Shinhan Bank
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 60 is higher than 77% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Shinhan Bank's reported carbon emissions
In 2023, Shinhan Bank reported total carbon emissions of approximately 74,967,000 kg CO2e, comprising 14,967,000 kg CO2e from Scope 1 and 54,790,000 kg CO2e from Scope 2 emissions. The bank's Scope 3 emissions were significantly higher, at about 55,987,000,000 kg CO2e, primarily driven by investments. In 2022, the bank's emissions were slightly lower, with total emissions of about 75,970,000 kg CO2e, including 14,697,000 kg CO2e from Scope 1 and 85,383,700 kg CO2e from Scope 2. Shinhan Bank has set ambitious climate commitments, aiming for a 46% reduction in its own carbon emissions by 2030 compared to 2019 levels. This target applies to both Scope 1 and Scope 2 emissions. Furthermore, the bank plans to achieve an 88% reduction in these emissions by 2040. Long-term goals include reaching net-zero emissions by 2044, with interim targets of 42% reduction by 2030 and 84% by 2040, as per the Science Based Targets initiative (SBTi) guidelines. The bank's emissions data and reduction targets are sourced from Shinhan Financial Group Co., Ltd., reflecting its commitment to sustainability and responsible banking practices.
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| 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 |
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.
Shinhan Bank is participating in some 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.
