Samsung Heavy, Industry's First to Officially Verify '10 Million Tons Carbon Emission Reduction'

22 Eco-Friendly Ships Delivered This Year
Reducing 10.58 Million Tons Over a 24-Year Life Cycle

Night view of Samsung Heavy Industries Geoje Shipyard. Photo by Samsung Heavy Industries

[Asia Economy Reporter Choi Seoyoon] Samsung Heavy Industries announced on the 17th that it has objectively proven the carbon emission reduction amount of its eco-friendly ships.

According to Samsung Heavy Industries, the company developed the industry's first 'Scope 3 Ship Operation Phase Carbon Reduction Methodology' and obtained reliability certification from the Korea Standards Association. The carbon reduction contribution calculated using this methodology was verified by the Korea Quality Foundation. The 'Scope 3 Ship Operation Phase Carbon Reduction Methodology' is a method to calculate how much the eco-friendly ships delivered to customers have contributed to carbon reduction.

Samsung Heavy Industries calculates the carbon reduction contribution based on the degree of improvement in the Energy Efficiency Design Index (EEDI) value of eco-friendly ships designed and built with various low-carbon technologies compared to the allowable value set by the International Maritime Organization (IMO). The EEDI is an index representing the amount of carbon dioxide emitted when a ship transports 1 ton of cargo over 1 nautical mile. Ships that do not meet the IMO EEDI allowable value are not permitted to operate.

From January to August this year, the total carbon reduction contribution over the lifecycle (average 24 years) of 22 ships delivered by Samsung Heavy Industries amounted to 10.58 million tons (tCO2-eq). This is equivalent to the total carbon emissions produced by approximately 5.95 million passenger cars driving for one year.

This signifies that Samsung Heavy Industries greatly contributes to carbon reduction in the shipping industry through LNG fuel propulsion technology and the development of hull forms and energy-saving devices that improve fuel efficiency. Samsung Heavy Industries stated, "We have not only received verification of the methodology and reduction contribution from two credible external organizations but also obtained internal certification from Samsung EHS Strategic Research Institute's 'Carbon Reduction Certification Committee,' further enhancing reliability," and plans to continuously expand its carbon emission reduction contributions.

Bae Jinhan, Vice President and Head of the Management Support Office, who serves as the chairman of Samsung Heavy Industries' ESG Committee, said, "Developing low-carbon innovative technologies is a core competitiveness and sustainable business strategy of Samsung Heavy Industries. It is significant that we provide shareholders, customers, investors, and all stakeholders with Samsung Heavy Industries' environmental management performance in more transparent and objective figures."