Shinhan Bank Sustainability Profile
Shinhan Bank, officially known as Shinhan Bank Co., Ltd., is a leading financial institution headquartered in Seoul, South Korea (KR). Established in 1897, it has evolved into a prominent player in the banking industry, offering a wide range of services including retail banking, corporate banking, and wealth management. With a strong presence in major operational regions across Asia and beyond, Shinhan Bank is recognised for its innovative financial solutions and customer-centric approach. The bank's core products, such as personal loans, savings accounts, and investment services, are designed to meet diverse client needs, setting it apart in a competitive market. Notably, Shinhan Bank has achieved significant milestones, including being one of the first Korean banks to expand internationally, solidifying its market position as a trusted financial partner.
DitchCarbon Score
How does Shinhan 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
Shinhan Bank's score of 63 is higher than 79% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Let us know if this data was useful to you
Shinhan Bank's reported carbon emissions
In 2023, Shinhan Bank reported total carbon emissions of approximately 69,756,600 kg CO2e for Scope 1 and 2 combined, with Scope 1 emissions at about 14,967,000 kg CO2e and Scope 2 emissions at approximately 54,790,000 kg CO2e. The bank's Scope 3 emissions were significantly higher, totalling about 55,986,848,000 kg CO2e, primarily driven by investments. Shinhan Bank has set ambitious climate commitments, aiming for a 46% reduction in its own carbon emissions (Scope 1) by 2030 compared to 2019 levels. Additionally, the bank plans to achieve an 88% reduction in Scope 2 emissions by 2040, also relative to 2019. The bank has committed to reaching net-zero emissions across all scopes by 2044, with a long-term target of achieving net-zero by 2050. These targets are aligned with the Science Based Targets initiative (SBTi) and reflect the bank's commitment to addressing climate change through significant reductions in its operational carbon footprint. Shinhan Bank's initiatives include expanding participation in eco-friendly projects and investing in renewable energy technologies to support these goals.
Unlock detailed emissions data
Access structured emissions data, company-specific emission factors, and source documents
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 14,086,500 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 76,108,400 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 20,891,700 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 |
How Carbon Intensive is Shinhan Bank's Industry?
How Carbon Intensive is Shinhan Bank's Location?
Shinhan Bank's Scope 3 Categories Breakdown
Shinhan Bank's Scope 3 emissions, which increased by 2% last year and increased significantly since 2019, demonstrating supply chain emissions tracking. Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Investments" being the largest emissions source at 100% of Scope 3 emissions.
Top Scope 3 Categories
Shinhan 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.
Shinhan 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.
Security Bank Corporation
Hua Nan Commercial Bank
Standard Chartered PLC
Hyundai Card Co., Ltd.
Rcbc
Deutsche Bank
Frequently Asked Questions
Common questions about Shinhan Bank's sustainability data and climate commitments