Busan Bank Issues 60 Billion KRW 'Green Bonds,' First Among Regional Banks

On the 19th, BNK Busan Bank became the first regional bank to issue a 60 billion KRW green bond complying with the Korean Green Taxonomy guidelines.

The Korean Green Taxonomy, jointly prepared by the Ministry of Environment and the Financial Services Commission, provides guidelines on whether specific technologies or industrial activities are considered eco-friendly for carbon neutrality.

Green bonds are bonds issued to raise funds for eco-friendly projects and are limited to use for green industries such as ▲eco-friendly businesses ▲renewable energy projects.

Busan Bank Headquarters.

The green bond issued by Busan Bank has a maturity of 1 year and 2 months and a scale of 60 billion KRW, and has been judged by NICE Credit Rating as compliant with the Korean Green Bond guidelines.

Busan Bank plans to use the funds raised from this green bond issuance to support project financing for waste battery recycling and secondary battery equipment manufacturing.

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 management along with financial support for eco-friendly businesses as a green bank.”

Meanwhile, Busan Bank has continuously carried out eco-friendly business activities such as ▲selling low-carbon practice savings and deposits ▲implementing single-use product and food waste zero (ZERO) days ▲establishing a paperless business system.

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