SK Networks Strengthens ESG Management Execution Capabilities

Declaration of Participation in the Global Initiative SBTi and Support for TCFD

[Asia Economy Reporter Kiho Sung] SK Networks announced on the 8th that it has joined the Science Based Targets initiative (SBTi).

SBTi is a global coalition jointly established in 2015 by the Carbon Disclosure Project (CDP), United Nations Global Compact (UNGC), World Resources Institute (WRI), and World Wide Fund for Nature (WWF), which verifies companies' greenhouse gas reduction targets. More than 3,600 companies worldwide participate in SBTi.

SK Networks, along with its subsidiaries such as SK Rent-a-Car and SK Magic, became the 30th domestic company to join. Last year, SK Networks announced a plan to achieve net zero (a state where greenhouse gas emissions and absorption are balanced so that greenhouse gases do not increase) by 2040. In line with SBTi management standards, the company plans to respond to greenhouse gas reduction by developing, submitting, and verifying reduction targets related to its business.

Additionally, SK Networks recently declared support for the Task Force on Climate-related Financial Disclosures (TCFD). TCFD is an international disclosure initiative created by the Bank for International Settlements Financial Stability Board (BIS FSB) at the request of the Group of Twenty (G20) to improve and increase climate-related financial reporting. Following the TCFD support declaration, SK Networks plans to accurately measure the impact of climate change on the company and disclose both financial and non-financial impacts accordingly.

Furthermore, SK Networks' homecare rental subsidiary, SK Magic, has recently strengthened its eco-friendly management by receiving the 'Zero Waste to Landfill (ZWTL)' Gold certification from UL Solutions, an international safety and environmental certification body. The Zero Waste to Landfill certification grants Platinum (100%), Gold (99?95%), and Silver (94?90%) grades based on the proportion of waste from business sites reused as resources, serving as an indicator to evaluate corporate resource circulation efforts. Walkerhill Hotel & Resort also received this certification at the end of last year.

Going forward, SK Networks plans to actively collaborate with global organizations to promote ESG (Environmental, Social, and Governance) management aligned with the direction of its main and subsidiary businesses, thereby enhancing the foundation for sustainable management.

An SK Networks official stated, “Collaboration with global organizations has enabled us to further refine detailed action plans for reducing greenhouse gas emissions,” adding, “We will establish eco-friendly strategies in all areas related to our business and achieve net zero by 2040.”

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