[ESG Management Era] Targeting Zero Negative Value in Environmental Sector by 2030
SK Innovation is accelerating its eco-friendly strategy, 'Green Balance 2030,' based on the expansion of ESG (Environmental, Social, and Governance) management. The goal is to reduce the negative environmental impact to zero by 2030.
To achieve this, the company is transforming its core business. A representative example is designating the battery business and key materials such as LiBS as future growth engines. The company has established a battery production capacity of 19.7GWh at local production plants in Seosan, the United States, Europe, and China. It plans to expand domestic and overseas battery production capacity to 125GWh by 2025. SK IE Technology aims to have a total production capacity of 1.87 billion square meters at domestic and overseas LiBS production plants by 2023, accounting for about 30% of global production volume.
SK Innovation also pursues eco-friendliness in its existing businesses such as chemicals and lubricants. Its subsidiary, SK General Chemical, announced plans to increase the proportion of eco-friendly products from the current 20% to over 70% by 2025. The company also halted its naphtha cracking center (NCC), which had been operating since 1972 in Korea, after 48 years for the same reason. To expand the distribution of eco-friendly packaging materials, it developed pyrolysis oil technology that extracts petrochemical raw materials from waste plastics to produce chemicals and lubricant base oils.
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In the second half of this year, SK Innovation plans to launch PBAT-based biodegradable plastic products and develop downgauging materials that reduce the thickness and weight of packaging films. SK Lubricants, which operates the lubricant business, developed recycled containers applied to all products and shared eco-friendly container manufacturing technology with domestic refining companies. Additionally, to address the waste plastic problem, the company has started a volunteer program this month involving all employees.
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