Hanwha Group Leads Efforts in Climate Change Response and Carbon Neutrality

[Asia Economy Reporter Hwang Yoon-joo] Hanwha Group is taking the lead in responding to climate change and achieving carbon neutrality through its representative eco-friendly social contribution program, the 'Hanwha Forest of the Sun' campaign.

Hanwha Group announced on the 21st that it held a commemorative event to complete the creation of the 'Hanwha Forest of the Sun No. 8' at the Samcheok Carbon Neutral Forest site in Gangwon Province. The Samcheok Carbon Neutral Forest site is one of the national forests being developed under the '2050 Carbon Neutral Forest Sector Promotion Strategy' project, announced by the Korea Forest Service, which aims to plant 3 billion trees over 30 years to reduce 34 million tons of carbon.

Since March, Hanwha has completed the creation of the 8th Forest of the Sun by planting 15,000 acacia trees (a species from which honeybees collect nectar) grown with solar energy at a solar-powered nursery on approximately 50,000 hectares in Jujiri, Nogok-myeon, Samcheok City. These trees can absorb 162 tons of carbon dioxide and 330 tons of fine dust annually.

Acacia trees (based on 30 years of growth) absorb about 14% more carbon dioxide annually compared to oak species, which are known to absorb a large amount of greenhouse gases among forest species.

In particular, the 8th Forest of the Sun campaign used the dedicated Forest of the Sun app, launched in June last year to promote contactless campaign activities using digital spaces amid the prolonged COVID-19 pandemic, to encourage interest and participation in the 'Hanwha Forest of the Sun' campaign. The 15,000 virtual trees grown and donated by participants (Forest Heroes) in the virtual space through the app were used in the actual forest creation, giving it even more special meaning.

Lee Tae-gil, Vice Chairman of the Hanwha Communication Committee, said, "'Hanwha Forest of the Sun' is a campaign representing Hanwha Group's pursuit of environmental sustainability, contributing to raising awareness and building consensus on climate change and environmental issues. It is especially meaningful that the 8th Forest of the Sun can serve as a stepping stone for effectively responding to the climate crisis and achieving the '2050 Carbon Neutral Forest Sector Promotion Strategy.'"