| Paris alignment | Reasoning |
|---|---|
| Some progress | KDB is the leading institution for green finance in South Korea. Internationally, the bank does not belong to the leading development finance institutions on climate related issues. |
Explanation
KDB is actively promoting green and climate finance in the Korean capital market. Most notable is the increasing issuance of green and sustainability bonds. Together with the Korea Electric Power Corporation (KEPCO), the Bank hosts the KDB-KEPCO Climate Finance Forum in 2019, as discussed in 2019 annual report. The forum is organised annually and is meant to bring “two of Korea’s leaders in climate change projects, to come together to share information on overseas projects and look at opportunities for new projects.”
Similarly, KDB is working together with other Korean development agencies on a coordinated approach toward the Green Climate Fund. KDB is the only Korean entity accredited for the fund.
However, there is no evidence that KDB is actively promoting and supporting green finance capacity building for partner banks and clients. While being a member of the UN Global Compact and the International Development Finance Club, it does not seem that KDB is leading on climate-related topics in these fora.