Woori Financial Group Chairman Son Tae-seung pledged to strengthen cooperation with international organizations for the restoration of nature and climate finance. Son embarked on his business trip to Europe for four days from Oct. 4 and visited a series of international organizations dedicated to fulfilling environmental, social and corporate governance (ESG) values.
Woori Financial Group aims to push ahead with the expansion of its non-banking business portfolio, but the financial group s recent attempt to acquire BNP Paribas Cardif Life could not overcome the board s opposition. According to the investment banking industry, Woori Financial has been positively reviewing the option of acquiring the life insurance company in recent months. However, the financial group s board is opposed to the acquisition plan on the grounds that the timing isn t right, saying more life insurance firms are expected to be up in the M&A market with the slated adoption of new IFRS17 accounting standards from the next year.
Woori Financial Group Chairman and CEO Son Tae-seung will visit Europe next month to discuss the group s efforts in environmental, social and corporate governance (ESG) practices on the global stage, according to the banking group, Monday. It said Son s planned trip comes upon the joint invitation of two U.N. bodies the U.N. Framework Convention (UNFCC) and UN Environment Programme Finance Initiative (UNEP FI) plus that of the International Union for Conservation of Nature and Natural Resources (IUCN), an observer to the U.N. General Assembly.
VWO and IEMG, the two largest emerging market ETFs, each have over 80% allocated to Asian markets, with over half of that 80% in Greater China alone. Read more.