SK Innovation announced today its Institute of Environmental Science & Technology has become the first CORSIA Verifier in Korean petroleum and refinery industry, allowing it to verify the greenhouse gas emissions for international flights.
SK Innovation has calculated the amount of greenhouse gas emissions in the aviation industry and suggested measures on how to reduce them. The company has set up a system that supports the aviation companies in Korea to attain eco-friendly competitiveness. This also demonstrates SK Innovation’s strategy to build a fundemental frame for its Green Transformation.
The Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) is a part of the resolution passed by the International Civil Aviation Organization (ICAO) in last 2016.
It is aimed to freeze the carbon footprint of the international flights at that of 2019, while purchasing carbon credits to offset the excess in emissions. It was implemented last year. As of January 2022, 107 countries have participated, including Korea.
In Korea, nine airline companies, including Korean Air, are participating in the CORSIA. Every year, these companies submit the annual greenhouse gas emission report and verification report to the Ministry of Land, Infrastructure and Transport (MOLIT) regarding their international flight service, and any company whose emissions go above the limit purchases the credit to offset the requirements.
SK Innovation has attained various international verification qualifications, such as the Carbon Trust, to reinforce its verification capabilities and has secured additional human resources capable of conducting the Life Cycle Assessment (LCA). The LCA is a methodology that comprehensively evaluates the impact on the environment by quantifying the input and output of the life cycle of a product, and even measures its potential impact on the environment.
Thanks to the CORSIA and LCA capabilities, SK Innovation can now not only calculate the greenhouse gas emitted during the production of air fuel but also have much more accuracy and transparency in assessing the emission during consumption.
Recently, with the international trend to push ahead with the decarbonization/low-carbon policies, more actions and regulations regarding the Greenwashing are expected to come down the road. SK Innovation’s actions are its way of preemptively responding to such trends across the globe. Moreover, SK Innovation expects to provide the airline companies and other partners with the options to calculate and offset greenhouse gas emissions when it introduces bio-jet fuel in the future.
“SK Innovation Institute of Environmental Science & Technology will complete establishing the LCA system within this year. It will quantitatively assess the environmental impact of all production activities of SK Innovation and its subsidiaries, from crude oil and raw materials to production,” said Lee Seong-jun, the Head of the Institute of Environmental Science & Technology. He added, “We plan to complete the LCA of the products of SK Innovation’s subsidiaries, including the battery materials, to contribute to achieving the company’s ‘Carbon to Green’ strategy and to building up the foundation for Green Transformation.”
