment, the Financial Services Commission and the Financial Supervisory Service, serves as a technical adviser to the Ministry of Environment’s annual Green Finance Expert Forum, participates in the National Assembly’s Renewable Energy Forum through the “Right of Choice for the RE” initiative, and provides formal opinions to the Ministries of Land, Infrastructure and Transport, Trade, Industry and Energy, and Environment. Finally, it is explicit about the changes it wants to see, seeking to “promote a wider energy choice by businesses,” “advance the green classification system” so it can be used in bond issuance and loan review, secure “liquidity for emissions trading” under the ETS, “support the supply of 350,000 electric vehicles by 2022,” and guide the “introduction of the government’s climate-related financial disclosure system.” This combination of detailed policy references, clearly identified engagement channels and governmental targets, and well-defined desired outcomes demonstrates a comprehensive level of transparency around the company’s climate lobbying activities.	4

Lobbying Governance

Overall Assessment	Comment	Score
Limited	Shinhan Financial Group describes a high-level structure that touches on oversight of external engagement but provides only limited insight into how lobbying is specifically governed. The company states that "ESG-related working-level organizations report to the upper consultative body regularly a month and to the ESG Strategy Committee, a committee within the BOD, 4 to 6 times a year. Through this ESG governance, the group's climate change strategy is consistently applied," and confirms that it has "a public commitment … to conduct your engagement activities in line with the goals of the Paris Agreement." These disclosures indicate that the Board-level ESG Strategy Committee has some responsibility for reviewing climate-related engagement activities, suggesting an internal review step and an intention to align such engagement with climate goals. However, the evidence does not disclose any concrete mechanism that differentiates or monitors direct versus indirect lobbying, no description of how trade-association positions are assessed or corrected, and no published review or audit of lobbying alignment. Therefore, while the presence of a Board committee overseeing engagement indicates some governance, the company does not disclose a detailed process for managing or auditing climate lobbying activities.	1