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 37 is higher than 61% 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 2023, Shinsegae reported total carbon emissions of approximately 1,003,872,000 kg CO2e, comprising 274,044,000 kg CO2e from Scope 1 and 727,828,000 kg CO2e from Scope 2 emissions. Additionally, Scope 3 emissions included about 671,000 kg CO2e from business travel and 4,000 kg CO2e from waste generated in operations. The total emissions from Scope 1 and 2 combined were approximately 1,047,872,000 kg CO2e. Shinsegae has set ambitious climate commitments, aiming to reduce its Scope 1 and 2 emissions by 30,000 tonnes (or 42%) by 2030, with a further reduction of 81,000 tonnes targeted to achieve net-zero emissions by 2040. These targets reflect a long-term commitment to sustainability and align with the Science Based Targets initiative (SBTi) framework. The company has consistently disclosed its emissions data across all relevant scopes, demonstrating transparency in its climate impact reporting. The emissions data is not cascaded from any parent organization, ensuring that the figures are specific to Shinsegae's operations.
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| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 17,278,000 | 00,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| 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 supplier sustainability and value chain emissions data across Scope 3 categories, 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.
