SK Chemicals Targets Full Product LCA Certification

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by KnowESG
KnowESG_SK Chemicals LCA certification
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In a recent announcement, SK Chemicals released its annual sustainability report for the year 2022, highlighting the company's commitment to environmental, social, and governance (ESG) activities.

Centred around its "Eco-Transition" strategy, the report showcases SK Chemicals' accomplishments in three critical areas: embracing eco-friendly practices, fortifying climate change response systems, and advancing AI technology and research and development capabilities.

Of particular importance within the report is the company's emphasis on Life Cycle Assessment (LCA). LCA plays a pivotal role in SK Chemicals' transition toward eco-friendliness as it seeks international certification to quantify greenhouse gas reduction efforts and establish a sustainable foundation.

Notably, SK Chemicals has already secured LCA certification for 79 product grades across nine groups, constituting 84% of its projected sales for the current year. The company is now determined to obtain LCA certification for all its products by 2025.

This ambitious endeavour is projected to generate approximately KRW 190 billion worth of additional carbon credits over the next five years, starting in 2026. These credits will be attributed to products utilising recycled raw materials produced through cutting-edge depolymerisation technology.

Moreover, SK Chemicals is actively pursuing its net-zero goal by 2040. To this end, the company is taking concrete steps, such as transitioning boiler fuel to hydrogen at the Ulsan plant and implementing solar power generation facilities at the Cheongju plant.

In addition to its environmental focus, SK Chemicals is dedicated to upholding human rights. Last year, the company established a comprehensive human rights management system aligned with international guidelines. Demonstrating a continued commitment, SK Chemicals remains dedicated to prioritising human rights across its operations and upholding these principles.

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Source: Korea IT Times

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