KB금융그룹

Ending Coal Financing

As global warming aggravates abnormal climate conditions, catastrophic natural disasters are on the sharp rise and anti-coal stakeholders’ demands are increasing. KB Financial Group made commitment to exit coal financing focused on halting investment in the construction of new coal-fired power plants for the first time among Korean financial groups to preemptively respond to the climate change crisis and fulfil our environmental and social responsibilities as an ESG leader in the financial sector. We will step up our efforts to provide environmentally responsible financial services and lead a transition towards low-carbon economy.

Our Commitment

  • First, we will not provide project financing to the construction of new coal-fired power plants globally.
  • Second, we will not underwrite bonds issued by a special purpose company (SPC) for the construction of new coal-fired power plants globally.
  • Third, we will not underwrite any other bonds issued for the purpose of the construction of new coal-fired power plants globally.
  • Fourth, we will strive to expand investment supporting sustainable development including investment in and lending to renewable energy sectors to support the transition toward a low-carbon economy.