Ministry of Climate, Environment and Energy signs MOU with KB Kookmin Bank, Industrial Bank of Korea to expand climate action program

Banks to offer bonus points and develop financial products with preferential rates for climate citizens

Participants pose for a photo at the "Climate Action Expansion MOU Signing Ceremony" held Thursday at the Korea Federation of Banks building in Jung-gu, Seoul. From left: Song Byeong-cheol, deputy president of KB Kookmin Bank; Jang Min-yeong, president of Industrial Bank of Korea; Climate, Environment and Energy Minister Kim Sung-hwan; and Nam Gwang-u, president of the Korea Environmental Industry and Technology Institute. [Ministry of Climate, Environment and Energy]
Participants pose for a photo at the "Climate Action Expansion MOU Signing Ceremony" held Thursday at the Korea Federation of Banks building in Jung-gu, Seoul. From left: Song Byeong-cheol, deputy president of KB Kookmin Bank; Jang Min-yeong, president of Industrial Bank of Korea; Climate, Environment and Energy Minister Kim Sung-hwan; and Nam Gwang-u, president of the Korea Environmental Industry and Technology Institute. [Ministry of Climate, Environment and Energy]

South Korea's Ministry of Climate, Environment and Energy signed a "Korea Climate Action" MOU Thursday with the Korea Environmental Industry and Technology Institute, KB Kookmin Bank and Industrial Bank of Korea at the Korea Federation of Banks building in Jung-gu, Seoul.

The agreement aims to broaden participation in the "Korea Climate Action" and "Carbon Neutrality Points" programs — which reward everyday climate-friendly behavior through financial institutions' mobile platforms — and to expand the tangible economic benefits available to participants.

Users who sign up for the Carbon Neutrality Points service and complete climate citizen registration through the participating banks' mobile apps will receive the standard 1,000-won Carbon Neutrality Points reward, along with additional points from each bank for a limited period.

A referral event will also offer bonus points to users who invite friends, encouraging the spread of climate action through personal social networks.

The banks plan to develop savings and deposit products with preferential interest rates for climate card holders, and to expand cooperation with other commercial banks to deliver more meaningful financial benefits that encourage broader participation in climate action.

"For climate action to take root successfully in people's daily lives, it must be easy for anyone to join and the benefits of participation must be clearly felt," Climate, Environment and Energy Minister Kim Sung-hwan said. "Using this agreement as a springboard, we will continue to expand this model of public-private cooperation, where small everyday actions by citizens translate into real financial rewards."


thlee@heraldcorp.com