Saneun Discusses Sustainable Finance in Asia with FSC, Stanford, and KAIST

Asia Sustainable Finance Forum Held in Yeouido on the 24th
Special Dialogue with UN Climate Action Finance Envoy Mark Carney Emphasizes Collaboration Among Industry, Government, and Finance for Carbon Neutrality

[Asia Economy Reporter Song Hwajeong] On the 24th, the Korea Development Bank (KDB) announced on the 25th that it sponsored and participated in the "Asia Sustainable Finance Forum," hosted by the Financial Services Commission and jointly organized by Stanford University and KAIST, discussing sustainable finance in the Asian region under the theme "Next Steps for Climate Innovation."

While discussions on climate finance and carbon neutrality have mainly centered on advanced countries in North America and Europe, this forum marked the first time that active presentations and discussions on sustainable finance focused on the Asian region were held under the leadership of the global academic community.

In his opening remarks, Lee Dong-geol, Chairman of KDB, emphasized that "the transition to a low-carbon economy is a 'Green Industrial Revolution' achievable only through fundamental innovation across all sectors including technology, industry, and government." He added, "KDB, as Korea's representative Climate Bank, is leading the Green Industrial Revolution based on patient capital and will continue to support innovation in domestic industries and climate technologies through initiatives such as KDB Carbon Net Zero, Carbon Spread, and industry-finance cooperation programs."

Ko Seung-beom, Chairman of the Financial Services Commission, stated in his welcoming address, "It is a critical time for the financial sector to move beyond declaring carbon neutrality to implementing concrete action plans." He added, "Active support and investment from the financial sector are essential to achieving carbon neutrality, and supporting the low-carbon transition of high-carbon industries is also an important role for the financial sector."

Yoon Jae-ok, Chairman of the National Assembly’s Political Affairs Committee; Yoon Soon-jin, Chairman of the Carbon Neutrality Committee; Lee Kwang-hyung, President of KAIST; and Karen Korn, Stanford University’s Chief Financial Officer, also conveyed their hopes through congratulatory and welcoming remarks that this forum would present actionable tasks for carbon neutrality and sustainable finance and develop into a meaningful platform for global discussions.

In the subsequent presentation and discussion sessions, a total of five sessions were held on key topics related to carbon neutrality, including global trends, climate technology, investment strategies, climate risk, and best practices. Over 30 experts from academia, industry, finance, and government participated by topic, discussing carbon neutrality and climate technology centered on the Asian region, as well as new financial procurement and investment methods for commercializing climate technologies, once again emphasizing the importance of policy finance in the transition to a low-carbon economy.

In particular, during the event, Chairman Lee held a special dialogue with Mark Carney, the UN Special Envoy on Climate Action and Finance, stating that carbon neutrality is only possible when industry, finance, and government collaborate with unified goals. He argued that to ensure the sustainability of the carbon neutrality agenda, it is essential to address greenwashing issues through the introduction of standardized disclosure systems such as TCFD (Task Force on Climate-related Financial Disclosures) and IFRS (International Financial Reporting Standards). Chairman Lee also stressed that sustainable management is no longer an option but a prerequisite for survival, requiring cooperation across all industries, a point with which Special Envoy Carney actively agreed.

A KDB official said, "As a leading policy finance institution in the Asian region, KDB plans to continuously collaborate with the Financial Services Commission, Stanford, KAIST, and other domestic and international academic institutions to derive mid- to long-term practical strategies for carbon neutrality, using this forum as a stepping stone."