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 finance, and wealth management. With a strong presence in both domestic and international markets, Shinhan Bank operates extensively across Asia and has expanded its footprint globally. The bank is renowned for its innovative financial products, such as digital banking solutions and tailored investment services, which cater to the diverse needs of its clientele. As a key member of the Shinhan Financial Group, Shinhan Bank has achieved significant milestones, including recognition for its customer service excellence and sustainable banking practices. Its commitment to technological advancement and customer satisfaction solidifies its position as a trusted leader in the financial sector.
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 37 is higher than 87% 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 14967000 kg CO2e for Scope 1 and about 82831500 kg CO2e for Scope 2, with Scope 3 emissions reaching approximately 55986848000 kg CO2e. This indicates a continued commitment to transparency in their emissions reporting across all three scopes. Over the years, Shinhan Bank has shown fluctuations in its emissions. For instance, in 2022, the bank's Scope 1 emissions were about 14697000 kg CO2e, while Scope 2 emissions were approximately 85382700 kg CO2e, and Scope 3 emissions totalled around 54970557000 kg CO2e. In 2021, the figures were similar, with Scope 1 emissions at about 15175500 kg CO2e and Scope 2 at approximately 86012900 kg CO2e. Despite these emissions figures, there are currently no specific reduction targets or initiatives disclosed by Shinhan Bank, indicating a potential area for improvement in their climate commitments. The bank's emissions intensity, measured in financial terms, has been reported, but no formal climate pledges or science-based targets have been established. Overall, while Shinhan Bank is actively disclosing its emissions data, the absence of defined reduction targets suggests a need for enhanced climate action strategies to align with global sustainability goals.
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| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 11,615,500 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 64,666,600 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | - | 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 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.
