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KakaoBank
KakaoBank, officially known as Kakao Bank Corp., is a leading digital bank headquartered in South Korea (KR). Founded in 2016, it has rapidly established itself as a key player in the financial technology sector, primarily serving the South Korean market. The bank's innovative approach to banking includes a range of core services such as online savings accounts, personal loans, and mobile payment solutions, all designed to enhance user convenience and accessibility. KakaoBank distinguishes itself with its seamless digital experience, leveraging advanced technology to provide efficient banking services. Since its inception, the bank has achieved significant milestones, including a successful IPO in 2021, solidifying its position as a market leader in the digital banking industry. With a strong focus on customer-centric solutions, KakaoBank continues to redefine the banking landscape in South Korea and beyond.
DitchCarbon Score
How does KakaoBank'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 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
KakaoBank's score of 47 is higher than 70% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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KakaoBank's reported carbon emissions
In 2023, KakaoBank reported total carbon emissions of approximately 60,238,000 kg CO2e across all scopes. This includes 358,000 kg CO2e from Scope 1, which covers direct emissions, and 53,426,000 kg CO2e from Scope 2, representing indirect emissions from purchased electricity. The majority of emissions, about 60,238,000 kg CO2e, stem from Scope 3, which includes various indirect emissions categories such as investments (38,656,000 kg CO2e) and capital goods (14,766,000 kg CO2e). KakaoBank's emissions have shown fluctuations over the years. In 2022, the total emissions were approximately 70,517,000 kg CO2e, with Scope 1 at 248,000 kg CO2e and Scope 2 at 67,143,000 kg CO2e. The previous year, 2021, saw total emissions of about 69,393,000 kg CO2e, with Scope 1 emissions at 233,000 kg CO2e and Scope 2 at 85,087,000 kg CO2e. Despite these figures, KakaoBank has not set specific reduction targets or initiatives as part of its climate commitments, nor does it participate in the Science Based Targets initiative (SBTi). The company has disclosed emissions data for all relevant scopes, indicating a commitment to transparency in its environmental impact reporting. Overall, while KakaoBank has made strides in emissions reporting, it currently lacks defined reduction targets or significant climate pledges, positioning it within an industry context that increasingly prioritises sustainability and carbon neutrality.
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| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | - | - | 000,000 | 000,000 | 000,000 |
| Scope 2 | 1,525,220 | 0,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | - | - | 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.
KakaoBank is not participating in any 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.
