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2024 Korea Scorecard

The 2024 Korea Scorecard is the second edition following the inaugural 2022 publication assessing fossil fuel restriction policies in the Korean insurance sector. The report provides a systematic evaluation of insurers’ underwriting and investment restriction policies on fossil fuel projects, while also assessing their exposure to climate-related risks and outlining pathways for improvement. The scoring methodology is based on the Insure Our Future Campaign’s Global Scorecard, adapted to reflect the specific characteristics of the Korean insurance market. Policy assessments are disaggregated by fuel type (coal, oil, and gas), and insurers are evaluated based on their policies and the level of implementation. Scores and rankings are then assigned to highlight the relative performance of domestic insurers.

The purpose of the Scorecard report is to bring attention to the responsibilities of the insurance sector in addressing the climate crisis.

[Table of Contents]

2024 Korea Scorecard

05  Executive Summary

07  Scorecard Methodology

10  2024 Insurers’ Underwriting and Investment Policy Scores · Rankings

13  Global Scorecard

16  Policy Directions for Strengthening Insurers’ Climate Risk Response 

Fossil Fuel and Renewable Energy Financing by Domestic Insurers

18  Status of Fossil Fuel Financing by Domestic Insurers

20  Status of Renewable Energy Financing by Domestic Insurers

Appendix

25  Domestic Insurers’ Net-Zero Target Commitments Status

27  Domestic Insurers’ Fossil Fuel and Renewable Energy Investment · Insurance Status