SC First Bank to Fully Replace Business Vehicles with Hybrids

Annual Reduction of 98 Tons in Carbon Emissions

On September 11, SC First Bank announced that it has decided to fully replace approximately 200 business vehicles currently in use at its branches and headquarters with low-emission hybrid engine vehicles. This initiative is part of the bank's efforts to practice Environmental, Social, and Governance (ESG) management and contribute to achieving carbon neutrality (Net-zero) by reducing carbon emissions. Hybrid engine vehicles operate both an internal combustion engine and an electric motor, offering better fuel efficiency and lower carbon emissions compared to conventional internal combustion engine vehicles.

SC First Bank will begin the phased replacement this month and aims to complete the transition to hybrid vehicles by November. The newly introduced hybrid vehicles are expected to reduce annual carbon emissions by approximately 98.24 tons (about 30%) compared to the existing gasoline vehicles. In terms of carbon reduction, this is equivalent to planting over 14,800 30-year-old Korean pine trees (or about 4,400 mature trees based on international standards).

Kim Yoonkyung, Executive Director of the SCM (Procurement) Department at SC First Bank, stated, "We expect that this vehicle replacement will not only help conserve resources and reduce carbon emissions, but also improve management efficiency."

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