Nonghyup Bank purchases 5,254 tons of 'farmer carbon credits' from 20 farms

NH Nonghyup Bank has actively supported environmental initiatives by purchasing 5,254 tons of "farmer carbon credits" from 20 different farms across South Korea. This transaction is valued at approximately 100 million won (around $73,000).

Farmer carbon credits are government-certified credits earned by farmers who reduce greenhouse gas emissions by adopting eco-friendly, low-carbon farming technologies. Nonghyup Bank has been involved in this program since 2023, providing financial support for farmers' certification costs and directly purchasing the emission reduction credits.

The bank has committed to purchasing significant amounts of carbon credits in the coming years, with plans to buy 1,419 tons in 2024 and 8,245 tons in 2025. These purchased credits will be utilized by Nonghyup Bank itself to offset its own greenhouse gas emissions, contributing to its corporate environmental responsibility goals.

Nonghyup Bank stated its commitment to "actively supporting voluntary greenhouse gas reduction activities in the agricultural and rural sectors." The bank also highlighted that this initiative helps farmers generate stable additional income through their participation in carbon reduction efforts.

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We are actively supporting voluntary greenhouse gas reduction activities in the agricultural and rural sectors. Through the purchase of emission credits, we are also helping farmers create stable additional income.