[Asia Economy Reporter Jeong Dong-hoon] Cho Kyung-mok, President of SK Energy, emphasized "Pro-Earth" and ESG (Environment, Social, Governance) management this year, marking the 60th anniversary of the company's founding.
On the 2nd, through SK Innovation's official news channel "SKIno News," President Cho stated, "This year marks the 60th anniversary of SK Energy, which started as Korea's first oil refining company," and added, "While oil demand is expected to recover in the short term, in the long term, the 'Energy Transition' will bring limits to demand growth."
President Cho identified "bold and proactive business portfolio innovation" as this year's key theme. He then introduced SK Energy's low-carbon and decarbonization projects promoted under the company’s internal independent company (CIC) system for carbon-neutral growth.
The R&S (Refinery & Synergy) CIC, responsible for refining and trading businesses, is increasing the production of eco-friendly petroleum products using feedstocks such as pyrolysis oil from waste plastics. Meanwhile, the P&M (Platform & Marketing) CIC, in charge of platform and marketing businesses, launched Korea's first "carbon-neutral petroleum products" last year, offsetting greenhouse gases generated throughout production, transportation, and consumption processes with carbon credits.
President Cho said, "2022 is a crucial year to achieve tangible results through the strong execution of our 'Financial Story,'" expressing his determination to "create a company essential for the carbon-neutral era and, furthermore, an energy company unlike any other in the world."
The Financial Story refers to a growth narrative that, in addition to traditional financial performance such as organizational sales and operating profit, includes attractive goals and concrete execution plans that appeal to the market, thereby gaining trust and empathy from stakeholders such as customers, investors, and the market.
President Cho serves as the chairman of the "Green Parity" subcommittee under the SK Group Environmental Business Committee and leads the SK Group's "Carbon Reduction Certification Center," established last year as the first of its kind among Korean companies.
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