SEOUL, July 13 (Korea Bizwire) — South Korean chemical goods manufacturer SK Chemicals Co. said Monday that it will focus on environment, social and governance (ESG) management as part of efforts to achieve net-zero carbon dioxide emissions by 2050.
The company’s first goal is to cut its greenhouse gas emissions by 50 percent by 2030, while reorganizing its business portfolio towards a focus on bio and eco-friendly business.
At present, SK Chemicals’ greenhouse gas emissions are estimated at about 500,000 tons, including direct emissions produced during boiler operations and indirect emissions generated through electricity and steam purchases.
SK Chemicals plans to switch the fuel used at its production sites to liquefied natural gas (LNG) while introducing a variety of new eco-friendly technologies, aimed at reducing its greenhouse gas emissions by 250,000 tons by 2030.
Furthermore, the company will reduce emissions of greenhouse gases generated outside of its business sites, while joining the K-RE100 and making a shift to electric vehicles, in a bid to achieve a carbon neutral ratio of 86 percent by 2040 and 100 percent by 2050.
In the green chemical area, it will pursue the reorganization of its portfolio towards placing more emphasis on recyclable plastics and bio-based materials. By 2030, it will transform 100 percent of its plastic material products into eco-friendly products.
In particular, the company will also increase the share of recyclable products in its main copolyester business to 50 percent by 2025 and 100 percent by 2030.
J. S. Shin (email@example.com)