Shinsegae Sustainability Profile
Shinsegae, officially known as Shinsegae Co., Ltd., is a leading South Korean retail giant headquartered in Seoul, South Korea (KR). Founded in 1930, the company has established itself as a pioneer in the department store industry, with a significant presence across major urban regions in South Korea. Shinsegae operates primarily in the retail sector, offering a diverse range of products including fashion, cosmetics, electronics, and gourmet food. Its unique blend of luxury and accessibility sets it apart from competitors, making it a preferred shopping destination for consumers. Notably, Shinsegae is recognised for its innovative approach to retail, including the introduction of the first department store in Korea. With a strong market position, it continues to achieve remarkable milestones, solidifying its reputation as a leader in the retail landscape.
DitchCarbon Score
How does Shinsegae'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 Business Services 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
Shinsegae's score of 31 is higher than 56% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Shinsegae's reported carbon emissions
In 2024, Shinsegae's total carbon emissions amounted to approximately 591.4 million kg CO2e. This figure includes 8,726,300 kg CO2e from Scope 1 (direct emissions), 26,474,400 kg CO2e from Scope 2 (indirect emissions from energy use), and a significant 556,215,900 kg CO2e from Scope 3 emissions, which encompass the majority of their carbon footprint. In 2023, Shinsegae reported total emissions of approximately 3.6 billion kg CO2e, with Scope 1 emissions at 9,287,400 kg CO2e, Scope 2 emissions at 27,203,300 kg CO2e, and Scope 3 emissions reaching approximately 3.57 billion kg CO2e. This indicates a substantial reliance on Scope 3 emissions, which typically include supply chain and product use impacts. Despite the extensive emissions data, Shinsegae has not set specific reduction targets or initiatives as part of their climate commitments. The company does not currently participate in the Science Based Targets initiative (SBTi) or have documented reduction targets. Their emissions data is sourced directly from Shinsegae Inc. and is not cascaded from any parent organization. Overall, Shinsegae's emissions profile highlights the need for enhanced climate strategies, particularly in managing Scope 3 emissions, which represent the largest portion of their carbon footprint.
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| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 17,278,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 120,150,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 3 | - | - | - | 000,000 | 000,000 |
How Carbon Intensive is Shinsegae's Industry?
How Carbon Intensive is Shinsegae's Location?
Shinsegae's Scope 3 Categories Breakdown
Shinsegae's Scope 3 emissions, which increased by 127% last year and increased by approximately 127% since 2022, demonstrating supply chain emissions tracking. Their carbon footprint includes suppliers and value chain emissions, with Scope 3 emissions accounting for 1% of total emissions under the GHG Protocol, with "Business Travel" being the largest emissions source at 99% of Scope 3 emissions.
Top Scope 3 Categories
Shinsegae's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Shinsegae has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
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