Kb Kookmin Bank Sustainability Profile
Kb Kookmin Bank, a leading financial institution in South Korea, is headquartered in Seoul and operates extensively across the Asia-Pacific region. Founded in 1963, the bank has established itself as a key player in the banking industry, offering a diverse range of services including retail banking, corporate finance, and wealth management. With a commitment to innovation, Kb Kookmin Bank has introduced unique products such as digital banking solutions and tailored financial services that cater to both individual and business clients. The bank's strong market position is underscored by its significant achievements, including being one of the largest banks in South Korea by assets. Kb Kookmin Bank continues to enhance its reputation through customer-centric services and a robust digital transformation strategy.
DitchCarbon Score
How does Kb Kookmin Bank'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
Kb Kookmin Bank's score of 46 is higher than 65% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Kb Kookmin Bank's reported carbon emissions
In 2022, KB Kookmin Bank reported total carbon emissions of approximately 224.9 million kg CO2e, comprising 95.9 million kg CO2e from Scope 1 and 129 million kg CO2e from Scope 2 emissions. The bank has not disclosed any Scope 3 emissions data for this year. Comparatively, in 2021, the bank's total emissions were approximately 233 million kg CO2e, with Scope 1 emissions at 100.5 million kg CO2e and Scope 2 emissions at 132.5 million kg CO2e. This indicates a reduction in total emissions of about 8.1 million kg CO2e from 2021 to 2022. The emissions data for KB Kookmin Bank is cascaded from its parent company, KB Financial Group Inc., which is responsible for the overarching climate commitments and initiatives. However, there are currently no specific reduction targets or climate pledges disclosed by KB Kookmin Bank or its parent organisation. Overall, KB Kookmin Bank's emissions reflect its operational impact, and while it has shown some reduction in emissions over the past year, further commitments and targets would enhance its climate strategy.
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| 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|
| Scope 1 | 139,888,000 | 000,000,000 | 000,000,000 | 00,000,000 |
| Scope 2 | 21,778,141,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 3 | 26,761,188,000 | - | - | - |
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Kb Kookmin Bank's Scope 3 Categories Breakdown
Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 55% of total emissions under the GHG Protocol, with "Purchased Goods and Services" being the primary emissions source at 4% of Scope 3 emissions.
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Kb Kookmin Bank'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.
Kb Kookmin Bank has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
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