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 34 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 55,986,848,000 kg CO2e, with emissions distributed across various scopes: 14,967,000 kg CO2e (Scope 1), 82,831,500 kg CO2e (Scope 2), and 55,986,848,000 kg CO2e (Scope 3). Notably, the bank's Scope 3 emissions, which include significant contributions from business travel and employee commuting, accounted for the majority of their carbon footprint. Comparing the data from previous years, Shinhan Bank's Scope 1 emissions decreased from about 15,175,500 kg CO2e in 2021 to 14,697,000 kg CO2e in 2022, and then slightly increased to 14,967,000 kg CO2e in 2023. Scope 2 emissions also saw a decline from 86,012,900 kg CO2e in 2021 to 85,382,700 kg CO2e in 2022, followed by a further reduction to 82,831,500 kg CO2e in 2023. However, Scope 3 emissions increased from 50,858,127,000 kg CO2e in 2021 to 54,970,557,000 kg CO2e in 2022, and then to 55,986,848,000 kg CO2e in 2023. Despite these figures, Shinhan Bank has not publicly committed to specific reduction targets or initiatives under the Science Based Targets initiative (SBTi) or other climate pledges. The bank's emissions intensity, measured in financial terms, was reported at 0.02 in 2023, indicating a focus on integrating sustainability into their financial operations. Overall, while Shinhan Bank has made strides in reducing Scope 1 and 2 emissions, the increase in Scope 3 emissions highlights the need for enhanced strategies to address their broader environmental impact.
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Get Started| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | 15,175,500 | 00,000,000 | 00,000,000 |
| Scope 2 | 86,012,900 | 00,000,000 | 00,000,000 |
| Scope 3 | 50,858,127,000 | 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.
