▲ Kim Jong-hwa, Head of SHE Division, SK Innovation (in the middle) represents the company to receive the award as one of Carbon Management Sector Honors of Climate Change category in the CDP Korea Climate Change & Water Report 2021.

SK Innovation has been listed in the 2021 Carbon Management Sector Honors, Energy & Utility category, selected by CDP (Carbon Disclosure Project) Korea, in recognition of the company’s effort to implement ESG management.

The ceremony award titled “2021 CDP Korea Report Publishing & Award Ceremony for Excellent Climate Change & Water Management Companies” was held at Silla Hotel, Seoul, South Korea on January 26. The event was attended by Korean Prime Minister Kim Bu-gyeom, Environment Minister Han Jeong-ae, Financial Services Commission Chairman Koh Seung-beom, CDP Korean Committee Chairman Jang Ji-in, etc. Kim Jong-hwa, Head of SHE Division, SK Innovation, represents the company to receive the award on that day.

CDP is an international not-for-profit organization that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts. CDP intends to provide transparent information to financial institutions about global firms they invest in, regarding climate change related opportunities and risks by disclosing their climate change response strategies and GHG emissions, and their endeavors to reduce carbon emissions, among other things.

In Korea, the CDP requests and evaluates the top 300 firms among the listed companies based on their aggregate market values, and the Korean Committee of CDP selects and announces excellent  companies in South Korea every year.

“As the climate crisis is getting serious, the world is in need of climate ‘actions’, not ‘talks’ from companies, thereby disclosure of information is the basis for climate action, and is the key to enhance sustainability,” said CDP Korean Committee Chairman Jang Ji-in. Korean companies should take action on climate change by declaring their support for the TCFD (Task Force on Climate-related Financial Disclosures) and actively disclosing climate-related information through the CDP, which includes the requirements of the TCFD,” he added.

▲ SK Innovation receives the award as one of Carbon Management Sector Honors of Climate Change category in the CDP Korea Climate Change & Water Report 2021. First from left in left photo, third from left in the right photo: Kim Jong-hwa, Head of SHE Division, SK Innovation. Second from left in the left photo, first from right in the right photo: CDP Korean Committee Chairman Jang Ji-in

In Korea, the Carbon Management Sector Honors currently consists of 17 different sectors with varied ratings based on business type (category). Among them, SK Innovation is listed in the Energy & Utility category, and has received the highest score in the category to be one of the Sector Honors in 2021.

In recent years, with strong commitment, SK Innovation has been steadily carrying out activities to reach Net Zero target. It was well recognized for its field application activities of various carbon reduction technologies such as recycling waste plastic, lubricants, batteries (so called “BMR” – Battery Metal Recycle business), and conversion into eco-friendly fuel oil. Such effort has brought SK Innovation rating A minus (A-) in 2021. This is the highest among oil companies in the sector last year.