Industrial Bank Of Korea
Industrial Bank of Korea (IBK), headquartered in South Korea, is a prominent financial institution established in 1961. With a strong focus on supporting small and medium-sized enterprises (SMEs), IBK has carved a niche in the banking industry, providing tailored financial solutions that foster business growth. The bank operates extensively across South Korea and has expanded its reach to key international markets, enhancing its global presence. IBK's core offerings include commercial banking services, corporate financing, and investment banking, distinguished by their commitment to customer-centric service and innovative financial products. Recognised for its robust market position, IBK has achieved significant milestones, including being one of the largest banks in South Korea by assets. Its dedication to supporting the SME sector has earned it a reputation as a vital player in the nation's economic development.
DitchCarbon Score
How does Industrial Bank Of Korea'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 Services Auxiliary to 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
Industrial Bank Of Korea's score of 55 is higher than 77% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industrial Bank Of Korea's reported carbon emissions
In 2023, the Industrial Bank of Korea (IBK) reported total carbon emissions of approximately 62,420,000 kg CO2e for Scope 1 and 48,991,000 kg CO2e for Scope 2, with an additional 16,720,080 kg CO2e attributed to Scope 3 emissions. The breakdown of Scope 3 emissions includes 2,46240 kg CO2e from capital goods, 3,485,340 kg CO2e from business travel, 11,774,250 kg CO2e from employee commuting, and 1,214,250 kg CO2e from purchased goods and services. The total emissions for Scope 1 and 2 combined were approximately 54,923,000 kg CO2e. IBK has set ambitious climate commitments, aiming for carbon neutrality for its own emissions (Scope 1 and 2) and financial assets by 2050. This long-term target was established in 2023 and reflects the bank's commitment to reducing its carbon footprint. Additionally, IBK has set near-term targets aligned with a 1.5°C pathway, covering 38% of its total investment and lending portfolio as of 2021. The bank's emissions data is not cascaded from any parent organization, indicating that these figures are independently reported. IBK's proactive approach to sustainability and climate action positions it as a responsible financial institution in South Korea, contributing to global efforts to mitigate climate change.
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| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Scope 1 | 9,532,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 50,333,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 10,039,430 | 00,000,000 | 00,000,000 | 00,000,000 |
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.
Industrial Bank Of Korea 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.
