Navigation and Content
You are in  Republic of Korea
Stay on this site
or Select a different country
View Alerts that may impact DHL services View Alerts that may impact DHL services

DHL Express Korea Helps Shinhan Bank Reduce Carbon Emissions Through Sustainable Aviation Fuel

Press Release: Seoul, South Korea, August 29, 2024

From left: Yong Chun Yu, Senior Vice President of Commercial for DHL Asia Pacific, and Lee Hae Chang, Head of Foreign Exchange at Shinhan Bank.
  • Shinhan Bank has signed up for DHL’s GoGreen Plus service as it commits to combatting climate change within its own value chain
  • Shinhan Bank is the first commercial bank in Korea to take up the GoGreen Plus service

DHL Express, the world’s leading international express service provider, has partnered with Shinhan Bank in Korea, to help the bank reduce carbon emissions associated with its international shipments through the use of sustainable aviation fuel (SAF) via the DHL GoGreen Plus service.

The GoGreen Plus service empowers customers to reduce their indirect Scope 3 emissions in their value chain, including upstream and downstream transportation and distribution, through the use of SAF. Made from renewable resources, including used cooking oil and other domestic waste, SAF can provide carbon emission reductions of around 80% over its lifecycle from production to use compared with the conventional jet fuel it replaces.

Shinhan Bank has signed up for DHL’s GoGreen Plus to deliver documents internationally in a more sustainable manner. The bank is also digitizing paper documents to reduce its carbon footprint.  With this partnership, Shinhan Bank can send foreign exchange-related documents to overseas customers using DHL’s GoGreen Plus service. The bank will receive an annual report on the amount of carbon emissions reduced, as well as a certification issued by Société Générale de Surveillance that can be utilized for carbon reporting.

From left to right: Kyungmi Kwon, Head of Commercial, DHL Korea; Ji-heon Han, CEO, DHL Korea; Jun Chun Yu, Senior Vice President, Commercial, DHL Asia Pacific; Hyeonchang Lee, Head of Foreign Exchange, Shinhan Bank; Youngseok Ko, Head of Foreign Exchange, Shinhan Bank; and Ki-beom Park, Head of Foreign Exchange, Shinhan Bank.
Shinhan Financial Group, the parent company of Shinhan Bank, became the first financial group in East Asia1 to declare its sustainability strategy, the ‘Zero Carbon Drive,’ in 2020. In 2021, the bank established an ESG Planning Office—the first of its kind in the local financial sector—and implemented a carbon emissions management system to achieve net-zero emissions by 2050.
Jihun (Michael) Han, Managing Director of DHL Express Korea said, “Both DHL and Shinhan Bank share a strong commitment to carbon footprint reduction. We are pleased to partner with Shinhan Bank, which has continued to take concrete actions to expand its ESG activities. With our GoGreen Plus service, we will actively support the bank in reducing carbon emissions and remain committed to helping more companies deepen their carbon emission reduction efforts for a more sustainable future.”

More than 90,000 customers have signed up for the service in the Asia Pacific region. Launched in Korea in June last year, it is currently used by over 3,300 customers in the country.

GoGreen Plus will source up to 800 million liters of SAF from bp and Neste by 2026. Additionally, DHL and World Energy, a leading SAF producer and low-carbon solutions provider, signed a long-term agreement on purchasing up to 668 million liters of SAF by 2030 via sustainable aviation fuel certificates (SAFc). The agreement will contribute to achieving DHL’s interim goal of using at least 30% of SAF blending for all air transport by 2030.

1 2022 Shinhan Bank Climate Finance Report