"Used Oil as Biodiesel Feedstock"… Lotte GRS Receives Minister of SMEs and Startups Commendation

Seoul Small Business Association Excellence Award for SME Support
700,000ℓ Waste Oil Collected Over 3 Years
2,000t Carbon Reduction Effect

Lotte GRS announced on the 21st that it received the Minister of SMEs and Startups Award at the 2024 Seoul Small and Medium Business Conference for its waste oil resource circulation project.

The award category was 'Excellent Organization Supporting Small and Medium Enterprises,' recognizing its contribution to national industrial development through supporting the growth and market expansion of SMEs. In particular, waste oil resource circulation was highlighted as a representative case of ESG (Environmental, Social, and Governance) management.

At the 2024 Seoul Small and Medium Business Conference held on the 20th at the SME DMC Tower, Lee Seung-joo, Executive Director of Management Support Division at Lotte GRS (right), along with representatives of companies awarded the Minister of SMEs and Startups Commendation, are posing for a commemorative photo.
[Photo by Lotte GRS]

Lotte GRS operates the waste oil circulation project in partnership with its partners. The project processes waste oil generated from Lotteria and Krispy Kreme Doughnuts stores into raw materials for biodiesel. The company explained that over the past three years, it has collected an average of about 700,000 liters of waste oil annually, creating a carbon reduction effect of approximately 2,000 tons, equivalent to the amount absorbed by about 290,000 pine trees in one year.

Additionally, among the plastic disposable items generated at stores, waste plastics, which account for a large proportion, are made into eco-friendly uniforms through physical recycling technology and applied to Lotteria, Angel-in-us, and Krispy Kreme Doughnuts.

Furthermore, to promote mutual growth with various partners, Lotte GRS has undertaken initiatives such as ▲ devising ideas to prevent partner safety accidents ▲ providing win-win management consulting ▲ supporting supply chain due diligence and consulting. Through these efforts, it was selected for the first time in the second half of last year as a target for evaluation by Sustainvest, an ESG evaluation company, and received the highest AA rating.

A Lotte GRS official stated, "We will continue to strive to create sustainable growth engines and fulfill our social responsibilities to realize ESG management."

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