South Korea's Financial Services Commission convened the first meeting of an interagency climate finance task force and reported that five policy finance institutions supplied KRW 42 trillion through July. This represented 74.1% of the KRW 56.7 trillion annual target and 127% of the cumulative target for July. The update tracks the expansion of climate policy finance under the commission's broader 2026 policy agenda and a KRW 790 trillion supply plan for 2026-2035. The task force also reviewed measures to make transition finance operational. A draft code of practice translating the February transition finance guidelines into detailed standards was completed by the end of August, with a final version planned by the end of October to support pilot products. Sectoral decarbonization roadmaps for five emissions-intensive industries will reflect South Korea's 2035 nationally determined contribution and are expected to be linked to transition finance eligibility criteria. A climate finance portal launched in August supports financial institutions with company identification, taxonomy assessments and post-financing monitoring. The commission will use the task force to monitor delivery and address implementation issues. Subsequent meetings will consider the legal and institutional framework for climate finance and links between sustainability disclosures and transition finance.
2026-09-14South Korea Financial Services Commission
South Korea's Financial Services Commission launches interagency climate finance task force, policy institutions supply KRW 42 trillion by July
South Korea's Financial Services Commission reported that five policy finance institutions supplied KRW 42 trillion in climate finance through July, reaching 74.1% of the annual target. Its new interagency task force will coordinate transition finance standards, sectoral decarbonization roadmaps and climate finance data infrastructure. A final transition finance code of practice is planned by the end of October.