Kakao Bank and UNICEF Announce Partnership for $2 Million Climate Change Fund
In a significant step towards addressing climate risks for future generations, KakaoBank, UNICEF, and UNICEF's Korean Committee have formed a new global partnership. This tripartite collaboration, announced at a signing ceremony in Seoul, will last for two years and focus on supporting children and teenagers through climate-related projects across Asian countries, including Indonesia, Thailand, and Cambodia.
KakaoBank will contribute $1 million annually, with an additional $1 million pledged each year. While the global social contribution fund operated by KakaoBank will not be part of the partnership's funds, it has previously supported various climate-related projects, such as solar power installations in Cambodian schools and health centers, and eco-friendly energy for water and sanitation in Laos.
The partnership funds will be used to execute several initiatives:
- In Indonesia, schools are being upgraded with improved water and sanitation infrastructure.
- Cambodia is developing heat-resilient educational facilities.
- Thailand is enhancing youth engagement in public policy through climate education and a climate action conference.
Previously, KakaoBank and the Korean Committee for UNICEF have collaborated on projects such as climate education programs for youth in Malaysia and Thailand, and the co-hosting of "Save Race 2025," an eco-friendly charity marathon. All participation fees from this event will go towards children affected by the climate crisis.
KakaoBank CEO Yun Ho-young emphasized the bank’s commitment as the only Korean company maintaining a long-term, climate-focused partnership with UNICEF. He pledged to expand social contributions beyond national borders and environmental conditions.
This partnership highlights KakaoBank's strategic social responsibility efforts to address climate risks impacting future generations through education, infrastructure improvement, and youth empowerment in the Asia Pacific region. The projects may not be limited to Indonesia, Thailand, and Cambodia specifically, and may extend beyond Asian countries.
[1] Source: KakaoBank press release, dated [insert date]
- In light of the global partnership between KakaoBank, UNICEF, and UNICEF's Korean Committee, the finance sector of KakaoBank will invest $1 million annually to support environmental-science projects related to climate-change, particularly focusing on infrastructure improvements, education, and youth empowerment in the Asia Pacific region.
- Beyond the current partnership focus on Indonesia, Thailand, and Cambodia, KakaoBank intends to extend its social contributions, as pledged by CEO Yun Ho-young, to address climate risks impacting future generations, potentially involving other countries in the Asia Pacific region and beyond.
