Industrial Bank Of Korea

Industrial Bank Of Korea's reported carbon emissions

Industrial Bank of Korea (IBK), headquartered in KR and operating in Services auxiliary to financial intermediation (67), has reported its carbon emissions across various scopes. For the reporting year 2023, IBK's total emissions were approximately 78.9 million kg CO2e. This figure comprised approximately 6.2 million kg CO2e for Scope 1, approximately 48.9 million kg CO2e for Scope 2, and approximately 16.7 million kg CO2e for Scope 3. Within Scope 3, purchased goods and services accounted for about 1.2 million kg CO2e, business travel for approximately 3.5 million kg CO2e, employee commute for approximately 11.8 million kg CO2e, and capital goods for about 246,240 kg CO2e. In 2022, IBK's total emissions were approximately 82.3 million kg CO2e. Scope 1 emissions were around 6.6 million kg CO2e, Scope 2 emissions were about 49.2 million kg CO2e, and Scope 3 emissions totalled approximately 16.8 million kg CO2e. For Scope 3, purchased goods and services were approximately 1.2 million kg CO2e, business travel was about 3.2 million kg CO2e, employee commute was approximately 12 million kg CO2e, and capital goods were around 313,810 kg CO2e. Emissions for 2021 were approximately 83.1 million kg CO2e in total. Scope 1 accounted for about 8.1 million kg CO2e, Scope 2 for approximately 49 million kg CO2e, and Scope 3 for about 17 million kg CO2e. Individually, purchased goods and services in Scope 3 were approximately 1.2 million kg CO2e, business travel about 3.1 million kg CO2e, employee commute approximately 12.4 million kg CO2e, and capital goods around 283,050 kg CO2e. In 2020, IBK's total emissions were approximately 79.4 million kg CO2e. This included approximately 9.5 million kg CO2e for Scope 1, about 50.3 million kg CO2e for Scope 2, and approximately 10 million kg CO2e for Scope 3. Specific Scope 3 categories reported were purchased goods and services at about 1.4 million kg CO2e, business travel at approximately 4.2 million kg CO2e, employee commute at about 4.3 million kg CO2e, and capital goods at around 131,020 kg CO2e. IBK has set long-term goals, aiming for carbon neutrality for its financial assets by 2050, alongside reducing its own Scope 1 and 2 emissions. The bank also has near-term Science Based Targets initiative (SBTi) commitments. These include targets classified as 1.5°C, with a near-term target year of 2030 for some commitments, and a 2028 near-term target year for others. The SBTi targets covering company operations (Scopes 1 and 2) are consistent with reductions needed to limit warming to 1.5°C. IBK's portfolio targets cover 38% of its total investment and lending by total assets as of 2021, with required activities making up 6% of this.