Posted : 2023-04-19 15:28
A promotional image of the ReWorld Forum?/ Courtesy of SDX Foundation
By Lee Yeon-woo
SDX Foundation, a non-profit organization committed to sustainable development through digital transformation, will host the "ReWorld Forum" on April 26, with a key focus on transitioning the current finance system to achieve carbon reduction.
"ReWorld Forum is expected to develop into an international event that can advance ESG management based on carbon reduction," said SDX Foundation Chairman Jhun Ha-jin. "The forum aims to take a leading role in digital transformation-based carbon reduction transition finance, turning the climate crisis into an opportunity."
The forum is expected to explore solutions for the country's financial institutions, as its global counterparts increasingly embrace transition finance to achieve carbon reduction targets and transform management based on environmental, social and corporate governance (ESG) principles.
According to the foundation, the scale of such finance is expected to reach $37 trillion in Asia alone by 2030. The foundation explained that institutions in Korea are likely to face more struggles for transition as more than one-third of their loaned companies manufacturing businesses.
"If Korean financial institutions fail to make progress in transitioning to sustainable practices, they are likely to face challenges on multiple fronts," said Choi Jung-kiu, a managing director and partner at Boston Consulting Group, Singapore.
"With finance for carbon reduction projected to account for 50-70 percent of the market between 2025 and 2030, Korean financial institutions may struggle to maintain sales if they are not willing to adapt," added Choi, who will deliver a keynote address at the forum as Standing Representative of ReWorld Forum, SDX Foundation.
Including Choi, multiple experts both from private and public sector backgrounds are expected to attend the forum. They aim to discuss the latest international trends and ways to enable financial institutions to participate actively in this transition.
Kim Jin-you, a partner at Samil PwC, will provide practical guidance on addressing the climate crisis at the working level, while Kim Seong-ju, the head of the ESG team at the Financial Supervisory Service, will discuss the institution's response to and direction for ESG.
In addition, the forum aims to serve as a bridge between industry stakeholders and regulatory authorities. The event will be attended by key figures such as Land, Infrastructure and Transport Minister Won Hee-ryong, Environment Minister Han Wha-jin and the head of the Presidential Commission on Carbon Neutrality and Green Growth Kim Sang-hyup as well as former United Nations Secretary-General Ban Ki-moon.
Posted : 2023-04-19 15:28
A promotional image of the ReWorld Forum?/ Courtesy of SDX Foundation
By Lee Yeon-woo
SDX Foundation, a non-profit organization committed to sustainable development through digital transformation, will host the "ReWorld Forum" on April 26, with a key focus on transitioning the current finance system to achieve carbon reduction.
"ReWorld Forum is expected to develop into an international event that can advance ESG management based on carbon reduction," said SDX Foundation Chairman Jhun Ha-jin. "The forum aims to take a leading role in digital transformation-based carbon reduction transition finance, turning the climate crisis into an opportunity."
The forum is expected to explore solutions for the country's financial institutions, as its global counterparts increasingly embrace transition finance to achieve carbon reduction targets and transform management based on environmental, social and corporate governance (ESG) principles.
According to the foundation, the scale of such finance is expected to reach $37 trillion in Asia alone by 2030. The foundation explained that institutions in Korea are likely to face more struggles for transition as more than one-third of their loaned companies manufacturing businesses.
"If Korean financial institutions fail to make progress in transitioning to sustainable practices, they are likely to face challenges on multiple fronts," said Choi Jung-kiu, a managing director and partner at Boston Consulting Group, Singapore.
"With finance for carbon reduction projected to account for 50-70 percent of the market between 2025 and 2030, Korean financial institutions may struggle to maintain sales if they are not willing to adapt," added Choi, who will deliver a keynote address at the forum as Standing Representative of ReWorld Forum, SDX Foundation.
Including Choi, multiple experts both from private and public sector backgrounds are expected to attend the forum. They aim to discuss the latest international trends and ways to enable financial institutions to participate actively in this transition.
Kim Jin-you, a partner at Samil PwC, will provide practical guidance on addressing the climate crisis at the working level, while Kim Seong-ju, the head of the ESG team at the Financial Supervisory Service, will discuss the institution's response to and direction for ESG.
In addition, the forum aims to serve as a bridge between industry stakeholders and regulatory authorities. The event will be attended by key figures such as Land, Infrastructure and Transport Minister Won Hee-ryong, Environment Minister Han Wha-jin and the head of the Presidential Commission on Carbon Neutrality and Green Growth Kim Sang-hyup as well as former United Nations Secretary-General Ban Ki-moon.