Bank of Korea called to adopt green monetary policies

Bank of Korea called to adopt green monetary policies

Positive Money, a UK-based advocacy group, and the Institute for Green Transformation, a South Korean thinktank, have jointly called on the Bank of Korea (BoK) to embed climate finance into its monetary policy framework as the country grapples with mounting inflationary pressure driven by fossil fuel dependency. According to Green Central Banking, the two organisations have published a briefing note urging the BoK to move away from conventional …

Bank of Korea urged to adopt green monetary policies

The Bank of Korea (BoK), South Korea’s central bank, is facing calls from advocacy organisations to incorporate climate finance into its monetary policy framework as the country’s currency weakens and inflation pressures mount. According to Green Central Banking, the South Korean won has fallen to its lowest point since the 2008 global financial crisis, driven by heightened demand for the US dollar as Asian nations seek to source American crude …