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- Vowing to abate direct/indirect emissions in Scope 1 & 2 by 95% by 2040 and other indirect emissions in Scope 3 by 90% by 2050
- “We will endeavor to improve value for stakeholders pursuant to ESG management policies”

The world is _ing of climatic crisis as extreme climatic events are prevailing around the globe. With added attention paid to the roles of governments and corporations in tackling the crisis, SK Networks (CEO: Ho Jeong Lee) announced on the 21st the approval of its greenhouse gas (GHG) emissions abatement targets by the SBTi (Science Based Targets Initiative).

The SBTi is a global alliance jointly established in 2015 by the CDP (Carbon Disclosure Project), the UNGC (UN Global Compact), the WRI (World Resources Institute) and the WWF (World Wildlife Fund). The SBTi is globally recognized as a reliable champion of environmental protection, defining emissions abatement standards for businesses and verifying their goals, etc.

Joining the SBTi last year, SK Networks submitted a short-term target of direct and indirect emission abatements of 46.2% by 2031 from 2021 level and a long-term target of 95% reduction by 2040 to reach Net-Zero (Scope 1&2). In addition, the Company vowed to reduce other indirect emissions by 27.5% by 2031 and 90% by 2050 (Scope 3). The SBTi approval of these short and long-term Net-Zero targets vouches for the objectivity of the greenhouse gas emissions reduction goals set by SK Networks.
 
First of all, SK Networks will replace energy sources directly emitting greenhouse gases with electricity to shift to indirect GHG emissions and abate indirection emissions as well by using renewable energies and purchasing green premiums for instance. Moreover, other indirect emissions across the entire value chain will be further reduced in cooperation with business partners.

SK Networks has continued to launch initiatives pursuant to its ESG management policies. The Company confirmed its support for the TCFD (Task Force on Climate-Related Financial Disclosures) last year by agreeing to accurately measure the impacts of climate change on its operations and disclose financial/non-financial impacts to verify the measurement. In this March, SK Networks saw its MSCI ESG assessment rating lifted by notch to A in recognition of its ESG management performance and published the sustainability report accounting for its ESG management status in June, which was the sixth edition in fix consecutive years.

“The SBTi approval shows that we have moved one step closer to achieving Net-Zero in tackling the climate crisis and reaching carbon neutrality,” said an official at SK Networks. “We will go forward with our endeavors to improve value for all stakeholders pursuant to ESG management policies.”

Samil Building of SK Networks