Shinhan Bank (First Year Implementation)

Adoption Date: 09 Sep 2020
Country of Headquarters: South Korea
Region of Headquarters: Asia-Oceania
Current EPFI Reporting Year/Period: First Year Implementation
Institutional Reporting: No Report Available

 

Please read the important notes and disclaimer for further information on ‘EPFI Reporting’, compliance and publication on the Equator Principles Association website.

Further information on this EPFI may be obtained through the Institutional Reporting hyperlink.

Project Finance Advisory Services

Total number mandated in the reporting period: 0

Project Finance Transactions

Total number that reached Financial Close in the reporting period: 5

Equator Principles Category A1 B2 C3
Sector
Mining
Infrastructure 1
Oil & Gas
Power 4
Others
Region
Americas
Europe, Middle East & Africa 1
Asia Pacific 1 3
Country Designation
Designated Country4
Non Designated Country 1 4
Independent Review
Yes 1
No 4
Totals 1 4
1

Category A – Projects with potential significant adverse environmental and social risks and/or impacts that are diverse, irreversible or unprecedented.

2

Category B – Projects with potential limited adverse environmental and social risks and/or impacts that are few in number, generally site-specific, largely reversible and readily addressed through mitigation measures.

3

Category C – Projects with minimal or no adverse environmental and social risks and/or impacts.

4

Designated Countries are those countries deemed to have robust environmental and social governance, legislation systems and institutional capacity designed to protect their people and the natural environment. See list of Designated Countries.

Project-related Refinance & Project-related Acquisition For Project Finance

This information is required under EP4. EP4 applies for those transactions mandated after 1 October 2020 and that have reached Financial Close by the end of the period being reported.

Project Name Reporting For Project Finance (And Project-related Refinance & Project-related Acquisition Finance For Project Finance)

Number of projects that were not disclosed as per the disclosure conditions specified in Annex B of the Principles: 5

Under EP4, project name reporting is required for Project Finance transactions that have reached Financial Close and encouraged for Project-Related Corporate Loans that have reached Financial Close.

Project-Related Corporate Loans

Total number that reached Financial Close in the reporting period: 0

Project-related Refinance & Project-related Acquisition For Project-related Corporate Loans

This information is required under EP4. EP4 applies for those transactions mandated after 1 October 2020 and that have reached Financial Close by the end of the period being reported.

Implementation of the Equator Principles

Shinhan Bank adopted the Equator Principles (EP) in September 2020. To comply with the EP, the Bank established an ‘Application Manual for the Equator Principles’ and incorporated into Credit Operation Procedures.

In order to properly implement and manage EP independly, the Bank created “ESG Strategy Department”, which was established to oversee ESG initiatives and monitor trends and strategies, including EP.

Shinhan Bank completed 2 EP training sessions in September 202 from external consultants. Additionally, the Bank provided internal training and Q&A sessions to banking personnel in related departments. As for the newly hired or transferred banking personnel, they can access contents uploaded to the Bank’s education platform. The comprehensive EP training covers topics such as ‘Purpose of EP’, ‘Screening Process’ and ‘Role and Responsibilities of departments’. The training was designed to socialize amongst stakeholders the international standards when evaluating the impact of project financing on the environment and society, and requirements to comply under this risk management framework.