Lotte Chemical Joins 'RE100'... Transition to Renewable Energy by 2050

Lotte Chemical will switch 100% of its electricity consumption to renewable energy by 2050.

Lotte Chemical announced on the 5th that it has joined the global initiative 'RE100 (Renewable Energy 100)'. From the left, Jin-gu Hwang, Head of Basic Materials Business at Lotte Chemical; Kyo-hyun Kim, Vice Chairman of Lotte Chemical; Young-jun Lee, Head of Advanced Materials Business at Lotte Chemical.

On the 5th, Lotte Chemical announced that it has joined the global initiative 'RE100 (Renewable Energy 100)'. RE100 is a campaign to convert 100% of the electricity used in corporate activities to renewable energy such as solar and wind power, with annual targets set autonomously by each company.

Lotte Chemical plans to expand its use of renewable energy to 60% by 2030 and 100% by 2050 to achieve RE100.

Last year, Lotte Chemical established its renewable energy introduction strategy and goals, and this year it will install solar power facilities mainly at domestic sites such as Yeosu, Daesan, and Ulsan.

It also plans to secure Power Purchase Agreements (PPA) and Renewable Energy Certificates (REC), and promote the introduction of renewable energy at overseas sites. By 2050, it will also introduce renewable power using green hydrogen.

Kim Gyo-hyun, Vice Chairman of Lotte Chemical, stated, "Joining RE100 is part of our strategy to practice ESG (Environmental, Social, and Governance). We will implement various measures as planned to convert 100% of our electricity consumption to renewable energy by 2050, contributing to carbon neutrality."

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