|Unaligned||There is no information or evidence of sector-specific strategies. KDB does state its intention to finance projects related to hydrogen/electric charging stations, electric vehicles and public transport.|
|Energy||KDB does not have a sectoral strategy for energy lending, and there are no climate criteria for energy lending.||KDB does not have a sectoral strategy for energy lending, and there are no climate criteria for energy lending.|
|Transport||KDB does not have a sectoral strategy for transport lending, and there are no climate criteria for transport lending.||KDB does not have a sectoral strategy for transport lending, and there are no climate criteria for transport lending.|
|Water & Cities||KDB does not have a sectoral strategy for water & cities lending, and there are no climate criteria for water & cities lending.||KDB does not have a sectoral strategy for water & cities lending, and there are no climate criteria for water & cities lending.|
There is no publicly available information or evidence of standalone sector plans, policies or strategies for KDB’s overseas or domestic operations*. There is no specific mention of transport or water strategies in the KDB Annual Report. KDB supports and follows the policies of the Korean government. There are some indications for sector specific lending approaches, but no evidence can be found for sector strategies.
Regarding energy, the KDB Annual Report 2019 states that it “will also fulfil the government’s new energy policies in the renewable energy market and lead sustainable finance by supporting small-to mid-sized photovoltaic projects and offshore wind farm projects.”
For the real estate sector, KDB states in its 2017 annual report that it “will also increase our participation in environmental improvement projects, such as improving outdated industrial complexes and undertaking urban regeneration.” KDB supports Korean companies within and outside Korea but unlike the Korea Export-Import Bank is not required to have 100% Korean content in the projects it finances.
KDB statements have confirmed that climate change considerations are not taken into account in transport sector investment projects**. It is important to note however that the KDB has signed up to the Equator Principles, which constitute basic environmental, social and human rights standards, and that these should therefore in theory be integrated within the decision-making process of the different sector teams (energy, transport etc) within the bank.
* This was confirmed by email exchanges with personnel of the bank, who clarified that the bank does not have such policies.
** Documents provided to E3G containing further information on Korea Development Bank.