□ The Export-Import Bank of Korea (www.koreaeximbank.go.kr, Chairman Bang Moon-Kyu, “Korea Eximbank“) became the first Korean Signatory to the Operating Principles for Impact Management (the “Impact Principles“).
□ Stephanie von Friedeburg, the Senior Vice President of International Finance Corporation (IFC), welcomed Korea Eximbank as a new Signatory during the meeting with Chairman Bang Moon-Kyu on November 2 (local time) in Glasgow, the U.K., where the COP26 UN Climate Change Conference is taking place. Korea Eximbank will apply the Impact Principles for its assets aligned with the ESG bond*.
* ESG Bond : Special Purpose Bond which allocates its net proceeds to green and social projects
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ㅇ Launched by IFC and other impact investors in April 2019, the Impact Principles bring much-needed discipline, transparency, and credibility to the impact investing market.
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ㅇ They require signatories to assess and monitor not only their financial returns, but the progress of their investments in achieving environmental and social impacts.
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ㅇ Until now, over 100 investors*, including Development Financial Institutions(DFIs), commercial banks, and asset owners have become signatories to the Impact Principles.
* DFC, JICA, EBRD, BlackRock, UBS, etc.
□ “I hope that adoption of the Operating Principles for Impact Management can contribute to reinforcing Korea Eximbank’s ESG management, and achieving the UN SDGs,” Chairman Bang said during the meeting.
□ Korea Eximbank announced ‘ESG Management Roadmap’ for the first time as a state lender in July this year. As part of the roadmap, it launched the “ESG Management Department”, and plans to establish an “ESG Committee” within its board of directors.
□ Apart from this, Chairman Bang also had bilateral meetings in Glasgow with MDBs(EBRD, IDB, AfDB) and EDC(the Canadian ECA) that participated in the COP 26.