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Hana Financial chief highlights green financing efforts in Australia

June 23, 2024 - 15:27 By Im Eun-byel
Hana Financial Group Chairman Ham Young-joo (right) poses for photos with Alex Heath, first assistant secretary of the Australian Treasury’s Climate and Energy Division, in Canberra, Australia on Friday. (Hana Financial Group)

Hana Financial Group Chairman Ham Young-joo discussed the importance of green financing with Australia’s high-ranking government official in a meeting held in Canberra, the firm said Sunday.

Ham met with Alex Heath, the first assistant secretary of the Australian Treasury’s climate and energy division, during his three-day visit to the country as part of efforts to expand the firm’s global presence.

"Hana Financial has achieved nearly 45 percent of what was announced in its mid-and long-term vision ‘2030&60’ three years ago at a remarkably fast pace, pledging environmental, social and governance management to respond to climate changes,” Heath said.

The group’s “2030&60” vision announced in 2021 involves a bid to provide 60 trillion won ($43 billion) for lending, investments and funding for green and sustainable industries by 2030.

“As Hana Financial has participated in various green financing directives that align with Australia’s environmentally friendly policies, we hope Hana could take on more investments and cooperation as a major global financing institution in Australia,” Heath said.

Hana Bank’s Sydney branch has been participating in various ESG directives, such as making investments in recycled energy, providing green loans and suitability linked loans, the firm explained. The bank has also taken part in the Australian government’s smart meter project, which records consumer electricity usage.

During his visit to the country, Ham also met with major investors who are interested in Korea’s banking shares following the government’s announcement of the Corporate Value-up Program. In the meetings, he introduced the firm’s initiatives related to the program and shared its ESG achievements in both Korea and Australia.

"The true meaning of 'value-up' goes beyond the boost of share prices. It is about enhancing corporate value by securing the fundamentals of sustainable profit and expansion of shareholder returns for the win-win of all market players, including retail investors,” Ham said.

"Hana Financial has achieved constant growth based on cost efficiency and sound financials. It will continue to do its best to strengthen shareholder value through efficient capital management and shareholder-friendly policies to become the value-up model that can represent the finance industry in Korea.”