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 53 is higher than 95% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industrial Bank Of Korea's reported carbon emissions
In 2023, the Industrial Bank of Korea (IBK) reported total carbon emissions of approximately 62,420,000 kg CO2e from Scope 1, 48,991,000 kg CO2e from Scope 2, and 16,720,080 kg CO2e from Scope 3 emissions. The combined emissions from Scope 1 and 2 amounted to about 54,923,000 kg CO2e. IBK has set ambitious climate commitments, aiming for carbon neutrality for its own emissions (Scope 1 and 2) and financial assets by 2050. This long-term target reflects a commitment to reducing its carbon footprint significantly. Additionally, IBK has established near-term targets aligned with a 1.5°C pathway, covering 38% of its total investment and lending portfolio as of 2021. In previous years, IBK's emissions were as follows: in 2022, it emitted approximately 65,960,000 kg CO2e (Scope 1: 6,596,000 kg CO2e; Scope 2: 49,242,000 kg CO2e; Scope 3: 16,759,730 kg CO2e), and in 2021, emissions totalled about 67,721,140 kg CO2e (Scope 1: 8,120,000 kg CO2e; Scope 2: 48,957,000 kg CO2e; Scope 3: 16,972,140 kg CO2e). IBK's ongoing efforts to address climate change demonstrate its commitment to sustainability and responsible banking practices within the financial sector.
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| 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 participating in some of the initiatives that 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.
