This Year Marks the First Year of the 'All-Time Net Zero' Journey
Emphasizing Enhancing Corporate Value Through Tangible Achievements
Kim Jun, Vice Chairman of SK Innovation, is explaining the direction of building SK Innovation's eco-friendly business portfolio at the 'SK Innovation Global Forum' held in San Jose, California, USA, in June last year. Photo by SK Innovation
[Asia Economy Reporter Jeong Dong-hoon] Kim Jun, Vice Chairman of SK Innovation, expressed his determination to enhance the execution of the ‘Carbon to Green’ strategy this year to achieve ‘All Time Net Zero’ by 2062.
Vice Chairman Kim stated through SK Innovation’s official communication channel recently, "The ‘All Time Net Zero’ announced last year on the company’s 60th anniversary is a distinctive and challenging goal unique to SK Innovation," adding, "While it is a significant burden as it is a commitment to the world, we see this as SK Innovation’s corporate value and will strengthen execution."
All Time Net Zero is a strategy to achieve global carbon reduction equivalent to 480 million tons of direct carbon emissions since the company’s founding by its 100th anniversary in 2062. Kim said, "This year, all SK Innovation affiliates are brainstorming and developing various methodologies for continuous and effective carbon reduction," and added, "We plan to concretize mid-term carbon reduction plans and continuously expand SK Innovation’s eco-friendly businesses and products such as plastic recycling and Battery Metal Recycle (BMR)."
In particular, Kim emphasized that the company will enhance corporate value through solid results from the ‘New Green Portfolio’ transition strategy, marking the start of a new 60 years. He said, "SK Innovation will strongly build the New Green Portfolio through clean energy production and securing a recycling value chain for the transition to an electricity-centered society," and added, "By pursuing the identity of a Green Portfolio Designer & Developer, SK Innovation’s corporate value will be properly recognized in the market."
To this end, Kim mentioned the necessity of not only having proprietary technology but also establishing a system for collaboration with global experts and promising companies. Accordingly, the Open Innovation Post established in Silicon Valley, USA, last November is expected to become a forward base for accelerating green-centered innovation.
Regarding ESG (Environmental, Social, and Governance) management philosophy, Kim also stated that SK Innovation will continue to produce tangible results that are recognized by all stakeholders based on the GROWTH strategy, creating a virtuous cycle into corporate value. To achieve this, the company plans to establish a systematic ESG management system targeting not only domestic but also global business sites.
The GROWTH strategy refers to a comprehensive approach reflecting SK Innovation’s aspirations, including ▲pursuing net zero through carbon-to-green innovation (Green Innovation), ▲strengthening SHE (Safety, Health, Environment) as the foundation of sustainable growth and securing stakeholder trust (Outstanding SHE Management), and ▲the ultimate goal of stakeholder happiness (Together with Society).
Finally, Kim emphasized, "This year marks the first year of the new 60 years and the All Time Net Zero journey," adding, "Just as we have provided the ‘driving force that moves the world’ based on carbon for the past 60 years, let us continue the challenge of transforming the driving force that moves the world into a green-based one and turning it into corporate value."
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