Hanwha Life Insurance Sustainability Profile
Hanwha Life Insurance, a prominent player in the insurance industry, is headquartered in South Korea (KR) and operates extensively across Asia. Founded in 1946, the company has established itself as a leader in life insurance, offering a diverse range of products including individual and group life insurance, health insurance, and retirement plans. With a commitment to innovation, Hanwha Life Insurance stands out for its customer-centric approach and advanced digital solutions, catering to the evolving needs of policyholders. The company has achieved significant milestones, including recognition for its financial strength and stability, positioning it as a trusted choice in the market. As a subsidiary of the Hanwha Group, Hanwha Life continues to enhance its reputation through strategic growth and a focus on sustainable practices.
DitchCarbon Score
How does Hanwha Life 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 Life Insurance's score of 49 is higher than 66% 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 Life Insurance's reported carbon emissions
In 2023, Hanwha Life Insurance reported total carbon emissions of approximately 7,872,000 kg CO2e, comprising 755,000 kg CO2e from Scope 1, 4,327,000 kg CO2e from Scope 2, and 6,872,000 kg CO2e from Scope 3 emissions. Notably, the company has set ambitious targets to reduce its emissions, aiming for a 40% reduction in Scope 1 and Scope 2 emissions by 2025 compared to 2018 levels. Additionally, Hanwha Life has committed to achieving a 32.8% reduction in Scope 2 emissions from 2022 to 2030. The company is also focused on long-term sustainability, with a goal of carbon neutrality by 2050, aligning its greenhouse gas reduction targets with national carbon reduction goals. This commitment reflects a proactive approach to climate change, ensuring that Hanwha Life Insurance remains a responsible player in the insurance industry while addressing its environmental impact.
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| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Scope 1 | 2,104,270 | 0,000,000 | 0,000,000 | 000,000 |
| Scope 2 | 9,284,560 | 00,000,000 | 00,000,000 | 0,000,000 |
| Scope 3 | 11,648,000 | 00,000,000 | 00,000,000 | 0,000,000 |
How Carbon Intensive is Hanwha Life Insurance's Industry?
How Carbon Intensive is Hanwha Life Insurance's Location?
Hanwha Life Insurance's Scope 3 Categories Breakdown
Hanwha Life Insurance's Scope 3 emissions, which decreased by 60% last year and decreased by approximately 41% since 2020, demonstrating supply chain emissions tracking. Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 57% of total emissions under the GHG Protocol, with "Investments" being the largest emissions source at 10960% of Scope 3 emissions.
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Hanwha Life 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 Life 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.
