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 51 is higher than 95% 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 56,000,000,000 kg CO2e, with emissions distributed across various scopes: 14,967,000 kg CO2e (Scope 1), 82,831,500 kg CO2e (Scope 2), and a significant 55,986,848,000 kg CO2e (Scope 3). The bank has set ambitious climate commitments, aiming for net-zero emissions by 2050. This includes a target to reduce internal carbon emissions by 5% annually, utilising scientific methodologies aligned with the Paris Agreement's 1.5°C scenario, as outlined by the Science-based Target Initiative (SBTi). In 2022, Shinhan Bank's emissions were slightly lower, totalling about 54,970,557,000 kg CO2e, with Scope 1 emissions at 14,697,000 kg CO2e and Scope 2 at 85,382,700 kg CO2e. The bank's ongoing initiatives include providing transition finance to carbon-intensive sectors, such as power generation and steel, to facilitate a shift towards low-carbon economies, targeting a 9.6% reduction in financed emissions by 2025. Shinhan Bank's commitment to sustainability is evident in its comprehensive approach to managing and reducing carbon emissions across all scopes, reinforcing its role in the global effort to combat climate change.
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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 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.
