BNK Busan Bank Issues 60 Billion KRW Green Bonds
BNK Busan Bank announced on the 19th that it has issued green bonds worth 60 billion KRW, the first among regional banks to comply with the Korean Green Taxonomy Guidelines.
Green bonds are bonds issued to raise funds for eco-friendly projects and can only be used for green industries such as ▲eco-friendly businesses ▲renewable energy projects. The Ministry of Environment and the Financial Services Commission jointly established the Korean Green Taxonomy to distinguish whether specific technologies or industrial activities are included in eco-friendly efforts for carbon neutrality.
The maturity of the green bonds issued by Busan Bank is 1 year and 2 months, and NICE Credit Rating has completed the assessment of compliance with the Korean Green Bond Guidelines. The funds raised through this green bond issuance will be used to support project financing for waste battery recycling and secondary battery equipment manufacturing projects.
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Kim Cheong-ho, Head of the Treasury Market Division at Busan Bank, said, “We expect this green bond issuance to create tangible environmental improvements such as greenhouse gas reduction and activation of the circular economy,” adding, “Busan Bank will continue to lead ESG (Environmental, Social, and Governance) management along with financial support for eco-friendly businesses as a green bank.”
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