Shinhan Bank Participates in 'Net Zero Challenge X' for Second Consecutive Year... "Supporting Climate Tech Startups"

Shinhan Bank announced on December 22 that it will participate in the national carbon neutrality project, the "2026 Net Zero Challenge X."

This project aims to discover promising climate tech startups with innovative technologies in the fields of greenhouse gas reduction and climate crisis adaptation, support their growth into green unicorn companies, and contribute to achieving national carbon neutrality and green growth. The project is overseen by the Presidential Commission on Carbon Neutrality and Green Growth 2050.

Last year, the project was launched through the collaboration of over 30 organizations, including relevant ministries, public institutions, and private companies, with the Commission at its center. Over the course of the year, a total of 56 climate tech startups were selected and received support such as venture capital (VC) investment linkage, business commercialization assistance, and regulatory exemptions. The Commission announced that, starting in January next year, each participating institution will begin its own startup selection process.

Since the first year of the project, Shinhan Bank has been the only commercial bank to participate as an institution responsible for indirect support, including regulatory sandbox, public procurement, and green finance. The bank has provided customized green finance to startups selected for the "Net Zero Challenge X." Next year as well, Shinhan Bank plans to offer tailored green finance support by utilizing guarantee products in partnership with Korea Credit Guarantee Fund and Korea Technology Finance Corporation, including increased guarantee ratios, reductions in guarantee and evaluation fees, preferential loan interest rates, and ESG management consulting.

A Shinhan Bank official stated, "From the perspective of expanding productive finance, we will strengthen the climate tech startup ecosystem and fulfill our financial role and responsibility in fostering it as a future growth engine."