iM Bank Completes Development of K-Taxonomy Compliance Assessment System

On November 12, iM Bank announced that it has completed the development of the "K-Taxonomy Compliance Assessment System" to promote the spread of green finance.

The "K-Taxonomy" sets standards for classifying economic activities that contribute to achieving six major environmental goals: greenhouse gas reduction, climate change adaptation, sustainable water conservation, resource circulation, pollution prevention and management, and biodiversity conservation.

This system is an assessment platform developed based on the K-Taxonomy to determine the green compliance of iM Bank’s loans, investments, and bonds. After approximately five months of in-house development starting in June this year, iM Bank’s "K-Taxonomy Compliance Assessment System" was completed. It clearly identifies activity standards, eligibility criteria, exclusion and protection standards for corporate economic activities, thereby supporting financial institutions in making compliance decisions.

iM Bank plans to strategically utilize the compliance assessment data accumulated through the "K-Taxonomy Compliance Assessment System." This data will serve as a core tool for accurately identifying and classifying green finance assets within the bank’s portfolio. Based on this data, iM Bank intends to actively discover new green assets and lending opportunities that align with the current administration’s productive financial policy directions, such as renewable energy, low-carbon transition, and the circular economy, thereby working toward achieving its green finance goals.

Hwang Byungwoo, President of iM Bank, stated, "Responding to the climate crisis and transitioning to a carbon-neutral society are essential roles for finance. With iM Bank’s K-Taxonomy Compliance Assessment System, we will strengthen the link between the economy and policy, taking a leading role in expanding the green finance ecosystem."

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