Hyundai Steel announced on August 11 that it held the "200th Anniversary of Father Kim Dae-gun's Birth" and the "72nd Chungnam Provincial People's Sports Festival" as the first carbon neutral event in South Korea.
In order to promote the event as a carbon neutral event, Hyundai Steel joined hands with Dangjin City and Lloyd Register.
Hyundai Steel, Dangjin City and Lloyd's Register held an agreement ceremony on August 11 to promote carbon neutral events and vowed to host the event successfully.
The event fulfills its social responsibility for greenhouse gases by calculating the amount of greenhouse gas emissions from energy sources such as vehicles, power, and LNG used throughout the operation and offsetting them to zero levels through Verified Carbon Standard (VCS).
Dangjin City will calculate greenhouse gas emissions generated by the event, while Hyundai Steel will play a role in offsetting carbon emissions by donating VCS.
Lloyd's Register, a global certification authority, will perform a validation of the emissions generated from the event and the offset amount of VCS.
"It is very rewarding to use the company's VCS to realize Environmental, social and governance (ESG) value in the community," a Hyundai Steel official said. "Hyundai Steel will do its best to make a good example as it is the first event in Korea promoted by companies, local governments, and global verification agencies in accordance with the Carbon Neutral PAS 2060."
