In 2024, Woori Financial Group completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Woori Financial Group has also provided a category-level breakdown for 7 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 12,689.5a | 12,695a | 12,760a | |
Total Scope 2 | ||||
Market-Based | 54,164.45a | 66,904a | 65,579a | |
Location-Based | 64,263.38a | 66,904a | 65,579a | |
Total Scope 3 | 56,984,035a | 51,064,308.2a | 46,273,898.2a | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 1.4751a | 1.3747a | 1.4071a |
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In 2024, the total operational greenhouse gas (GHG) emissions of Woori Financial Group amounted to 76,952.88 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of Woori Financial Group decreased by 3.32%, showing that the company has made progress in taking action to reduce the climate impact of its operations.a
In 2024, the total Scope 1 emissions of Woori Financial Group were 12,689.5 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, Woori Financial Group's Scope 1 emissions have remained relatively, stable, indicating that Woori Financial Group's emissions have plateaued with no significant change in its operational footprint.ab
Compared to the previous year (2023), Woori Financial Group's Scope 1 emissions remained relatively stable, indicating that Woori Financial Group's emissions have plateaued with no significant change in its operational footprint.a
In 2024, Woori Financial Group reported Scope 2 greenhouse gas (GHG) emissions of 54,164.45 tCO₂e using the market-based method and 64,263.38 tCO₂e using the location-based method.a
Since 2019, Woori Financial Group's Scope 2 greenhouse gas (GHG) emissions (Location-Based) have remained relatively stable, indicating that Woori Financial Group's emissions have plateaued with no significant change in its energy consumption footprint.ab
Compared to the previous year (2023), Woori Financial Group's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that Woori Financial Group's emissions have plateaued with no significant change in its energy consumption footprint.a
In 2024, Woori Financial Group reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, Woori Financial Group reported 56,984,035 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2024 disclosure of Woori Financial Group includes a breakdown across 7 of the 15 Scope 3 categories defined by the GHG Protocol, matching the level of disclosure in 2023, demonstrating consistent Scope 3 emissions reporting coverage year over year.a
In 2024, Woori Financial Group reported total Scope 3 emissions of 56,984,035 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 0.01% of these emissions originated from upstream activities such as purchased goods and capital goods, while 99.99% came from downstream activities like product use, distribution, and end-of-life treatment.a
Compared to the previous year (2023), Woori Financial Group's Scope 3 emissions increased by 11.59%, suggesting that the company faced challenges in reducing emissions across its value chain.a
In 2024, Woori Financial Group reported emissions for 7 out of the 15 Scope 3 categories defined by the GHG Protocol.a
This partial disclosure allows for some insight into the company's indirect impacts.
In 2024, the largest contributors to Woori Financial Group's Scope 3 emissions were:a
In 2024, Woori Financial Group reported Scope 1 greenhouse gas (GHG) emissions of 12,689.5 tCO₂e and total revenues of USD 8,602 millions. This translates into an emissions intensity of 1.48 tCO₂e per millions USD.a
In 2024, Woori Financial Group reported a Scope 1 emissions intensity of 1.48 tCO₂e per millions USD. Compared to the peer group median of 0.85, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, Woori Financial Group ranked 19 out of 25 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
Woori Financial Group is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
In 2024, Woori Financial Group reported a total carbon footprint of 57,060,987.88 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 11.57% increase compared to 2023, suggesting a rise in emissions across its operations or value chain.a
The largest contributor to Woori Financial Group's total carbon footprint was Scope 3 emissions, accounting for 99.87% of the company's total carbon footprint, followed by Scope 2 emissions at 0.11%.a