Kibo Receives 'Prime Minister's Commendation' at Korea Energy Awards

Contribution to Carbon Value Assessment and Activation of Green Finance Based on K-Taxonomy

The Korea Technology Finance Corporation (Kibo) announced on the 19th that it received the Prime Minister's Commendation in the group category at the '2024 Korea Energy Awards' hosted by the Ministry of Trade, Industry and Energy, in recognition of its contributions to the development of the energy industry and improvement of energy efficiency.

The Korea Energy Awards is the largest government award in the energy sector that discovers and honors individuals and organizations who have contributed to industrial development in line with national energy policies such as improving energy usage environments and advancing the renewable energy industry.

Executive Director Park Juseon of Kibo (third from the left) and Kibo officials are taking a commemorative photo after receiving the Prime Minister's Commendation. Photo by Kibo

Kibo was recognized for its contribution to revitalizing green finance through its independent carbon value assessment and support for carbon neutrality of small and medium-sized enterprises (SMEs) based on the K-Taxonomy. Designated by the government as a 'specialized financial support institution for green SMEs and ventures,' Kibo developed a 'carbon value assessment model' that converts companies' greenhouse gas reduction amounts into monetary value. Utilizing this model, it introduced carbon value assessment guarantees in 2022 and has recently achieved a cumulative new supply amount exceeding 1.5 trillion KRW, leading the green growth and carbon neutrality transition of SMEs and ventures.

Additionally, Kibo established the K-Taxonomy Assessment System (KTAS) to clearly determine green standards according to the Korean Green Classification System, and in the first half of this year, signed a 'Business Agreement to Activate Green Finance Support Linked to K-Taxonomy' with seven major commercial banks to expand green finance support.

Park Ju-seon, Executive Director of Kibo, stated, “Kibo is taking the lead in the carbon neutrality transition of SMEs through carbon value assessment and various green finance support projects based on the carbon value assessment and K-Taxonomy for low-carbon innovation.” He added, “We will continue to introduce diverse policies and support programs to strengthen the carbon neutrality response capabilities of SMEs and ventures and contribute to the spread of Net-Zero.”