'Net Zero Report 2024' Published
Carbon Emissions to Decrease by 32% by 2030
Last Year's Carbon Emissions Reduced by 9.4% Compared to Previous Year
Emart announced on the 3rd that it has published the '2024 Net Zero Report,' which contains the goal of achieving carbon neutrality by 2050.
Last year, Emart also declared through the '2023 Net Zero Report' that it aims to achieve carbon neutrality (net zero) by reducing net greenhouse gas emissions to zero by 2050. As an interim target, it set a goal to reduce carbon emissions by 32.8% by 2030 compared to 2018 levels.
The 2024 Net Zero Report includes the actual emission performance and reduction achievements for 2023, as well as a recalculation of future expected emissions (BAU). The report also contains results such as the discovery of new reduction items.
According to the report, Emart divided its greenhouse gas reduction projects into four themes: ▲operational efficiency improvement ▲equipment replacement ▲carbon offset projects ▲investment in renewable energy. The marginal abatement cost was calculated considering investment costs for carbon reduction, energy-saving costs, operating costs, and the amount of carbon reduction.
Emart set an interim goal to reduce carbon emissions by 32.8% by 2030 compared to 2018. To achieve this, it proposed measures such as improving operational efficiency, replacing equipment, securing offset emission credits, and investing in renewable energy. Last year, it focused on the operational efficiency improvement and equipment investment themes among the four reduction themes.
First, Emart expanded the number of stores applying reduction items for energy saving to 33 last year. Energy efficiency was improved through the replacement of high-efficiency LED lighting, turbo freezers, high-efficiency compressors, and the introduction of low-power exhaust fans. Additionally, the company declared an in-house energy emergency management and concentrated on energy saving at each store. As a result, the certified carbon emissions last year were 490,603 tons, which is an 11% reduction compared to the existing BAU. Compared to the previous year, 2022, emissions were reduced by 9.4%, which is explained as an achievement exceeding the target.
Reflecting the 2023 performance results, Emart newly adjusted its reduction themes. The expected emissions (BAU) included the greenhouse gas emissions of Emart Everyday, which is being merged, and applied newly discovered reduction items.
Emart is the first in the industry to calculate and manage not only direct and indirect greenhouse gas emissions (Scope 1, Scope 2) but also emissions from all processes including partners, overseas subsidiaries, products, transportation, and logistics (Scope 3). This includes the emission calculation and verification results of 12 affiliates as well as overseas business sites (Vietnam, Mongolia).
Jeon Sang-jin, Head of Emart Support Headquarters, said, "Emart operates an ESG team and ESG management promotion team under the ESG (Environment, Social, Governance) Committee to respond to environmental risks including climate change," adding, "We will continue to review and implement institutional responses and net zero strategies and directions related to climate change."
Meanwhile, Emart is also actively participating in social carbon reduction activities. Through the mobile receipt campaign, Emart saved over 100 million paper receipts in the past year alone. Last year, it participated in the Carbon Disclosure Project (CDP) climate change response initiative, earning a 'Management B' grade and receiving the 'CDP Korea Carbon Management Special Award.'
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
