Kakao will strengthen its ESG (Environmental, Social, and Governance) management by switching 100% of its electricity consumption to renewable energy by 2040.
On the 24th, Kakao announced that it has joined the global initiative ‘RE100’ to achieve carbon neutrality. RE100 is a voluntary campaign aimed at achieving the goal of switching 100% of the electricity used by companies to renewable energy such as wind and solar power, with over 400 domestic and international companies worldwide participating.
Last year, Kakao converted 100% of the electricity used in operating its Jeju office to eco-friendly solar energy. To raise social interest and awareness about renewable energy, it purchased Renewable Energy Certificates (REC) produced directly by citizen cooperatives across the country.
Starting with this RE100 membership, Kakao plans to convert 60% of the total electricity consumption generated during business operations, including new data centers (IDC) and office buildings, to renewable energy by 2030, and 100% by 2040. Additionally, Kakao will establish an advisory panel on renewable energy across various fields and continuously seek ways to expand the social value of carbon reduction alongside the RE100 initiative.
Hong Eun-taek, CEO of Kakao, said, “Joining RE100 is part of the ‘Active Green Initiative’ declared last year and reflects Kakao’s commitment to continuously participate in responding to the climate crisis. We will fulfill our social responsibility through carbon neutrality practices and continue our efforts toward ESG management.”
Meanwhile, in April 2022, Kakao established principles for responding to the climate crisis and announced the ‘Active Green Initiative,’ expressing its determination to actively contribute to solving environmental issues. The company aims to achieve net zero greenhouse gas emissions by 2040 and contribute to societal sustainability through Kakao’s various services used by the entire population.
Kakao has been included in the ‘DJSI World (Dow Jones Sustainability World Index)’ for two consecutive years and was selected as the ‘Top 1%’ in the ‘2023 Corporate Sustainability Assessment’ announced by S&P Global. In addition, it received an AA rating in the Morgan Stanley Capital International (MSCI) evaluation and achieved an integrated A grade in the ‘KCGS ESG Evaluation’ announced by the Korea ESG Standards Institute, along with A grades in all ESG categories.
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