Namdong Power Launches Carbon Neutrality Committee... Accelerating ESG Management

2050 Carbon Neutrality Roadmap Finalized... Launch of Carbon Neutrality Committee
Main Agenda Includes Linked Operation with ESG Management Committee... External Expert Advisory Group Also Established

[Sejong=Asia Economy Reporter Kwon Haeyoung] Korea South-East Power is accelerating its ESG (Environmental, Social, and Governance) management. Following the establishment of the ESG Management Committee, the highest internal deliberative body, earlier this year, it has launched the Carbon Neutrality Promotion Committee directly under the CEO. South-East Power plans to enhance the pace of carbon neutrality implementation and ESG management by operating the Carbon Neutrality Committee and the ESG Management Committee in a linked manner.

According to South-East Power on the 2nd, the company recently finalized the '2050 Korea South-East Power Carbon Neutrality Roadmap' at its headquarters in Jinju and launched the 'Carbon Neutrality Promotion Committee.'

The Carbon Neutrality Promotion Committee is a CEO-direct organization responsible for establishing all company policies and plans related to carbon neutrality and inspecting and evaluating their implementation. It will be responsible for ▲maintaining a dedicated system and collaboration framework for progressing related tasks through a carbon neutrality command system ▲forming channels for external expert advice and knowledge sharing by sector ▲discussing important carbon neutrality issues collectively and swiftly deliberating and resolving them.

The Carbon Neutrality Committee is divided into four specialized technical subcommittees (Efficiency Innovation, Hydrogen & New Renewables, LNG Conversion, Carbon Reduction New Technologies) and a Carbon Management Support subcommittee that supports financial risk management and workforce training and redeployment. Each subcommittee will establish and promote detailed tasks to realize carbon neutrality. To enable rapid decision-making, a Carbon Neutrality General Subcommittee composed of management has also been established. Important agenda items will be operated in connection with the ESG Management Committee, the highest internal deliberative body.

An external expert Carbon Neutrality Advisory Group will also be launched. The advisory group will supplement expertise related to carbon neutrality tasks and provide consultation. Through this, the transition to a carbon neutrality system will be promoted swiftly.

Kim Hoecheon, President of South-East Power, stated, "Carbon neutrality is a social responsibility of energy public enterprises amid the trend of energy transformation and a timely mission that must be fulfilled to realize sustainable management and ESG management. Centered on the Carbon Neutrality Promotion Committee, we will invest company-wide resources and capabilities to achieve net zero by 2050 and become an energy public enterprise that contributes to national greenhouse gas reduction."

Korea South-East Power Co., Ltd. announced on the 2nd that it held a forum to identify and discuss the 'Top 10 ESG Tasks' to establish ESG (Environmental, Social, and Governance) management early at its headquarters in Jinju on the 30th of last month.

Earlier this year, South-East Power established the ESG Management Committee, the highest decision-making body within the company, to build a system for deliberating sustainable management. It is driving the establishment of an ESG management system, including preparing a carbon neutrality roadmap to achieve carbon neutrality by 2050. The finalized 2050 Carbon Neutrality Roadmap specifically includes annual greenhouse gas reduction targets and measures. It also contains plans to expand the transition and development from coal to liquefied natural gas (LNG) power generation and to accelerate renewable power projects such as offshore wind, solar, and hydrogen. Additionally, it consists of five core reduction strategies, including commercialization of carbon capture, utilization, and storage (CCUS) and development of future new technologies.

South-East Power has also identified '10 major tasks' to establish ESG management early. Accordingly, the company plans to establish an ESG management system early by implementing key tasks such as ▲digital transformation of the entire value chain from energy production to supply ▲presenting a blueprint for smart energy leadership and pioneering new energy technologies ▲building a safety management system that prioritizes workers ▲enhancing public trust through transparent and fair management innovation and advancing as a global ethical company.

This content was produced with the assistance of AI translation services.