Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2021
Hana Bank faces criticism over coal-plant investment
Public backlash
Hana Financial Group faced mounting criticism over a 200 billion won investment made through Hana Bank and its subsidiaries to finance the Jawa 9 and 10 coal plants in Indonesia. The article reports that Recourse filed a petition with the IFC claiming that the investment violated the IFC’s Green Equity Approach.
Source excerpt
The petition was to contest a 200 billion won ($179 million) investment made through the lender's Singapore and Indonesian subsidiaries to finance the Jawa 9 and 10 plants in Banten Province, Indonesia
Recourse, its Amsterdam-based non-profit peer organization (NGO), filed a petition with International Financial Corp. (IFC), claiming the Korean lender violated the Green Equity Approach (GEA), a key IFC principle of green investments.
Hana Bank has invested in a variety of coal projects, including the Jawa plants, that are accelerating climate change,