hanwha general insurance Sustainability Profile
Hanwha General Insurance, a prominent player in the South Korean insurance industry, is headquartered in Seoul, South Korea (KR). Established in 1946, the company has evolved significantly, marking key milestones in its journey towards becoming a trusted provider of comprehensive insurance solutions. Specialising in a range of services, including property, casualty, and life insurance, Hanwha General Insurance distinguishes itself through innovative products tailored to meet diverse customer needs. The company is recognised for its robust market position, consistently ranking among the top insurers in South Korea. With a commitment to customer satisfaction and a focus on technological advancements, Hanwha General Insurance continues to set industry standards, ensuring clients receive reliable coverage and exceptional service.
DitchCarbon Score
How does hanwha general insurance's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Insurance Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
hanwha general insurance's score of 38 is higher than 55% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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hanwha general insurance's reported carbon emissions
In 2023, Hanwha General Insurance reported total carbon emissions of approximately 5081000 kg CO2e from Scope 1 and Scope 2 sources combined. Specifically, Scope 1 emissions accounted for about 755000 kg CO2e, while Scope 2 emissions were approximately 4327000 kg CO2e. Additionally, the company disclosed significant Scope 3 emissions, with investments contributing about 753161000 kg CO2e and employee commuting adding approximately 37100 kg CO2e. Hanwha General Insurance has set ambitious reduction targets, aiming for a 40% reduction in Scope 1 and Scope 2 emissions compared to 2018 levels by 2025. This commitment reflects the company's proactive approach to climate action and aligns with industry standards for sustainability. The reduction targets are part of a broader strategy to enhance environmental performance and mitigate climate impact. The emissions data is not cascaded from any parent organization, indicating that the figures are independently reported by Hanwha General Insurance Co., Ltd. This transparency underscores the company's commitment to addressing its carbon footprint and contributing to global climate goals.
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| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | - | - | 000,000 |
| Scope 2 | - | - | 0,000,000 |
| Scope 3 | 661,500,000 | 000,000,000 | 000,000,000 |
How Carbon Intensive is hanwha general insurance's Industry?
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hanwha general insurance's Scope 3 Categories Breakdown
hanwha general insurance's Scope 3 emissions, which increased by 25% last year and increased by approximately 14% since 2021, demonstrating supply chain emissions tracking. Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Investments" being the largest emissions source at 100% of Scope 3 emissions.
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hanwha general insurance's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
hanwha general insurance has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
