Eco-friendly Company Ido Issues First 20 Billion Green Bonds

Environmental Management and Social Contribution, Safety and Health System Establishment
Excellence in ESG Management Practice... "Strengthening Environmental Business Capabilities"

A view of the eco-friendly waste facility in Incheon operated by Ido.

[Asia Economy Reporter Kwangho Lee] YIDO announced on the 8th that it has issued Green Bonds worth 20 billion KRW through the Korea Development Bank to expand its environmental business operations and strengthen its technological capabilities. The maturity of the Green Bonds issued this time is entirely 3 years.

YIDO plans to use the funds raised through the bond issuance to expand and enhance technology in waste intermediate and comprehensive treatment, as well as recycling businesses.

Green Bonds are a type of ESG bond (Green Bonds, Social Bonds, Sustainability Bonds). According to the Ministry of Environment’s ‘Green Bond Guidelines,’ the funds raised must be used for green projects aimed at environmental improvement. They must meet requirements such as the use of raised funds, project evaluation and selection process, management of raised funds, and post-reporting obligations.

Before issuing the Green Bonds, YIDO received a ‘PASS’ certification evaluation for Green Bonds from NICE Credit Rating, one of the top three domestic credit rating agencies.

YIDO has established a nationwide industrial waste treatment value chain in the mid-southwest region of South Korea, including Jeju, covering intermediate treatment, recycling, incineration, and landfill. Currently, it operates a total of eight environmental sector business sites, processing approximately 3.4 million tons of waste annually. Recently, it also obtained a patent for ‘Combustible Recovery and Resource Technology in Construction Mixed Waste.’

YIDO was also selected as a national research institute for carbon capture and utilization projects for blue hydrogen production promoted by the Ministry of Science and ICT. It is also engaged in renewable energy projects such as solar power on salinized farmland and offshore wind power.

YIDO plans to promote businesses linked with smart farms such as vertical farming and facility horticulture utilizing waste heat from incineration plants. It also plans to enter the waste battery recycling field by efficiently improving the extraction method of waste batteries.

Choi Jeong-hoon, CEO of YIDO, said, “Through this bond issuance, we will further advance ESG management by expanding eco-friendly businesses,” adding, “We will also contribute to building an ecosystem such as fostering ventures like advanced countries in the future.”

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