Moorim, the First Domestic Company to Publish a 'Climate Change Response Report'

On the 16th, Murim announced that it has published the '2024 Murim Climate Change Response Report,' the first of its kind in the domestic paper industry, separate from its existing sustainability management reports.

This report is notable for proactively responding to the global mandatory climate disclosure by reflecting not only the TCFD framework but also the IFRS S2 'Climate-related Disclosures' standards established by the International Sustainability Standards Board (ISSB) under the International Financial Reporting Standards (IFRS) Foundation.

Through the report, Murim Paper and Murim P&P have set a long-term goal of achieving carbon neutrality by 2050, along with an interim target to reduce greenhouse gas emissions by 25% by 2030. This significantly exceeds the national industrial sector target of 11.4%, representing the highest level in the industry.

To realize this, Murim has greatly strengthened eco-friendly facilities and process efficiency. Since 2021, it has invested 13.8 billion KRW to improve energy efficiency and is currently expanding eco-friendly high-efficiency recovery boilers using black liquor, a biomass fuel, with an investment of 280 billion KRW by 2025.

Last year, approximately 800,000 tons of greenhouse gas reduction were achieved through this black liquor. Through these efforts, Murim reduced greenhouse gas emissions by 3.2% in 2023 compared to 2022, laying the foundation for achieving the net-zero goal by 2050.

A notable aspect of this report is the calculation of Scope 3 emissions. This includes indirect greenhouse gases generated throughout the entire value chain from product production to distribution and disposal, an area where many companies face management challenges. Murim is expected to set a model example across the paper industry by expanding the scope of climate response management.

Murim is also accelerating the development of sustainable products that contribute to greenhouse gas reduction and resource circulation. The sales proportion of products certified for environmental standards such as low-carbon product certification and biodegradability certification has expanded to 62.7%, and the company plans to acquire various additional environmental certifications to further increase this proportion.

Lee Do-kyun, CEO of Murim, stated, "Murim deeply recognizes the role and responsibility of companies in responding to global climate change," adding, "We will continue to transparently disclose our achievements through the publication of climate change response reports and participation in voluntary initiatives, leading the implementation of the carbon neutrality roadmap."

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