Events Recap

PCAF-KOREA Working Group:
Financial Activation Climate Institutions' Management Risk Tasks
   

On November 20, 2023, the Korea Sustainability Investing Forum (KoSIF) held a PCAF-Korea Working Group seminar at the DGB Financial Center. Marking the first meeting following the launch of PCAF-KOREA, the working group was convened under the theme "Financial Institutions' Climate Risk Management and Activation Tasks." Serving as an initial step toward new challenges, the gathering facilitated vibrant exchanges of views and shared strategic approaches to sustainable finance activities.

The working group opened with welcoming remarks from Hye Sook Moon, Managing Director at KB Financial Group, and Chun Seung Yang, Executive Director at KoSIF, followed by congratulatory addresses from Jae Ryong Heo, Department Head at DGB Financial Group, and Angelica Afanador, Executive Director of PCAF. The working group was sponsored by DGB Financial Group and attended by 21 working-level representatives from domestic PCAF-Korea member institutions. 

[Photo] November 20, 2023 PCAF-KOREA Working Group Seminar

Nam Young Park, Senior Researcher at KoSIF, delivered a presentation titled "Introduction to PCAF Trends," highlighting the importance of the PCAF Academy. She noted that the PCAF Academy provides structured training on calculating financed emissions using PCAF methodologies, offering participants a new opportunity to acquire specialized expertise and earn certifications. Composed of nine modules, the PCAF Academy delivers a comprehensive learning experience by providing in-depth understanding and data analysis methodologies across seven asset classes defined by PCAF. Furthermore, the PCAF Academy operates a certification system for participants who complete the coursework, helping them demonstrate their practical capacity to apply learned concepts in their professional operations while building credibility as financed emissions measurement experts.

[Photo] November 20, 2023 Jae Hak Hwang, Senior Examiner at the Financial Supervisory Service

Subsequently, Jae Hak Hwang, Senior Examiner at the Financial Supervisory Service, delivered a presentation on "Current Status and Challenges of Climate Risk Management." He detailed the importance of identifying, evaluating, and managing climate-related risks within climate risk frameworks, with particular emphasis on assessing transition risks and physical risks during climate risk identification.

In addition, Mi Ra Yu, Team Head at the Korea Federation of Banks, presented on "The Korea Federation of Banks' Climate Finance Support and Activation Tasks." Her presentation concluded with an introduction to the Climate Finance Database, upcoming implementation plans, the current state of climate finance support provided by the Federation, and short- and long-term strategic roadmaps for financial institutions and the Korea Federation of Banks.

UNEP FI Global Roundtable 2024: Overcoming data challenges in sustainable finance

This video is relevant because it features Angelica Afanador, Executive Director of PCAF (who delivered welcoming remarks at this event), discussing how financial institutions overcome data and emissions measurement challenges in sustainable finance.