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, 61,902,000 kg CO2e for Scope 2, and 4,591,900 kg CO2e for Scope 3. The combined emissions for Scope 1 and 2 amounted to about 72,857,000 kg CO2e. This reflects a slight increase in emissions compared to 2022, where Scope 1 emissions were about 10,764,000 kg CO2e, Scope 2 emissions were 60,707,000 kg CO2e, and Scope 3 emissions were 3,977,500 kg CO2e. Woori Bank has committed to achieving net-zero emissions across all scopes by 2050, aligning with the Science Based Targets initiative (SBTi). Their near-term targets include a commitment to reduce emissions consistent with a 1.5°C pathway, with specific portfolio targets covering 33% of total investments and lending by total assets as of 2022. As of that year, required activities constituted 18% of their total investment and lending, while optional activities made up 24%. The bank's emissions reduction strategy is part of a broader commitment to sustainability and climate action, reflecting its role as a significant player in the financial sector 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.
