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Korea Exim News

Korea Eximbank Announces ‘ESG Management Roadmap’ for the First Time as a State Lender

  • Date2021.07.01
  • View496
Korea Eximbank Announces ‘ESG Management Roadmap’ for the First Time as a State Lender

□ The Export-Import Bank of Korea (www.koreaexim.go.kr, Chairman Bang, Moon-Kyu, “Korea Eximbank”) said it plans to launch ESG management in the Bank’s operations.

 

□ It announced the "ESG Management Roadmap" at the 45th anniversary ceremony held at its headquarters in Yeouido on July 1.

 

□ The ESG Management Roadmap is aimed at △ Supporting Korean companies to strengthen their global ESG competitiveness, △ Contributing to achieving national carbon neutrality goals and △ Expanding the creation of social value under the vision of 'We Export Sustainable Growth.’

 

□ Korea Eximbank set quantitative goals to achieve by 2030, which are △ Providing $180 trillion in ESG loans, △ Issuing ESG Bonds* worth $20 billion and △ Reducing its carbon emissions by 50%.

* Special purpose bonds whose proceeds are committed to the financing of projects that create eco-friendly or social values

 

ㅇ In addition, under the three principles of △ 'ESG item-based support,' △ 'ESG performance support' and △ 'ESG promotion for SMEs,'

- the Bank established directions of its ESG lending policy for Korean companies designating ten ESG financial programs, including "Sustainable Growth Promotion Program," "Global Net-Zero Promotion Program," and "Growth Support Program for Export Beginners."

 

ㅇ Through these programs, Korea Eximbank plans to support the ESG activities of local companies by providing preferential interest rates* and supporting ESG certification fees for external agencies**.

* Up to 1.0%p

** Supporting the fees for ESG management certification assessed by external agencies

 

 

□ Marking the anniversary, Korea Eximbank also unveiled seven core business principles, which serve as guidelines for ESG management, and a plan to form an ESG dedicated team.

 

ㅇ The seven principles* embed Korea Eximbank's determination to practice and spread ESG values by promoting sustainable international economic cooperation.

* △ Expanding Social Value in Finance, △ Improving Sustainability of Bank Operations, △ Risk Management, △ Governance and Integrity, △ Respect for Human Diversity, △ Alignment with International Conventions and Government Policies and △ Responsibility and Communication

 

ㅇ In the upcoming reorganization, Korea Eximbank plans to launch the "ESG Management Department" and establish an "ESG Committee" within its board of directors to manage and oversee its mid- to long-term ESG management strategies and performance.

 

 

□ "Now, ESG management is not an option, but it is a new survival compass that we should employ in our operations," said Chairman Bang Moon-Kyu at the ceremony.

 

ㅇ He stressed, "By operationalizing the ESG roadmap, Korea Eximbank should lead Korean companies to strengthen their global ESG competitiveness."

 
 
 
 
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