Resources

 

2024 Fossil Fuel Finance White Paper

The 2024 Fossil Fuel Finance White Paper, jointly published by the Korea Sustainability Investment Forum(KoSIF) and the Office of National Assembly Member Kim Hyun Jung, provides a comprehensive analysis of Koream financial institutions’ exposure to fossil fuel investments, their structural characteristics, the challenges of energy transition, and key policy implications.

As the climate crisis intensifies-with large-scale wildfires, heatwaves, and extreme weather events becoming part of everyday life-financial institutions have emerged as a driving force in navigating energy transition and advancing toward a decarbonized society. This white paper diagnoses the current state of fossil fuel finance in Korea with concrete data and figures, while also proposing policy and institutional reforms needed for a sustainable transition.

[Table of Contents]

Preface

Kim Young-Ho, Chairman, KoSIF

Kim Hyun Jung, Member of the National Assembly, Democratic Party of Korea

The Climate Finance Transition: What are the Challenges for Korean Finance?

Yang Chun Seung, CEO, KoSIF

Executive Summary

Status of Fossil Fuel Finance in Korea

Comprehensive Analysis of Fossil Fuel Finance

Comprehensive Analysis of Coal Finance

Comprehensive Analysis of Natural Gas & Oil Finance

Comprehensive Analysis of Domestic Natural Gas Finance

Insurance Analysis and Energy Policy Trends

Comprehensive Analysis of Insurance

Energy Consumption and Policy Trends

From Coal Phase-Out to Renewable Energy

A Decade of Korea’s Coal Phase-Out Declarations

The Future of Energy Transformed by Finance

Appendix

Total Fossil Fuel Investments of Major Financial Institutions

Status of Net-Zero and Fossil Fuel Phase-Out Goal Setting

Status of Financed Emissions Calculation

Status of Membership in Global Initiative

[Key Findings]

Inquiries: Myungeun Song Senior Researcher (mileysong@kosif.org), Namyoung Park Department Head (nypark@kosif.org)