Potential offtaker

Shinhan Financial Group

www.shinhangroup.com

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Which other companies from South Korea are actively involved in decarbonization initiatives?
  • Korea Agro-Fisheries & Food Trade Corporation
  • Hankook Tire & Technology Co., Ltd.
  • NAVER Corporation
  • Amorepacific
  • HYUNDAI MOBIS Co.,Ltd.
  • SK ie Technology
  • Shinhan Financial Group is a leading financial institution in South Korea that operates in the banking sector. The company is committed to promoting sustainable development and has taken significant steps towards decarbonisation and the adoption of renewable energy. In this article, we will explore Shinhan Financial Group's efforts towards decarbonisation and the adoption of renewable energy, including its corporate energy and corporate power purchase agreement (PPA) initiatives.

    Decarbonisation

    Shinhan Financial Group is committed to reducing its carbon footprint and promoting sustainable development. The company has set a target of reducing its greenhouse gas emissions by 30% by 2025, compared to its 2017 levels. To achieve this target, the company has implemented various measures, including the adoption of renewable energy and the implementation of energy-efficient technologies.

    One of the key initiatives undertaken by Shinhan Financial Group towards decarbonisation is the installation of solar panels on the rooftops of its buildings. The company has installed solar panels on the rooftops of its headquarters building, which has a capacity of 1.5 MW. The company has also installed solar panels on the rooftops of its branches, which have a combined capacity of 3.5 MW. These solar panels generate clean energy and reduce the company's reliance on fossil fuels.

    In addition to the installation of solar panels, Shinhan Financial Group has also implemented energy-efficient technologies in its buildings. The company has installed LED lighting, which is more energy-efficient than traditional lighting. The company has also implemented a building management system that monitors and controls the energy consumption of its buildings. These measures have helped the company to reduce its energy consumption and carbon footprint.

    Corporate Energy

    Shinhan Financial Group has also initiated a corporate energy program to promote the adoption of renewable energy among its clients. The program aims to provide financing and consulting services to companies that are interested in adopting renewable energy. The program also aims to promote the development of renewable energy projects in South Korea.

    Under the corporate energy program, Shinhan Financial Group provides financing for renewable energy projects, including solar, wind, and hydro power projects. The company also provides consulting services to companies that are interested in adopting renewable energy. The consulting services include feasibility studies, project planning, and financing advice.

    The corporate energy program has been successful in promoting the adoption of renewable energy among Shinhan Financial Group's clients. The company has financed several renewable energy projects, including solar power projects and wind power projects. The program has also helped to promote the development of renewable energy projects in South Korea.

    Corporate PPA

    Shinhan Financial Group has also initiated a corporate power purchase agreement (PPA) program to promote the adoption of renewable energy among its clients. The program aims to provide long-term contracts for the purchase of renewable energy to companies that are interested in adopting renewable energy.

    Under the corporate PPA program, Shinhan Financial Group enters into long-term contracts with renewable energy developers for the purchase of renewable energy. The company then sells the renewable energy to its clients at a fixed price. The program provides a stable and predictable source of revenue for renewable energy developers, which helps to promote the development of renewable energy projects.

    The corporate PPA program has been successful in promoting the adoption of renewable energy among Shinhan Financial Group's clients. The company has entered into several long-term contracts for the purchase of renewable energy, including solar power and wind power projects. The program has also helped to promote the development of renewable energy projects in South Korea.

    Renewable Energy

    Shinhan Financial Group is committed to promoting the adoption of renewable energy and has taken significant steps towards this goal. The company has installed solar panels on the rooftops of its buildings, implemented energy-efficient technologies, and initiated a corporate energy program and a corporate PPA program. These initiatives have helped to promote the adoption of renewable energy among Shinhan Financial Group's clients and in South Korea.

    In addition to these initiatives, Shinhan Financial Group has also invested in renewable energy projects. The company has invested in several renewable energy projects, including solar power projects and wind power projects. These investments have helped to promote the development of renewable energy projects in South Korea and have contributed to the country's renewable energy goals.

    Conclusion

    Shinhan Financial Group is a leading financial institution in South Korea that is committed to promoting sustainable development. The company has taken significant steps towards decarbonisation and the adoption of renewable energy, including the installation of solar panels, the implementation of energy-efficient technologies, and the initiation of a corporate energy program and a corporate PPA program. These initiatives have helped to promote the adoption of renewable energy among Shinhan Financial Group's clients and in South Korea. The company's investments in renewable energy projects have also contributed to the development of renewable energy in the country. Shinhan Financial Group's commitment to sustainable development is an example for other financial institutions to follow.

    ✓ Science Based Targets member