Create future value through transparent management.
- Publishing sustainability reports since 2018 to disclose ESG management status
- Adding details to the Net Zero 2040 roadmap and joining SBTi (Science-based Targets initiative)
- Leaving impressive footprints, with SK magic expanding the green collection lineup and earning ZWTL Gold validation, SK rent-a-car opening Jeju Eco Lounge, and MINTIT waging an end-of-life mobile phone return campaign.
- “Business decisions informed by ESG management policies will enhance our presence as a sustainable enterprise”
By enhancing ESG initiatives while building up competitive business models, SK networks has published sustainability reports for six years in a row, endeavoring to create true social value.
SK networks (CEO: Ho Jeong Lee) announced on June 30 that the Company published the 2022 Sustainability Report covering the financial performance and ESG (Environment, Society, and Governance) highlights of its head office and major subsidiaries from 2022 to the first annual half of this year on its website (www.sknetworks.co.kr). According to the report, SK networks created 522.8 billion won in social value last year, which breaks down to 492.6 billion won in indirect economic contribution, 17.2 billion won in environmental contribution, and 13 billion won in social contribution.
Speaking of specific initiatives, SK rent-a-car has opened the Eco Lounge in Seogwipo City where both people and electric vehicles can take a break while recharging to provide Jeju travelers with an enjoyable EV charging experience. In addition, the EV Park Jeju being built at SK rent-a-car Jeju Branch is Korea’s largest EV-exclusive rental estate that will also provide a pleasant EV experience to customers visiting Jeju with 7,200kW charging capacity. When completed by the first half of 2024, the EV Park Jeju will greet customers with a pickup tower where they can rent a car to start a trip and a return terminal where they can return a vehicle and take a break afterwards.
SK magic is enhancing customer value, announcing a transition to become a home life curation company and putting forward a household goods sub_ion strategy. The company also extends the Green Collection lineup where eco-friendly plastic materials are used in greater ratios under the 3 Zero goal calling for complete removal of carbon, plastic, and waste. The Eco Mini water purifier, one of the Green Collection products, is a non-powered water purifier that does not consume any electric power. It minimizes carbon footprint, and uses recycled plastic for 64% of its components, saving 8.4 million PET bottles in terms of the 2022 sales. SK magic also earned the ZWTL (Zero Waste to Landfill) Gold validation, a benchmark of resource recycling operations by business organizations.
SpeedMate endeavored to foster resource circulation in the mobility industry by rolling out the ECO parts distribution business for imported cars. The company also launched an emergency EV charging service to offer greater convenience and safety of EV customers. SK networks service provides EV charger deployment/maintenance services to SK electlink and everon to contribute to promoting eco-friendly vehicles and puts spurts to RE100 initiatives via the solar power business.
Walkerhill beefed up resource circulation by deploying a bio food waste decomposer that uses microbes to decompose over 200 tons of food waste a year. The hotel also implemented a grey water system that could save water resources by recycling up to 200 ton of water a day or 70,000 ton a year. MINTIT, operating Korea’s first AI-enabled secondhand mobile phone purchasing kiosk, waged a variety of initiatives to harvest resources from used phones, launching an end-of-life mobile phone return campaign together with the Ministry of Environment, and supplying smartphones to be used in braille learning in partnership with a startup.
Investment-wise, SK networks is tapping a variety of global investment opportunities, with focus on sustainability. The AI smart farm solution provider Source.ag in which SK networks invested recently developed an AI model that optimizes farming techniques to applicable farms to maximize crop yield and estimate the quantity of farming resources necessary to reduce water consumption and chemical use. SK networks also invested in MycoWorks that produces eco-friendly sustainable leather, utilizing mushroom mycelia. Mushroom-based leather can reduce environmental pollution that occur as animals are grown to produce conventional leather.
SK networks vows to forge ahead with business innovation and deliver greater value to stakeholders, factoring ESG in its existing business models and new investment deals.
An official at SK networks said, “We will cement our presence as a sustainable enterprise by ensuring that all business decisions are informed by ESG management policies in a structured manner.”
Cover of SK networks’ 2022 Sustainability Report