Gyeongnam Province Reflects Climate Crisis Response in Treasury Designation

Evaluation of Eco-friendly Energy Policy Implementation and Renewable Energy Investment Performance

Gyeongsangnam-do Provincial Government Building Exterior

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] Gyeongsangnam-do announced on the 22nd that it will establish and apply scoring criteria related to climate crisis response in its evaluations as it promotes policies such as the Green New Deal to address the climate crisis.

On the same day, the partial amendment ordinance of the "Ordinance on the Designation and Operation of Gyeongsangnam-do Treasury Banks," aimed at creating opportunities for financial institutions to invest in the renewable energy sector and promote eco-friendly energy policies, passed the plenary session of the Gyeongnam Provincial Council.

Currently, the evaluation criteria for the designation of treasury banks in Gyeongsangnam-do consist of "the internal and external creditworthiness and financial structure stability of financial institutions," "loan and deposit interest rates for the province," "convenience of use for local residents," "management capability of treasury bank operations," and "contributions to the local community and cooperative projects with Gyeongsangnam-do."

When designating the next treasury bank to manage and operate Gyeongsangnam-do’s funds in 2023, the evaluation will include investment performance in renewable energy, declarations of carbon neutrality, and achievements in promoting eco-friendly energy policies.

Previously, the 5-point score for "contributions to the local community" under the "contributions to the local community and cooperative projects with Gyeongsangnam-do" category was evaluated solely based on activities for revitalizing the local economy, disaster relief, and welfare improvement in the community.

With this ordinance amendment, the score for achievements in activities such as local economic revitalization under the "contributions to the local community" evaluation item will be adjusted from 5 points to 3 points.

Additionally, new 1-point scores each have been introduced for investment performance related to renewable energy and for declarations of carbon neutrality and promotion of eco-friendly energy policies.

Notably, reflecting the performance of carbon neutrality declarations in the treasury bank designation evaluation is the first of its kind nationwide.

Jo Hyung-guk, head of the Taxation Division of Gyeongsangnam-do, stated, "We will cooperate with financial institutions so that they can participate in the spread of climate finance and contribute to building a sustainable Gyeongsangnam-do."

This content was produced with the assistance of AI translation services.