Shinhan Asset Management
Shinhan Asset Management is an asset management company headquartered in Seoul, South Korea. It is a subsidiary of the Shinhan Financial Group and joined the Net Zero Asset Managers Initiative in July 2021 and made its Initial Target Disclosure in November 2022.
Percentage of assets covered by the Net Zero Asset Managers Commitment Statement
43% of total AUM (USD $19.7 billion)
Information on interim target(s) covering the proportion of assets to be managed in line with net zero
17.37 tCO2e / 100 million KRW (4,091,271 tCO2e)
11.83 tCO2e / 100 million KRW (2,786,703 tCO2e)
GHG scopes included:
We use Scope 1 and 2 in our carbon targets, as well as Scope 3 in case it is material and available.
Science Based Target initiative for Financial Institutions
SBTi Sectoral Decarbonization Approach Beyond 2 Degree Scenario
Proportion of AUM committed:
Our initial commitment only includes asset classes where there are well established methodologies with data access from third party data providers. We aim to increase the percentage over time to other asset classes when data availability and quality are improved. We will also actively engage with asset owners on integrating net zero targets in their investment mandates.
Policy on coal and other fossil fuel investments:
We do not have a firm–wide exclusion policy on coal and other fossil fuel investments. Engagement with high–emission industries is at the core of our net zero commitment. Divestment will be considered as a last resort to meet the target.