Chairman Heo Tae-soo: "We Must Pursue Sustainable Growth Through Eco-friendliness and Digitalization"

GS Co., Ltd. Publishes First Sustainability Management Report
Summary of Environmental Impact Reduction and Eco-Friendly New Business Investments

Heo Tae-soo, Chairman of GS Group

[Asia Economy Reporter Oh Hyung-gil] Heo Tae-soo, Chairman of GS Group, emphasized that "based on a deep understanding of environmental sustainability by all employees, we must pursue sustainable growth of our society through eco-friendly and digital new technologies."

Chairman Heo made this statement as GS Corporation published its first sustainability management report outlining the group's eco-friendly management policies and achievements. He said, "GS's business is an essential foundational business for our society, while simultaneously facing global challenges such as climate change and carbon reduction."

The report contains the current status and investment achievements of eco-friendly businesses carried out by GS's major affiliates.

Examples include investments in waste plastic recycling and the launch of eco-friendly lubricants, the introduction of Korea's first carbon-neutral crude oil (GS Caltex), securing 200,000 tons annually of blue ammonia and participation in a joint project for small modular reactors (GS Energy), resource circulation of fast food food waste (GS Retail), modular construction methods (GS Engineering & Construction), and research on fuel conversion and co-firing technology for power generation (GS E&R, GS EPS).

In particular, investment cases in new technology venture companies to overcome the climate crisis are introduced, such as Rico, a food waste treatment solution provider; Resilient Power, a high-efficiency electric vehicle charging technology company; Relictrify, a waste battery solution company; and Recarbon, which produces hydrogen by decomposing greenhouse gases using plasma technology.

Additionally, the report discloses greenhouse gas emissions, waste, and air and water pollutant discharge amounts from four power generation subsidiaries: GS E&R, GS EPS, GS Power, and Incheon Integrated Energy.

Until now, major affiliates such as GS Caltex have disclosed pollutant emissions through sustainability management reports, but by including power generation subsidiaries' information in the group-level sustainability management report, the group plans to expand the number and scope of companies subject to disclosure in the future.

A GS official said, "This year, we formed an ESG council composed of ESG (environment, social, governance) executives from major affiliates to support the implementation of eco-friendly strategies across the group," adding, "By publicly disclosing the group's comprehensive eco-friendly management policies and commitment through the sustainability management report, eco-friendly management will accelerate further."

GS Corporation announced on the 22nd that it has published its first Sustainability Management Report, detailing the group's eco-friendly management policies and achievements.