SK Chemicals to Cut Greenhouse Gas Emissions by 50% by 2030... Leading 'Net Zero' Efforts

[Asia Economy Reporter Kim Hyewon] SK Chemicals announced on the 12th that it will focus on ESG (Environmental, Social, and Governance) management with the goal of achieving carbon neutrality (Net Zero) by 2050.

SK Chemicals plans to reduce greenhouse gas emissions by 50% from current levels by 2030 and restructure its business portfolio to focus on bio and eco-friendly sectors.

Currently, the total greenhouse gas emissions, including direct emissions such as boiler operation and indirect emissions such as electricity and steam purchases, amount to approximately 500,000 tons. The company intends to reduce greenhouse gas emissions to 250,000 tons, which is 50% of the current level, by 2030 by switching fuels used in production sites to LNG, which emits less greenhouse gas, introducing low-carbon processes, and implementing eco-friendly technologies such as equipment modifications. Additionally, SK Chemicals plans to reduce greenhouse gases generated outside the workplace, such as in raw material procurement, transportation, and disposal, and aims to achieve a carbon neutrality rate of 86% by 2040 and 100% by 2050 through efforts such as joining K-RE100 and transitioning to electric vehicles.

SK Chemicals will significantly expand businesses that align with ESG values. In the green chemical sector, the portfolio will be restructured to focus on recycled plastics and bio-based materials. By 2030, the company plans to convert 100% of its plastic material products to a green portfolio. To this end, it will launch 'Ecotria CR,' which applies chemical recycling technology, in the third quarter, and in March next year, it will produce PO3G (polyoxytetramethylene ether glycol), a 100% bio-based new material made from corn.

The core copolyester business plans to increase the proportion of recycled products to 50% by 2025 and 100% by 2030. In the life sciences sector, SK Chemicals will accelerate efforts to strengthen the ecosystem for global public health by securing original technologies in the bio field and collaborating with global initiatives such as the government, medical community, Coalition for Epidemic Preparedness Innovations (CEPI), and International Vaccine Institute (IVI).

Furthermore, the company will conduct product lifecycle assessments evaluating environmental and human health hazards from raw material procurement to product use, promote zero landfill waste, and reduce workplace safety accident rates to zero through strengthening the SHE (Safety, Health, Environment) management system.

Jonghyun Park, Head of Management Support at SK Chemicals, stated, "We are making efforts to develop and apply technologies that can reduce direct greenhouse gas emissions through the introduction of high-efficiency equipment and the transition to eco-friendly fuels." He added, "The net zero plans declared this time and the annual reduction performance will be publicly disclosed through our website and sustainability reports to communicate with stakeholders."