Industrial Bank Of Korea
Industrial Bank of Korea (IBK), headquartered in South Korea, is a prominent financial institution established in 1961. With a strong focus on supporting small and medium-sized enterprises (SMEs), IBK has carved a niche in the banking industry, providing tailored financial solutions that foster business growth. The bank operates extensively across South Korea and has expanded its reach to key international markets, enhancing its global presence. IBK's core offerings include commercial banking services, corporate financing, and investment banking, distinguished by their commitment to customer-centric service and innovative financial products. Recognised for its robust market position, IBK has achieved significant milestones, including being one of the largest banks in South Korea by assets. Its dedication to supporting the SME sector has earned it a reputation as a vital player in the nation's economic development.
DitchCarbon Score
How does Industrial Bank Of Korea'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 Services Auxiliary to Financial Intermediation 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
Industrial Bank Of Korea's score of 50 is higher than 96% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Industrial Bank Of Korea's reported carbon emissions
In 2023, the Industrial Bank of Korea (IBK) reported total carbon emissions of approximately 49,991,000 kg CO2e, comprising 6,242,000 kg CO2e from Scope 1, 48,991,000 kg CO2e from Scope 2, and 16,720,080 kg CO2e from Scope 3 emissions. This reflects a continued commitment to reducing its carbon footprint, with significant reductions observed over the past few years. For instance, Scope 1 emissions decreased from 8,120,000 kg CO2e in 2021 to 6,242,000 kg CO2e in 2023, while Scope 2 emissions have also shown a downward trend. IBK has set near-term targets aligned with the Science Based Targets initiative (SBTi), aiming for a 1.5°C pathway by 2030. These targets cover 38% of its total investment and lending portfolio, with a focus on reducing emissions from company operations (Scopes 1 and 2). The bank's commitment to sustainability is further underscored by its ongoing efforts to integrate climate considerations into its financial activities, although it has not yet committed to a net-zero target. Overall, IBK's emissions data and climate commitments reflect a proactive approach to addressing climate change, positioning itself as a responsible financial institution in South Korea.
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Access structured emissions data, company-specific emission factors, and source documents
| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Scope 1 | 9,532,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 50,333,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 10,039,430 | 00,000,000 | 00,000,000 | 00,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Industrial Bank Of Korea is committed to some reduction initiatives we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
