NH Nonghyup Bank buys 5,254 t of farmer carbon credits

NH Nonghyup Bank announced it has purchased a total of 5,254 tonnes of agricultural carbon credits from 20 farms across South Korea. The credits, worth about 1 billion won, are government‑certified emissions reductions generated by low‑carbon farming techniques.

The bank has been supporting farmer participation in the carbon‑credit market since 2023, covering certification costs and buying surplus credits – 1,419 t in 2023 and 8,245 t in 2024 – to offset its own greenhouse‑gas emissions. Bank president Kang Tae‑young said the climate crisis threatens agriculture and that the program provides additional income to farmers while advancing carbon‑reduction goals. The purchase is part of the bank’s broader ESG agenda, which also includes solar installations, renewable‑energy power‑purchase agreements, and electrified vehicle fleets.

The acquired credits will be retired by the bank to neutralise its own emissions, demonstrating a corporate‑level model for voluntary climate mitigation in the agricultural sector.