Shinhan Bank Supplies 1.2 Trillion KRW in 'Green Policy Finance Loans'
Shinhan Bank announced on the 5th that it has supplied 1.221 trillion KRW in the "Green Policy Finance Activation Loan," which supports funds for the purpose of reducing greenhouse gases, until the end of August. This is part of the Ministry of Environment's 'Green Policy Finance Activation Project.'
The Ministry of Environment's Green Policy Finance Activation Project is a financial support program that provides loans and partially supports interest simultaneously when companies apply for funding related to carbon neutrality implementation projects, such as the introduction of greenhouse gas reduction facilities. The related costs are shared equally by the Ministry of Environment and the banks. The main beneficiaries are companies allocated greenhouse gas emission permits and those subject to the target management system.
Shinhan Bank signed a business agreement with the Korea Environmental Industry & Technology Institute in June last year, becoming the first commercial bank to do so, and has continuously supported the Green Policy Finance Activation Loan, supplying funds to companies in various fields such as manufacturing, chemicals, and finance to date.
Additionally, to promote green finance, Shinhan Bank succeeded in issuing Korea's first 100 billion KRW green bond applying the Ministry of Environment's Green Taxonomy (K-Taxonomy) in August last year, and was recognized for this achievement by receiving the Minister of Environment Award at the '2022 Green Finance Excellence Company Awards Ceremony.'
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A Shinhan Bank official stated, "We are also establishing a conformity verification system for the green taxonomy for corporate loans," adding, "Through the application of the green taxonomy, we will select genuine green economic activities and expand eco-friendly incentives such as interest rates and limits to strengthen our position as a leading company in green finance."
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