Industrial Bank of Korea

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Direct Lobbying Transparency

Overall Assessment	Comment	Score
Comprehensive	Industrial Bank of Korea provides a very full picture of its climate-policy lobbying. It identifies a wide range of specific measures it engages on, including the Korean Emissions Trading Scheme (K-ETS), the Renewable Portfolio Standard and associated K-REC system, the Government GHG Energy Target Management Scheme, the Korean green taxonomy (K-Taxonomy), RE100 implementation and amendments to “the law on the early recognition of overseas carbon credits.” The bank also describes in detail how and where it seeks to influence those policies: it sits on the “Emissions Trading System Market Stabilization Council of the Ministry of Environment,” the “Corporate allocation decision committee,” and the “Green Growth Committee under the Prime Minister’s Office”; has an MOU with the Ministry of Environment to act as a K-ETS market maker; takes part in K-Taxonomy pilot projects run by the Financial Services Commission and Ministry of Environment; and engages directly with the National Assembly, the Korea Exchange and the Ministries of Trade, Industry & Energy and of Land, Infrastructure & Transport. Finally, IBK is explicit about the results it pursues, advocating for “benchmarking the EU ETS MSR approach to seek market stabilization measures tailored to Korea,” “early recognition of overseas carbon credits,” linking RE100 with the GHG target-management system, allowing private financial institutions to trade in K-ETS and providing carbon-credit incentives for small renewable projects not covered by the RPS, all aimed at expanding green finance and strengthening the domestic carbon market. The specificity across policies, mechanisms and desired outcomes demonstrates a high level of transparency in the bank’s climate-related lobbying disclosures.	4

Lobbying Governance

Overall Assessment	Comment	Score
Limited	Industrial Bank of Korea discloses a "public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement", reflecting a policy-level promise to align its lobbying with the Paris goals. However, the company does not disclose any formal governance process for overseeing or managing climate-related lobbying activities, including no named individual or oversight body responsible for reviewing alignment, no monitoring procedures, and no mechanisms for ensuring its direct or indirect lobbying actions support its climate commitments. We found no evidence of a process for reviewing and managing lobbying activities nor criteria for assessing participation in industry associations in relation to climate policy alignment.	1