Hana Bank Accelerates ESG... Successfully Arranges Korea's First 'Green Loan'

[Asia Economy Reporter Kiho Sung] Hana Bank announced on the 4th that it has succeeded in arranging a 'Green Loan' worth 100 billion KRW for an eco-friendly project, becoming the first domestic commercial bank to do so.

A Green Loan is a loan limited to eco-friendly projects such as ▲renewable energy ▲electric vehicles ▲energy efficiency, where the use of funds and performance are certified by a third-party certification body, and financial institutions provide funding as part of green finance.

The 100 billion KRW Green Loan arranged by Hana Bank this time supports a domestic wind power project for renewable energy production, and the project has obtained Green Loan certification from Deloitte Anjin LLC, a third-party certification body.

Additionally, this is the first Green Loan execution case in Korea as project financing (PF).

A Hana Bank Environment, Social, and Governance (ESG) Planning Section official stated, “With the introduction of this Green Loan, we have not only enhanced trust in eco-friendly financial products but also contributed to the spread of green finance in line with the Green New Deal policy,” adding, “We expect it to serve as a preventive measure against ‘Green-washing’?promoting as if practicing green management while actually being far from eco-friendly management?that may occur during the expansion of green finance in the future.”