Kibo Leads Efforts to Solve Climate Issues through Joining International Organizations
UNEP FI Official Support Institution Registration
International Financial Sector Cooperation
The Korea Technology Finance Corporation (Chairman Kim Jong-ho, hereinafter referred to as Kibo) announced on the 15th that it has registered as an official supporting institution of UNEP FI (United Nations Environment Programme Finance Initiative) and joined the Partnership for Carbon Accounting Financials (PCAF). This membership aims to collaborate within the financial sector of international organizations on various environmental issues related to climate change.
Kibo actively participates in reputable international agreements such as the Task Force on Climate-related Financial Disclosures (TCFD) and the Climate Technology Centre and Network (CTCN) to promote corporate activities aimed at overcoming the global climate crisis, including greenhouse gas reduction, and to spread climate change response signals in the market. Kibo plans to continue joining major global climate change initiatives in the future.
UNEP FI is an international agreement that defines the role and responsibility of the financial industry in implementing the Paris Climate Agreement and the UN Sustainable Development Goals, with 506 member organizations and 153 supporting institutions worldwide participating. PCAF is a global initiative that supports financial institutions, companies, NGOs, and other stakeholders in measuring, reporting, and verifying carbon emissions, with over 320 financial institutions worldwide as members.
Meanwhile, Kibo has developed a carbon value assessment model that converts the effects of carbon reduction into monetary value and supports carbon value assessment guarantees for companies with carbon reduction achievements. Additionally, to contribute to the spread of green finance, Kibo has introduced the K-Taxonomy certification system and plans to provide certificates along with guarantees starting in 2024, actively responding to climate change as a public financial institution.
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Director Lee Jae-pil of Kibo stated, "Kibo will actively respond to the climate crisis by collaborating with UNEP FI member companies to limit greenhouse gas emissions, promote a circular economy, and support sustainable finance for a sustainable global economy." He added, "Furthermore, by joining PCAF, we plan to expand international cooperation by transparently and accurately measuring carbon emissions and contributing to companies' achievement of greenhouse gas reduction targets based on this."
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