SK Chairman calls on affiliates to speed up net zero

Jun 24, 2021, 09:30 am

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SK Group Chairman Chey Tae-won makes a closing remarks at the “2021 Extended Management Meeting” held at SK Management System (SKMS) Center in Icheon, Gyeonggi Province, on June 22, 2021./ Source: SK

AsiaToday reporter Choi Jeong-ah

SK Group Chairman Chey Tae-won ordered his company’s affiliated companies to achieve the goal of net zero emissions. The goal is to achieve carbon neutrality by reducing greenhouse gases, including carbon dioxide, prior to 2050.

During a meeting with CEOs of affiliates dubbed ‘2021 Extended Management Meeting’ at the SK Management System (SKMS) Center in Icheon on Wednesday, Chey said net zero emissions is “not a matter of choice, but a matter of competitiveness.” “If we move faster than others, our strategic choices will increase and we will eventually win the competition,” he said.

The meeting was attended by 30 management officials, including SK Discovery Vice Chairman Chey Chang-won and SK Supex Council Chairman Cho Dae-sik.

As a result, SK CEOs jointly decided to push for “Net Zero” to achieve zero greenhouse gas emissions. Starting with SK Materials, which set the goal of net zero emissions by 2030, each affiliate set an early achievement goal. They decided to set an interim goal every decade and disclose the results transparently every year. Specifically, they decided to cut greenhouse gas emissions until 2030 by 35 percent of the amount emitted in 2020 and 85 percent by 2040.

In addition, SK Group Chairman stressed the importance of the ‘financial story’. “We have been at the forefront of the country’s environmental awareness campaign, and we achieved many results through various deep change methodologies such as business model innovation, social values, double-bottom lime (DBL), shared infrastructure, and ESG. If we put such methodologies together in a bowl and practice them so that stakeholders can empathize, we can eventually earn trust and achieve greater results,” he said.

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