Huvis (CEO Shin, You Dong), specializing in chemical and fiber materials, announced on the 27th that it had launched the 2050 Carbon Neutral Master Plan as part of its efforts towards ESG-focused operation to cope with global climate change and to comply with the government's drive for a reduction in greenhouse gas (GHG) emissions.
The Master Plan is designed to i) achieve a substantial reduction in GHG emissions by adopting strategies to achieve enterprise-wide carbon neutrality, covering the head-office, the research lab and Jeonju Plant, and setting up detailed action plans with a well-organized management structure and ii) ensure greater sustainability and resource circularity.
Based on sector-specific short-term and long-term roadmaps focusing on higher energy efficiency, upgrading of facilities, greater R&D efforts in green and recycling, supply chain management, more relevant certifications, and social contributions, the plan aims to achieve a reduction of 23 percent in GHG emissions by 2030 and to reach net-zero by 2050.
Specifically, the company is considering the deployment of a co-generation power plant that relies on green energy sources. In fact, in last May, the company adopted solar powered street lights within its premises on a pilot basis as a move towards greater use of renewable energy sources. In September, it commenced operation of a facility to demonstrate the feasibility of photovoltaic generation under the sponsorship of the Ministry of Environment as part of the agency's policy on funding of efforts towards carbon neutrality. In the mid-to-long term, the company is also considering the deployment of other alternative clean energy sources including hydrogen fuel cells.
Other initiatives that are in place to achieve such a substantial carbon reduction include upgrading facilities through carbon capture, utilization and storage (CCUS), replacement of outdated equipment, deployment of electric forklifts, and the adoption of low carbon transportation. All these will focus on greater energy efficiency and better supply chain management.
Another focus area under the plan is greater R&D efforts and a wider product portfolio to achieve greater sustainability and resource circularity. The company will focus on increasing its capability to achieve carbon neutrality in a more substantial manner by, among other things, adopting technologies to use biomass, launching more biodegradable products, and expanding the share of physically or chemically recyclable products in its portfolio. It will also channel more resources into garnering more certifications related to sustainability and the reduction of GHG emissions, including CO2 zero/reduction, GSR and RE100.
The company’s other internal and external activities to help drive transition to carbon neutrality include cleaning the surroundings of its Jeonju Plant in association with local pro-environmental activities, a competition of ideas to drive member participation in carbon neutrality activities, and a green commuting challenge led by the city of Jeonju.
“We have been seeking ways to implement the 2050 carbon neutrality goal since the launch of the ESG Committee,” says a source of Huvis. “The Carbon Neutrality Master Plan will provide a huge momentum for us to drive our ESG-focused operation, including upgrading of the relevant organization and greater investment.” <The End>
