The Korea Herald


SK Innovation CEO pledges to accelerate green transition

By Yu Ji-soo

Published : Feb. 6, 2023 - 17:46

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SK Innovation CEO Kim Jun SK Innovation CEO Kim Jun

Kim Jun, CEO of South Korea’s largest energy company SK Innovation, reaffirmed the company’s commitment to go net zero with more detailed action plans to be implemented across the firm.

In a recent interview with the firm’s official news channel SKinno News, Kim revealed that this will be the first year to begin implementation of its greenhouse gas emission reduction plan called “All Time Net Zero.”

The All Time Net Zero vision was announced last year during the 60th-anniversary ceremony for SK Innovation’s foundation. It is a pledge to offset the company’s entire 480-million-metric-ton carbon footprint by its 100th anniversary in 2062. At the ceremony, the vision was declared as a promise to ensure a more sustainable world for future generations.

In the interview, Kim emphasized that making such a promise to the world is a bold move, but it will serve as the defining factor of SK Innovation’s company value.

“We are embarking on a new journey toward our All Time Net Zero goal. For the past 60 years, we have relied on carbon-based efforts to advance the world. Starting now, the next 60 years will see a shift in focus to green-based efforts,” the CEO said.

To that end, the company plans to propel the All Time Net Zero vision by reinforcing its "Carbon to Green" strategy, which was first presented in July of 2021. The strategy outlines the necessary actions for a transition from a carbon-centered business to a green-centered one.

The company is currently developing various methods under the Carbon to Green strategy in order to help its subsidiaries, such as SK Energy and SK Geo Centric, consistently and effectively reduce their carbon emissions.

This entails a switch to a new green portfolio and an expanded business model that includes more eco-friendly products and services.

Regarding this, the CEO went into more detail: “We are planning to build up different sustainable business platforms such as our recycling value chain for plastic and battery metal recycling.”

He also mentioned the importance of implementing a system for working with global experts and other promising companies to expedite Green Innovation. Efforts to achieve this are already underway, such as SK Innovation's collaboration last year with Silicon Foundry, an American global innovation advisory company, on the establishment of the Open Innovation Post in Silicon Valley.