Non-fossil to fossil energy ratio and scaling up climate investment in all sectors

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Paris alignmentReasoning
UnalignedBetween 2016-19 for every $1 the KDB provided to fossil fuels, $0.35 went to renewables. This is one of the highest ratios in favour of fossil fuels amongst the public banks included in this analysis.

Explanation

Korea Development Bank has a low climate/fossil fuel financing ratios. Korea Development Bank is lagging behind its peers in greening its energy investments. Korea Development Bank invests almost three times as much in fossil energy than it invests in renewable energy.

Recommendation: KDB (or the Korean government, as appropriate) should consider transforming the Bank into a “Korean green bank” institution that would have as its explicit mandate the financing of non-fossil infrastructure within and outside of Korea.

 
Last Update: July 2021