Climate Change Data

KakaoBank Corp.

Climate Impact & Sustainability Data (2021)

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:2956.50 tCO2e/year
Scope 1 Emissions:N/A
Scope 2 Emissions:2956.50 tCO2e/year
Total Energy Consumption:61,781,386 MJ/year
Water Consumption:1665 m3/year
Carbon Intensity:0.0028 tCO2eq/KRW 1 million (2021)

ESG Focus Areas

  • Extending Access
  • Protecting the Environment
  • Expanding Social Responsibilities
  • Increasing Transparency

Environmental Achievements

  • Reduced carbon emissions from 1,256 tCO2eq to 179 tCO2eq through server virtualization (equivalent to planting 100,000 trees annually)
  • Implemented paperless services, reducing paper consumption
  • Launched the Cardless Project to reduce plastic card issuance

Social Achievements

  • Launched KakaoBank mini, attracting over 1 million customers in one year
  • Provided KRW 272.8 billion in customer benefits (ATM fee exemptions, waived prepayment penalties)
  • Launched Dormant Account and Insurance Benefits Finder service, returning KRW 20.5 billion to customers

Governance Achievements

  • Established an ESG Committee under the Board of Directors
  • Established an ESG Team reporting directly to the CEO
  • Implemented provisions to restrict the sale of directors' stocks

Climate Goals & Targets

Long-term Goals:
  • Establishing environmental impact assessment systems; Environmental accounting and internal carbon pricing to manage environmental costs; Scope 3 greenhouse gases management; Increasing use of new and renewable energy; Establishing foundations for green bonds issuance
Medium-term Goals:
  • Establishing environmental management organizations and systems; Management systems for environmental risks including climate change; Scope 1 and 2 greenhouse gases management
Short-term Goals:
  • Establishing company-wide environmental management policies; Establishing green procurement guidelines

Environmental Challenges

  • Growing environmental footprint due to increasing data volume
  • Rising threats against convenient mobile finance (voice phishing, fraud)
  • Maintaining stable service operations while expanding as a platform
Mitigation Strategies
  • Implemented Green IT policy with server virtualization
  • Established a Financial Technology Lab for R&D in new electronic financial transaction technologies
  • Implemented voice phishing prevention system and fraud prevention model in C2C transactions

Supply Chain Management

Responsible Procurement
  • Green procurement practices required of contractors

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards (Core Option)

Certifications: OpenChain project compliance certification (ISO/IEC 5230:2020)

Third-party Assurance: Korean Standards Association (KSA)

Sustainable Products & Innovation

  • KakaoBank mini

Awards & Recognition

  • eDaily Special Award, Korean Consumer Awards (2021, 2022)
  • Newsis National Assembly Environment and Labor Committee Award (2022)
  • AsiaMoney Named Asiass best bank (2021)
  • Citation for Merit in Job Creation (2020)
  • Financial Services Commission Chairman’s Citation (2020)
  • Best Korean Job Creator (2019)