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SK Chemicals Co. announced that it will focus on environmental, social, and governance (ESG) management as part of efforts to achieve net-zero carbon dioxide emissions by 2050.
The South Korean chemical goods manufacturer's first target is to cut its greenhouse gas emissions by 50 percent by 2030.
The company emits 500,000 tons of greenhouse gas emissions annually, including direct emissions during boiler operations and indirect emissions generated through electricity and steam purchases.
SK Chemicals would also reorganize its business portfolio towards being bio and eco-friendly, such as transforming 100 percent of its plastic material products into eco-friendly products and switching to using liquefied natural gas (LNG) at its production sites.
Among the company's plans is to increase the share of recyclable products in its main copolyester business to 50 percent by 2025 and 100 percent by 2030.
SK Chemicals would also join the K-RE100 and shift to electric vehicles to achieve a carbon-neutral ratio of 86 percent by 2040 and 100 percent by 2050.
