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 45 is higher than 93% 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 7,285,700 kg CO2e, comprising 10,955,000 kg CO2e from Scope 1, 61,902,000 kg CO2e from Scope 2, and 4,591,900 kg CO2e from Scope 3 emissions. This reflects a commitment to reducing its carbon footprint across all scopes, with specific initiatives aimed at transitioning to electric vehicles for its business operations. Woori Bank has set ambitious climate targets, committing to net-zero emissions by 2050. The bank's near-term goals include replacing 30% of its business purpose vehicles with electric cars by 2025, which will contribute to reductions in both Scope 1 and Scope 2 emissions. Furthermore, the bank's portfolio targets aim to cover 33% of its total investment and lending by total assets, aligning with the Science Based Targets initiative (SBTi) to ensure that its operations are consistent with limiting global warming to 1.5°C. Historically, Woori Bank's emissions have shown a trend of reduction, with total emissions decreasing from 88,470,000 kg CO2e in 2016 to 72,857,000 kg CO2e in 2023. This demonstrates the bank's ongoing efforts to enhance sustainability and reduce its environmental impact.
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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.
