Korean Reinsurance Company Sustainability Profile
Korean Reinsurance Company, often referred to as Korean Re, is a leading player in the global reinsurance industry, headquartered in Seoul, South Korea. Established in 1963, the company has grown to become a prominent provider of reinsurance solutions across Asia and beyond, with a strong presence in key markets including Japan, China, and Southeast Asia. Korean Re offers a diverse range of products and services, specialising in property, casualty, and life reinsurance. Its commitment to innovation and customer-centric solutions sets it apart in a competitive landscape. The company has achieved significant milestones, including being the first Korean reinsurer to be listed on the Korea Exchange, solidifying its market position. With a robust financial foundation and a reputation for reliability, Korean Re continues to play a vital role in supporting the insurance industry’s growth and stability.
DitchCarbon Score
How does Korean Reinsurance Company'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 Coal Tar Production 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
Korean Reinsurance Company's score of 14 is lower than 85% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Korean Reinsurance Company's reported carbon emissions
In 2023, the Korean Reinsurance Company, headquartered in South Korea (KR), reported total carbon emissions of approximately 997,600 kg CO2e. This figure includes 78,100 kg CO2e from Scope 1 emissions, primarily from mobile combustion, and 705,200 kg CO2e from Scope 2 emissions related to purchased electricity. Comparatively, in 2022, the company recorded total emissions of about 1,079,600 kg CO2e, with Scope 1 emissions at 68,800 kg CO2e and Scope 2 emissions at 778,300 kg CO2e. This indicates a reduction of approximately 82,000 kg CO2e in total emissions from 2022 to 2023. Despite these figures, the Korean Reinsurance Company has not disclosed any specific reduction targets or commitments under the Science Based Targets initiative (SBTi) or other climate pledges. The company’s emissions data is not cascaded from a parent organization, indicating that it operates independently in its reporting and climate initiatives. Overall, while the Korean Reinsurance Company has made strides in reducing its carbon footprint, further commitments and transparency regarding future climate goals would enhance its sustainability profile.
How Carbon Intensive is Korean Reinsurance Company's Industry?
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Korean Reinsurance Company'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.
Korean Reinsurance Company has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
