Woori Bank
Woori Bank, officially known as Woori Financial Group, is a leading financial institution headquartered in Seoul, South Korea. Established in 1899, the bank has evolved significantly, marking key milestones such as its merger with several regional banks, which has solidified its position in the competitive banking sector. Operating primarily in South Korea, Woori Bank also has a notable presence in international markets, providing a comprehensive range of services including retail banking, corporate finance, and wealth management. Its core offerings, characterised by innovative digital banking solutions and personalised customer service, set it apart in the industry. Recognised for its robust financial performance, Woori Bank continues to be a prominent player in the Asian banking landscape, consistently achieving high customer satisfaction and maintaining a strong market position.
DitchCarbon Score
How does Woori 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
Woori Bank's score of 39 is higher than 64% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Woori Bank's reported carbon emissions
In 2023, Woori Bank reported total carbon emissions of approximately 109,550,000 kg CO2e for Scope 1 and 61,902,000 kg CO2e for Scope 2, with an additional 4,591,900 kg CO2e from Scope 3 emissions. This represents a total of about 171,043,900 kg CO2e across all scopes. The bank has demonstrated a commitment to reducing its carbon footprint, with significant reductions noted from previous years. For instance, in 2022, emissions were approximately 107,640,000 kg CO2e for Scope 1 and 60,707,000 kg CO2e for Scope 2, indicating a slight increase in emissions in 2023. Woori Bank is actively pursuing long-term climate commitments, including a net-zero target by 2050, as part of its Science Based Targets initiative (SBTi) commitments. The bank's portfolio targets cover 33% of its total investment and lending by total assets as of 2022, with required activities accounting for 18% and optional activities for 24%. These targets are aligned with the reductions necessary to limit global warming to 1.5°C. The emissions data and climate commitments are sourced from Woori Financial Group Inc., with no cascaded data from parent organizations. Woori Bank's ongoing efforts reflect its dedication to sustainability and responsible banking practices in South Korea.
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| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|
| Scope 1 | 15,488,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 73,475,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | - | - | - | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
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.
Woori 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.
