Global Initiative
Shinhan Bank joined the UN Global Compact in May of 2008 to reflect international standards regarding sustainable management into its policies and to showcase its desire to promote socially responsible management at home and abroad. We will lead the way for a healthy financing culture based on compliance with the 10 principles in the 4 areas of human rights, labor, environment, and anti-corruption and disclose our performance and progress in a transparent manner.
| Principles | Activities | |
|---|---|---|
| Human Rights |
Principle 1 : Businesses should support and respect the protection of internationally proclaimed human rights; and Principle 2 : make sure that they are not complicit in the abuse of human rights. |
Enactment and posting of the human rights declaration, education on the protection of human rights, operation of the distress consultation channel, activities to prevent sexual harassment and rudeness at the workplace, etc. |
| Labour Standards |
Principle 3 : Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining; Principle 4 : the elimination of all forms of forced and compulsory labor; Principle 5 : the effective abolition of child labor; and Principle 6 : the elimination of discrimination in respect to employment and occupation. |
Assuring labor union activity, prohibiting child labor and forced labor in accordance with the law, practicing the personnel policy of not allowing discrimination in the cases of employment, rewarding, and evaluations, etc. |
| Environment |
Principle 7 : Businesses should support a precautionary approach to environmental challenges; Principle 8 : Undertake initiatives to promote greater environmental responsibility; and Principle 9 : Encourage the development and diffusion of environmentfriendly technologies. |
Development of environment-friendly financial products and services, established an environmental management system, signed on the Global Investor Statements on Climate Change, encouraged affiliates to conduct the eco-friendly management, participated in CDP, developed the ‘Sustainable Banking Principles’ led by UNEP FI, participated in the Core Group, etc. |
| Anti-Corruption | Principle 10 : Businesses should work against corruption in all its forms, including extortion and bribery. | The enactment and implementation of the Shinhan Financial Group’s Code of Ethics, operation of the fair trade compliance program, ethical practice oath, etc. |