■ Products that offset carbon emissions throughout the entire processes (production, transportation, consumption, and disposal) to be available online starting October
■ The Carbon Offset Lubricants include three types of premium low-viscosity engine oil; High-end premium lubricants are also to become carbon-neutral
■ “Our efforts to directly reduce carbon emissions will also continue, striving to achieve the goal: Beyond Net Zero”
SK Lubricants is the first Korean lubricant company to launch “Carbon Offset Lubricants.” These products achieved zero carbon emissions by purchasing carbon credits, but the company plans to continue its efforts to directly reduce carbon emissions during the entire product processes in the future.
SK Lubricants announced on the 7th that it will supply Carbon Offset Lubricants that can balance out carbon emissions from the entire product processes, including production, transportation, consumption, and disposal, starting in October. The amount of greenhouse gas generated during the entire production processes of these products is offset by purchasing the same amount of carbon credits issued from greenhouse gas absorption and reduction projects such as afforestation projects. This is applied to three types of premium low-viscosity engine oil, including ZIC X9 ZERO 0W-30, ZIC X9 LS ZERO 0W-20 and ZIC X9 ZERO 0W-16.
Currently, a realistic way to reduce carbon emissions is to purchase carbon credits in order to offset emissions. This is because no technology is available to completely eliminate carbon emissions in the manufacturing processes, and it is difficult to replace fuels and raw materials with renewable energy and naturally-derived raw materials in a short period of time. For these reasons, SK Lubricants first secured natural-based, high-quality carbon credits certified by Verra, a voluntary carbon credit certification agency with high international credibility.
These credits were obtained from the Guanaré Reforestation Project (VCS-959) in Uruguay, which is to plant trees on pastures in the Guanaré region. The project is expected to absorb a total of 7.8 million tons of greenhouse gases, and will include activities such as biodiversity conservation, local job creation and soil improvement.
SK Lubricants plans to sell Carbon Offset Lubricants online to the general consumers. By using this carbon-neutral lubricants, consumers can save their fuel costs and participate in carbon reduction activities at the same time. In particular, online sales are expected to facilitate consumer access to products. SK Lubricants will disclose the entire process of compensating for greenhouse gas emissions and the source of carbon credits on the SK ZIC website, helping consumers to understand more about the Carbon Offset Lubricants.
At the same time, SK Lubricants continues to expand measures to directly reduce carbon emissions. The process efficiency is already improving, and in order to reduce emissions from packaging materials, the company is also considering additional reduction measures such as increasing the content of high-density polyethylene (HDPE) for container recycling, and improving transportation efficiency. Since last year, SK Lubricants has used eco-friendly containers of which recycled plastic materials account for 20 percent, for its best-selling products, which account for 30% of its lubricant products volume. In addition, in July, the company also signed a multilateral business agreement for the “waste lubricant recycling business” with waste lubricant collection and refining companies and the Ministry of Trade, Industry and Energy.
An official of SK Lubricants said, “We will monitor the results of the launch and also apply carbon-neutrality on high-end premium lubricants later.” He also added, “At the same time, we will do our best to achieve the Beyond Net Zero goal by continuously expanding direct carbon reduction.”
[Photo] The product image of SK Lubricants Carbon Offset Lubricants, SK ZIC X9 LS ZERO 0W-20