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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.

Initial Target Disclosure: 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

Additional information

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 firmwide exclusion policy on coal and other fossil fuel investments. Engagement with highemission industries is at the core of our net zero commitment. Divestment will be considered as a last resort to meet the target.