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A Sustainable BOK
The Bank of Korea aims to reduce its carbon footprint.
To contribute to achieving the national greenhouse gas reduction targets (NDCs), the Bank of Korea is gradually reducing its greenhouse gas emissions. Furthermore, it plans to establish a system to measure and manage indirectly generated greenhouse gas emissions (Scope 3) across the entire value chain involved in its operations. By proactively reducing emissions where possible, the Bank aims to create a sustainable work environment. Additionally, to enhance accountability and transparency in responding to climate change, the Bank intends to strategically increase the publication of climate-related reports and is considering the publication of a report detailing its climate response activities in the long-term.
Efforts to Reduce Greenhouse Gas Emissions
In April 2022, the Bank of Korea was designated by the Ministry of Environment as a target institution for the public sector greenhouse gas target management scheme. The Bank then measured its Scope 1 and 2 emissions from all buildings and vehicles. It aims to cut these emissions by 37% by 2030 compared to 2018 levels. To achieve this, the Bank is conserving energy through lighting control and temperature management, and is switching to zero-emission vehicles and expanding renewable energy use.
Further Efforts for a Sustainable Future
The Bank of Korea is taking additional steps to cut its indirect greenhouse gas emissions (Scope 3) from its operational value chain. Measures include: - Implementation of Weekly Car-free Day - Promoting Reusable items - Going Paperless In the long term, the Bank is developing a system to measure and manage greenhouse gas emissions throughout its entire value chain.
Enhancing Accountability and Transparency
To enhance accountability and transparency in its climate response and support the transition to a carbon-neutral economy, the Bank of Korea plans to increase the publication of climate-related reports. It is also considering a comprehensive report on its climate response activities, including its vision, strategy, current status, and long-term plans.