- Rising demand for reinsurance to secure fiscal solvency
- Entering overseas markets to secure stable revenue
- Stagnation in growth due to domestic economic slowdown and entry of foreign reinsurers into the domestic market
- Increase in expected losses from reinsurance and reduced accuracy in insurance liability evaluations due to extreme weather
- Revenue decline due to restrictions on existing underwriting and investment operations
- Loss of life and property due to accidents
- Legal sanctions due to violations of relevant regulations
- Economic losses due to internal misconduct
- Legal procedures and labor disputes due to human rights violations
Korean Reinsurance Company
Greenhouse gas emissions & sustainability report data
In its 2023 reporting, Korean Reinsurance Company disclosed greenhouse gas emissions of 997 tCO2eq/year. By scope: Scope 1: 292.4 tCO2eq/year; Scope 2: 705.2 tCO2eq/year; Scope 3: 831.9K tCO2eq/year. Figures are as stated in the company's own report and may use different boundaries, units or methods (for example market-based vs location-based Scope 2), so compare with care.
GHG Emissions
997 tCO2eq/year
2023
Water Usage
10.0K tons/year
2023
Waste
57.1 tons/year
2023
Energy Use
20.1K GJ/year
2023
📊 Emissions by Scope (2023)
| Scope | What it covers | Reported value |
|---|---|---|
| Scope 1 | Direct emissions from sources the company owns or controls (fuel combustion, company vehicles, process and fugitive emissions). | 292.4 tCO2eq/year |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 705.2 tCO2eq/year |
| Scope 3 | Other indirect emissions across the value chain (purchased goods, business travel, use of sold products, etc.). | 831.9K tCO2eq/year |
New to scopes? Read Scope 1, 2 and 3 emissions explained and market-based vs location-based Scope 2.
✅ Reported Environmental Achievements
- 8% reduction in energy consumption from 2022 to 2023 (exceeding the 3% target)
- 7.5% reduction in greenhouse gas emissions from 2022 to 2023 (exceeding the 3% target)
- 40.4% waste recycling rate in 2023 (increased from 31.2% in 2022)
- 83.3% reduction in copy paper use from 2015 to 2023 due to paperless office initiative
🎯 Climate & Sustainability Targets
🔜 Short-term
- Reduce greenhouse gas emissions by 3% annually until 2027
- Increase ESG investments by 300% compared to 2023
📅 Medium-term
- Expand the proportion of ESG investments to 6.5% of total general insurance assets by 2050
- Reduce the proportion of coal-related portfolios by more than 94% by 2050 compared to 2023
- Increase green investments for environmental improvement and greater social benefits by 2050
🔭 Long-term
- Achieve net-zero carbon emissions by 2050
🌱 ESG Focus Areas
Climate risk managementImplementing decarbonization policiesWork-life balance and a sustainable societyStrengthening social contribution activitiesSound corporate governanceStrengthening compliance and ethical managementEstablishing and implementing a sound human rights management systemEstablishing and implementing a sound environmental management system