KCIS Launches "Climate Finance Web Portal" to Support Discovery of Green Companies
The Korea Credit Information Services (KCIS) announced the official launch of its “Climate Finance Web Portal,” a platform aimed at supporting financial institutions in assessing the compliance of companies with the Korean Green Taxonomy (K-Taxonomy) and discovering green companies.
KCIS stated that it began the official operation of the joint financial-sector infrastructure, the Climate Finance Web Portal, on August 25. KCIS had previously operated a pilot service for the web portal since May 14. The portal offers a “compliance assessment system,” which allows users to confirm, step by step, whether a company’s use of funds aligns with the criteria set out in the K-Taxonomy.
KCIS has also established the “Climate Finance Company Information Database (DB),” which contains more than 30 types of information, including corporate financial data, green certification, environment-related technologies, and the status of environmental licenses and permits. The official service now adds “post-management” as well as an “application and intermediation for compliance assessment.” This allows financial institution representatives to check, even after supplying funds, whether the use of funds meets K-Taxonomy standards based on criteria for recognition, exclusion, and protection.
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The platform also provides a system for financial institutions to apply to external review agencies for compliance assessment and to exchange results. Going forward, KCIS plans to link climate finance company information with general corporate lending information from financial institutions and to offer services that recommend green companies. KCIS President Choi Yusam stated, “It is meaningful in that it supports financial institutions in carrying out all aspects of climate finance work more efficiently,” adding, “We will continue to support the vitalization and ecosystem development of climate finance by leveraging our data resources and financial infrastructure such as the financial emissions platform.”
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