This photo, provided by the Export-Import Bank of Korea (Eximbank) on Thursday, shows Eximbank President Bang Moon-kyu (C) posing during a ceremony to announce its ESG management road map at the bank's office in Seoul. (Export-Import Bank of Korea)
The state-run Export-Import Bank of Korea (Eximbank) said Thursday it will provide 180 trillion won (US$159 billion) worth of loans related to environmental, social and governance (ESG) by 2030.
The state lender made the pledge while announcing its ESG management road map to mark the 45th anniversary of its foundation at its headquarters in Seoul.
The road map also includes the issuance of ESG bonds worth $20 billion by that year to extend loans to the ESG sector, Eximbank said.
ESG bonds refer to a type of sustainability debt offering aimed at financing corporate activities in environmentally friendly and sustainable projects.
The lender's ESG management road map is designed to support the ESG competitiveness of local companies, contribute to the country's attainment of carbon neutrality and expand the creation of social value, the bank said.
To that end, Eximbank has set up seven action plans and established the ESG management department while planning to form an ESG committee within its board of directors. (Yonhap)