Energy access and fuel poverty

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Paris AlignmentReasoning
Not applicableKDB does not have a dedicated strategy nor targets to promote energy access. It mostly operates in countries where energy access is not an issue.
 Alignment and Reasoning
Energy Access TargetNot applicable.
Minimum Definition of AccessNot applicable.
% of Energy Financing Dedicated to Energy AccessNot applicable.
Is Progress MonitoredNot applicable.
Progress Against MetricsNot applicable.

Explanation

The majority of investments by KDB are in the domestic market of South Korea where energy access is not an issue. Beyond that, KDB mostly operates in countries with a high energy access rate, including European and Arab countries.

According to its annual report 2019, KDB is a member of the RE100 initiative which promotes access to 100% renewable energy systems.

KDB does also invest in countries with comparatively lower energy access rates, such as Myanmar, Angola and Nepal. It would therefore be recommended that KDB develops a framework for these countries to ensure inclusive access to clean energy.

Recommendation: KDB should also develop policies to address issues of fuel poverty in its country of operation.

Last Update: July 2021