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 47 is higher than 96% 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 69,967,600 kg CO2e, comprising 14,967,000 kg CO2e from Scope 1 and about 54,790,000 kg CO2e from Scope 2 emissions. The bank's Scope 3 emissions were significant, totalling approximately 55,986,848,000 kg CO2e, with major contributions from investments and employee commuting. Over the past few years, Shinhan Bank has demonstrated a commitment to reducing its carbon footprint. In 2022, the bank's total emissions were about 100,080,000 kg CO2e, indicating a slight decrease in Scope 1 and 2 emissions from previous years. The 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 ensure that emissions from its operations (Scopes 1 and 2) are consistent with the necessary reductions to limit global warming. Shinhan Bank's ongoing efforts reflect its recognition of the importance of sustainable practices within the financial sector, although it has not yet committed to a net-zero target. The bank continues to monitor and report its emissions, striving for transparency and accountability in its climate commitments.
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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.
