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Hanwha Life Insurance Company and Hanwha Solutions Partner With Aspiration in a Large-Scale International Deal to Bring Aspiration’s Sustainability, Reforestation, and Carbon Neutrality Services to the Korean Market
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LOS ANGELES--(BUSINESS WIRE)--
Aspiration, the global leader in “Sustainability as a Service” solutions for consumers, companies, and governments, today announced a new partnership with Hanwha Life Insurance Company and Hanwha Solutions, two subsidiaries of Hanwha Group, to bring Aspiration’s sustainability financial solutions, ESG consulting services, global reforestation program, and verified carbon offsets to the South Korean market.
Aspiration will guide Hanwha Solutions, South Korea’s leading energy-to-material solution provider, on its journey to achieve net zero emissions by 2050. As part of this partnership, Aspiration will utilize its 5 billion-tree corporate reforestation program, with verified carbon credits, to help Hanwha sequester CO2 emissions to meaningfully reduce its carbon footprint.
Aspiration and Hanwha Life will also be working together to launch an ESG-centric blockchain ecosystem, backed by their extensive collective experience with high-quality, nature-based carbon credits and renewable energy credits, respectively, to help bring more transparency, scale, and liquidity to the voluntary carbon markets.
Aspiration recently entered into a merger agreement with InterPrivate III Financial Partners Inc. (NYSE: IPVF), a publicly traded special purpose acquisition company, which, upon closing, will result in Aspiration becoming a listed company as a Public Benefit Corporation, building on Aspiration’s existing commitments to generate social and public good and operate in a responsible and sustainable manner.
Hanwha Group is a Fortune Global 500 company with over 50,000 employees worldwide and more than $55.6 billion in annual revenue. As Korea’s premier life insurance company and ESG institutional investor, Hanwha Life is actively embracing digital transformation with the aim of becoming a leading provider of digital financial services. Hanwha Solutions, one of the world’s leading total energy solutions companies, delivers a broad range of sustainable solutions through technology and innovation in their chemical, solar energy, advanced materials, and high-tech city development businesses.
“We are humbled to be trusted by such a storied and respected corporate leader in South Korea,” said Andrei Cherny, Aspiration CEO and co-founder. “Hanwha is setting a powerful global example around its commitment to ESG and genuine sustainability, and Aspiration couldn’t be more excited to build upon our international footprint with this new partnership with Hanwha.”
Earlier this year, Aspiration opened an office in South Korea, in Yeouido, Seoul’s main financial and banking district. Over the past year, Aspiration has accelerated the pace of its own enterprise commitment to plant 100 million trees by 2030 -- and coupled with the current speed at which it is planting on behalf of its individual and business customers -- Aspiration is now one of the largest corporate sponsors of reforestation in the world.
About Aspiration Partners, Inc.
Aspiration is a leading platform to help people and businesses put automated sustainable impact into their hands and integrate it into their daily lives. Aspiration has earned the trust of its more than 5 million members by helping them spend, save, shop, and invest to both "Do Well" and "Do Good." Aspiration Partners, Inc. is a certified B Corp. For more information, visit Aspiration.com or Aspiration.com/business. Still and video media assets can be found at https://tinyurl.com/56u3yu3z.
About InterPrivate III Financial Partners Inc.
InterPrivate III Financial Partners Inc., led by Chairman & CEO Ahmed Fattouh, President Nicholaos Krenteras, and Vice Chairman Sunil Kappagoda, is a blank check company whose business purpose is to affect a business combination with one or more businesses in the financial services or fintech sectors. InterPrivate III’s Board of Directors includes globally recognized financial services leaders including: former Bank One Chairman, John McCoy; former Lucent and Verifone Chairman, Rich McGinn; Pine Brook founder and former Warburg Pincus Vice Chairman, Howard Newman; and fintech investor Gordy Holterman.
About Hanwha Life Insurance Company
Hanwha Life is South Korea's second largest life insurance company with total reported assets of $116.73 billion. In addition to its prowess in traditional financial services, Hanwha Life is actively embracing digital transformation with the aim of becoming a leading provider of digital financial services in the Asian market. Hanwha Life is also an ESG institutional investor. For more information, visit www.hanwhalife.com/en/.
About Hanwha Solutions Corporation
Hanwha Solutions is South Korea’s leading energy-to-material company aiming to deliver sustainable solutions for the planet. Its key areas of business include chemical, solar energy, advanced materials, and high-tech city development. With its innovative technology for sustainable growth, Hanwha Solutions strives to become a global leader in providing a better future for humanity. For more information, visit www.hanwhasolutions.com/en/.
