Daehan Electric Wire "Achieving Net Zero by 2050"... Establishes Carbon Neutrality Roadmap

Plan to Obtain SBTi Approval Within the First Half of the Year
Reduce Direct and Indirect Carbon Emissions by Over 46% by 2031

Daehan Electric Wire announced on the 11th that it has established a carbon neutrality roadmap to achieve Net Zero by 2050. This measure aims to enhance competitiveness in the market as advanced countries such as Europe and the United States establish carbon neutrality-related policies and regulations, solidifying carbon-neutral trade barriers.

Since October last year, Europe has been piloting the CBAM (Carbon Border Adjustment Mechanism), which imposes tariffs based on carbon emissions, and the United States is rapidly pushing for the passage of a similar bill, the CCA (Clean Competition Act). In fact, major customers such as power authorities in various countries are demanding greenhouse gas reductions across the entire value chain from suppliers, and they are urging the implementation of RE100 (100% Renewable Energy) for cables used in renewable energy power generation projects.

Exterior view of Daehan Electric Wire Dangjin Plant. [Photo by Daehan Electric Wire]

Daehan Electric Wire plans to quickly respond to market demands by establishing a mid- to long-term roadmap. The greenhouse gas reduction targets were set according to the SBTi (Science Based Targets initiative) standards. SBTi is a global initiative that verifies companies' carbon emission reduction targets based on scientific evidence, with about 7,000 companies worldwide participating, including energy companies in the United States and Europe. Daehan Electric Wire plans to submit its reduction targets and implementation plans within the first half of this year to become the first cable company in Korea to obtain SBTi approval.

According to the roadmap, Daehan Electric Wire plans to reduce the total carbon emissions directly and indirectly emitted from all domestic and overseas business sites by 46% by 2031. In addition, it aims to reduce carbon emissions from the entire value chain, including overseas subsidiaries, partners, and transportation, by more than 30% by 2031, achieving Net Zero by 2050, where all carbon emissions generated from product manufacturing and business activities will be zero.

In particular, the first submarine cable plant, scheduled for completion in 2025, will be established as an RE100 site producing products solely with renewable energy, leveraging this as a strength to target the European market.

A Daehan Electric Wire official stated, "The ability to respond to climate change is becoming a source of competitiveness and growth for companies," adding, "We will create a corporate environment capable of meeting the high standards and demands of major markets such as Europe and the United States, securing a competitive edge in the order market while achieving sustainable growth."