Gaon Group, First KOSDAQ Listed Company to Receive SBTi Carbon Reduction Target Approval

Gaon Group, a total AI solution specialist company, announced on the 24th that its voluntarily established carbon reduction target has been approved by the Science Based Targets initiative (SBTi). Gaon Group is the first company listed on KOSDAQ to obtain this target approval.

SBTi is a global coalition organization that scientifically verifies greenhouse gas reduction targets set by companies to limit the average global temperature rise to within 1.5 degrees Celsius. It was 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).

Gaon Group set a target to reduce carbon emissions by 42% by 2030 compared to 2022, following the SME (Small & Medium Enterprises) standard procedure. This includes direct greenhouse gas emissions (Scope 1) and indirect greenhouse gas emissions (Scope 2). The company plans to gradually reduce emissions by analyzing greenhouse gas reduction factors and implementing measures such as ▲developing and introducing eco-friendly devices ▲using eco-friendly packaging materials ▲converting corporate vehicles to electric vehicles ▲using renewable energy.

Furthermore, the company plans to complete its CDP membership by the end of this year and expand the measurement scope to include greenhouse gas emissions throughout the entire business operation stages, including the supply chain (Scope 3), and establish additional reduction targets.

As "carbon neutrality" emerges as a major management agenda worldwide, participation in SBTi is meaningful in terms of objectively verifying companies' greenhouse gas reduction activities and gaining credibility. In an era where ESG management is considered essential, it can strengthen a company's global competitiveness and lead to positive evaluations from investors.

According to information currently disclosed on the SBTi website, more than 5,700 companies, institutions, and financial firms worldwide participate in SBTi. In South Korea, there are only about 40 participants, of which about 30 are general companies.

A Gaon Group official stated, "We established the carbon neutrality target to officially join efforts to overcome the global climate crisis and expand ESG management. Now, companies are evaluated not only by business performance but also by sustainability, so we will leverage our various activities as a competitive advantage for global market expansion and firmly establish ourselves as a leading ESG management company in Korea."

Meanwhile, with an export ratio reaching 70%, Gaon Group is rapidly promoting ESG management to compete with large global players. Starting with the first publication of its sustainability management report last year, the company also achieved the highest rating, "Platinum," awarded to the top 1% of companies in the evaluation by the global sustainability assessment organization EcoVadis.

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