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 43 is higher than 95% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Shinhan Bank's reported carbon emissions
In 2023, Shinhan Bank reported total carbon emissions of approximately 55,986,848,000 kg CO2e, comprising Scope 1 emissions of about 14,967,000 kg CO2e, Scope 2 emissions of approximately 54,790,000 kg CO2e (market-based), and Scope 3 emissions of about 55,986,848,000 kg CO2e. This reflects a commitment to reducing greenhouse gas emissions across its operations. In 2022, the bank's emissions were approximately 54,970,557,000 kg CO2e, with Scope 1 emissions at about 14,697,000 kg CO2e and Scope 2 emissions at approximately 85,384,000 kg CO2e. The previous year, 2021, saw total emissions of around 50,858,127,000 kg CO2e, with Scope 1 emissions of about 15,175,500 kg CO2e and Scope 2 emissions of approximately 86,013,000 kg CO2e. Shinhan Bank has set near-term targets aligned with the 1.5°C climate goal, aiming to cover 20% of its investment and lending activities by 2030. These targets are designed to address emissions from company operations (Scopes 1 and 2) and are consistent with the reductions necessary to limit global warming. However, the bank has not committed to a net-zero target as of now. Overall, Shinhan Bank is actively working towards significant emissions reductions while maintaining transparency in its climate commitments and performance.
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| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Scope 1 | 15,419,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 81,392,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 30,638,100 | 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 committed to some reduction initiatives 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.
