KakaoBank
KakaoBank, officially known as Kakao Bank Corp., is a leading digital bank headquartered in South Korea (KR). Founded in 2016, it has rapidly established itself as a key player in the financial technology sector, primarily serving the South Korean market. The bank's innovative approach to banking includes a range of core services such as online savings accounts, personal loans, and mobile payment solutions, all designed to enhance user convenience and accessibility. KakaoBank distinguishes itself with its seamless digital experience, leveraging advanced technology to provide efficient banking services. Since its inception, the bank has achieved significant milestones, including a successful IPO in 2021, solidifying its position as a market leader in the digital banking industry. With a strong focus on customer-centric solutions, KakaoBank continues to redefine the banking landscape in South Korea and beyond.
DitchCarbon Score
How does KakaoBank'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
KakaoBank's score of 35 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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KakaoBank's reported carbon emissions
In 2023, KakaoBank reported total carbon emissions of approximately 4,934,800 kg CO2e, comprising 48,700 kg CO2e from Scope 1, 4,886,100 kg CO2e from Scope 2, and 881,100 kg CO2e from Scope 3 emissions. Notably, the Scope 3 emissions included 209,100 kg CO2e from business travel and 300 kg CO2e from purchased goods and services. Comparatively, in 2022, the bank's total emissions were about 3,913,000 kg CO2e, with Scope 1 emissions at 45,700 kg CO2e and Scope 2 emissions at 3,867,300 kg CO2e. The Scope 3 emissions for that year were significantly lower at 355,600 kg CO2e. KakaoBank has not disclosed specific reduction targets or initiatives as part of its climate commitments. However, the bank's emissions data indicates a growing awareness of its carbon footprint, particularly in Scope 2 emissions, which are primarily associated with energy consumption. The absence of formal reduction targets suggests that while KakaoBank is tracking its emissions, it may still be in the early stages of developing a comprehensive climate strategy.
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| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | - | - | - | 00,000 | 00,000 |
| Scope 2 | 1,525,220 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 3 | - | - | - | 000,000 | 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.
KakaoBank is not participating in any 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.
