SK Inno Verifies Carbon Emissions of All Petroleum Products... "'Net Zero' Drive Accelerates"

SK Innovation members discussing international aviation greenhouse gas emissions. They have obtained official verifier qualifications for greenhouse gas emissions in the international aviation sector. (Photo by SK Inno)

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[Asia Economy Reporter Moon Chaeseok] SK Innovation announced that it will actively pursue net zero (carbon neutrality) by massively hiring experts to verify the carbon emissions generated during the production and consumption processes of its petroleum products. This is expected to enhance objectivity in establishing carbon emission reduction plans related to aviation fuel.

On the 10th, SK Innovation revealed that members of its Environmental Science and Technology Institute recently obtained certification as official verifiers of carbon emissions in the international aviation sector, the first in the domestic refining and petrochemical industry. By recruiting talent with international environmental verification qualifications such as Carbon Trust and expertise in life cycle assessment (LCA), the company has strengthened its organizational capabilities. Through this, it secured higher objectivity and transparency in verifying carbon emissions generated throughout the entire value chain (supply chain) of aviation fuel products?from production to consumption?and in establishing reduction measures to minimize these emissions.

SK Innovation plans to utilize its international aviation carbon emission verification capabilities to support domestic airlines in enhancing their eco-friendly competitiveness. Based on objective carbon emission verification capabilities, it is expected to provide partner companies such as airlines with methods to calculate greenhouse gas emissions resulting from the introduction of low-carbon products like bio aviation fuel. Even if greenhouse gas emissions increase, SK Innovation intends to offer options to offset these emissions in the market. Furthermore, the company plans to gradually establish verification and solution measures for carbon emissions of all petroleum products it produces in the future, accelerating its net zero initiatives.

Lee Sung-joon, head of SK Innovation’s Environmental Science and Technology Institute, stated, "The institute will establish a life cycle assessment (LCA) system within this year to quantitatively evaluate the environmental impact from crude oil and raw materials to product manufacturing for the business company’s products. Going forward, we will complete life cycle assessments for all SK Innovation affiliates’ products, including battery materials, contributing to achieving SK Innovation’s 'Carbon to Green' strategy."

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