■ The company’s self-developed measurement system for carbon footprint from energy/chemical products acquired international certification by an independent certifier.

■ The system automatically calculates the lifetime greenhouse gas emission of gasoline, diesel, ethylene, propylene, and other major energy/chemical products.

■ “A quantitative assessment of the company’s effort for Net Zero… expecting to achieve the Net Zero goal even earlier.”

On August 17th, SK Innovation announced that the company was certified by LRQA (Lloyd’s Register Quality Assurance), regarding the global standards (ISO14040:2006, ISO14044:2006, ISO14067:2018) for calculation of the carbon footprint of its products. This is the first time a company in petroleum/chemical industry in South Korea to be certified with a self-developed calculation system for measuring carbon emissions.

LRQA is a verifier of greenhouse gases (GHG) emissions designated by the Korean Ministry of Environment. The agency is carrying out its certification service with its expertise all around the world.

The LCA Infra of SK Innovation, which acquired the certification mentioned above, is organized to consistently measure and monitor the GHG emission from the company’s energy and chemical products, including gasoline, diesel, ethylene, propylene, and other major products, throughout the entire life cycle, from excavation stage to using, and finally to disposal stage, according to a standardized procedure. The infra is also packed with other features, such as the measurement and monitoring of carbon emission throughout all the phases of the projects (Scope 1/2/3**), performed by each and every affiliate of SK Innovation, as well as the impact assessment by different solutions to reduce the carbon emission.

(*) *LCA(Life Cycle Assessment): A method to quantify and evaluate potential environmental impacts that may occur throughout the life cycle of the product.

(**) Scope 1/2/3: Classification system of greenhouse gas emission sources. Scope 1 covers the direct emissions that occurs during the product production stage. Scope 2 covers the indirect emissions that occurs in the process of generating electricity and power for the workplaces. Scope 3 covers the external emissions that occurs throughout the entire value chain, including logistics, usage, and disposal or in partner companies.

All the members of the company are already utilizing the LCA Infra of SK Innovationto monitor the current emission status of GHG from both the company activities and the products, as well as its effort to execute the Net Zero goal. The company is going to expand the use of this measurement system to substantiate actual carbon emissions from its products to present the result to the outside, including its clients.

An official from SK Innovation said, “With the LCA Infra of SK Innovation, the company anticipates accelerating the Net Zero by fast and quantitative measurement of its effort for the goal.”

[Photo]

(Photo) Kim Cheol-jung, Head of Portfolio Divisional Group, SK Innovation (right) and Lee Il-hyoung, Korea Operation Manager of Lloyd’s Register Quality Assurance (Korea) Ltd (left) take a photo together after the ceremony held at SK Seorin Building, Seoul, South Korea, on August 17 (KST).