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 55 is higher than 97% 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, 54,790,000 kg CO2e from Scope 2 (market-based), and a significant 55,986,848,000 kg CO2e from Scope 3 emissions. This reflects a comprehensive approach to emissions reporting, including both direct and indirect emissions across its operations. The bank has set ambitious reduction targets, aiming for a 42% reduction in Scope 1 and Scope 2 emissions by 2030, with a long-term goal of achieving an 84% reduction by 2040. These targets are part of a broader strategy to enhance participation in eco-friendly projects and technologies, including the procurement of renewable energy certificates (RECs) and green premium electricity. In previous years, Shinhan Bank's emissions were also substantial, with 2022 emissions recorded at about 100,080,000 kg CO2e (Scope 1 and 2 combined) and 54,970,557,000 kg CO2e from Scope 3. The bank's commitment to reducing its carbon footprint aligns with industry standards for climate action, reflecting a proactive stance in addressing climate change impacts. Shinhan Bank's initiatives are consistent with the Science Based Targets initiative (SBTi), which supports its near-term targets aimed at limiting global warming to 1.5°C. The bank's portfolio targets cover 20% of its investment and lending activities, demonstrating a commitment to sustainable finance practices.
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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 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.
