KoreaTechToday - Korea's Leading Tech and Startup Media Platform
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Lists
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Lists
No Result
View All Result
KoreaTechToday - Korea's Leading Tech and Startup Media Platform
No Result
View All Result
Home Lotte

Lotte Group Promotes Eco-Friendly Chemical Biz ‘Green Promise 2030’

 1,258 total views,  1 views today

James Jung by James Jung
PUBLISHED: February 3, 2021 UPDATED: February 4, 2021
in Lotte, Tech Industry
0
Lotte Group and its chemical subsidiaries will incorporate the ‘Green Promise 2030,' an eco-friendly business policy promoting carbon neutrality.
Lotte Group and its chemical subsidiaries will incorporate the ‘Green Promise 2030,' an eco-friendly business policy promoting carbon neutrality.

Lotte Group and its chemical subsidiaries will incorporate the ‘Green Promise 2030,' an eco-friendly business policy promoting carbon neutrality.

South Korean multi-industry company Lotte Group revealed its aim for carbon neutrality goals by 2030. In accordance with the global ESG trend, Lotte Group announced they would incorporate eco-friendly strategies into their chemical business units. The four chemical subsidiaries include Lotte Chemical, Lotte Precision Chemical, Lotte Aluminum, and Lotte BP Chemicals. Aside from being Lotte’s largest chemical subsidiary, Lotte Chemical is one of the top Korean chemical companies along with LG Chem.

Lotte Group revealed the Green Promise 2030, an eco-friendly business policy in which the company would invest KRW 5.2 trillion for promoting carbon-neutral growth by 2030. Under the Green Promise 2030, Lotte Group’s chemical subsidiaries would upgrade their green business regulations and update their client requirements. The chemical business units would also concentrate on increasing sales of eco-friendly products and optimizing material recycling. Following these strategies, their carbon emissions would lessen their environmental impact and their waste systems would improve. In addition, the chemical subsidiaries’ accumulated revenue could reach KRW 6 trillion from the green manufacture of their products.

“2021 would mark the starting point of environmental, social, and corporate governance (ESG) management for Lotte’s chemical businesses,” said Kim Gyo-hyun, Lotte Chemical Corporation’s chief executive and president. “This year our focus will be on establishing sustainable and eco-friendly business strategies and executing core tasks.”

To achieve its goal of selling one million tons of recycled material by 2030, Lotte would utilize post-consumer recycling solutions. In this technology, Lotte Group’s chemical companies would collect and reprocess plastics from household and commercial packaging. Even with Lotte’s growing business operations, Lotte Chemical will retain its greenhouse gas emissions at 2019 levels until 2030.

South Korean Companies and Green Business Strategies

Moreover, petrochemical companies are handling environmental issues on waste and air pollution from their facilities. For the waste reduction goal completion, Lotte and their chemical subsidiaries would cut down their factory emissions by 50 percent. Through reconditioning their production facilities, the companies will minimize the discharge of toxic substances in their air and water waste.

Among Korean chemical firms, Lotte Group’s Green Promise 2030 is one of the latest long-term initiatives incorporating ESG. Currently, Korean businesses are establishing company-wide environmental-friendly policies in their management and operations. In response to climate change, companies such as LG Chem, Hanwha, and POSCO have assimilated green regulations and renewable energy systems into their business activities.

Check out other must-read articles from KoreaTechToday:

  • LG Chem Launches “LIKE GREEN” To Increase Sustainability Awareness
  • LG Chem Announces Carbon Neutrality Goals at World Economic Forum
  • Hyundai, Naver to Take Lead in President Moon’s Korean “New Deal”
  • POSCO Develops Integrated Eco-Friendly Mobility Brand ‘e Autopos’
What’s your thoughts?
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
Tags: carbon neutralitychemicalevo-friendlyGreen Promise 2030Lotte ChemicalLotte Group

Related Posts

Korea Takes Action Against Technology Leakage: Proposed Bill Targets Industrial Technology Protection
Lotte Group and its chemical subsidiaries will incorporate the ‘Green Promise 2030,' an eco-friendly business policy promoting carbon neutrality.
Korea Policy Center

Korea Takes Action Against Technology Leakage: Proposed Bill Targets Industrial Technology Protection

July 20, 2023
Lotte Group Expands into Silicon Anode Market with Enwires Investment
Lotte Group and its chemical subsidiaries will incorporate the ‘Green Promise 2030,' an eco-friendly business policy promoting carbon neutrality.
Lotte

Lotte Group Expands into Silicon Anode Market with Enwires Investment

July 17, 2023
Ministry of Science
Lotte Group and its chemical subsidiaries will incorporate the ‘Green Promise 2030,' an eco-friendly business policy promoting carbon neutrality.
South Korea

Korean Ministry of Science and ICT Announces $1 Billion Worth of Loans and Guarantees Policy for the Digital Sector

June 15, 2023
Security
Lotte Group and its chemical subsidiaries will incorporate the ‘Green Promise 2030,' an eco-friendly business policy promoting carbon neutrality.
South Korea

CJ OliveNetworks Partners with Korea Internet & Security Agency to Bolster Information Security Proficiency of SMEs

June 14, 2023
South Korea introduces new policy measures to promote the exports of digital products
Lotte Group and its chemical subsidiaries will incorporate the ‘Green Promise 2030,' an eco-friendly business policy promoting carbon neutrality.
South Korea

South Korea introduces new policy measures to promote the exports of digital products

June 6, 2023
ChatGPT apps
Lotte Group and its chemical subsidiaries will incorporate the ‘Green Promise 2030,' an eco-friendly business policy promoting carbon neutrality.
Tech Industry

Fake ChatGPT apps preying on users’ trust in South Korea

May 31, 2023
No Result
View All Result

Most Popular

  • Top South Korean Tech Products to Look Out for in 2021

    0 shares
    Share 0 Tweet 0
  • 5 Best Korean to English Translation Apps

    0 shares
    Share 0 Tweet 0
  • SK Telecom, KT, LG Uplus Start Pre-ordering for Apple’s iPhone SE

    0 shares
    Share 0 Tweet 0
  • Netflix Files Civil Lawsuit Against SK Broadband Over Network Fees

    0 shares
    Share 0 Tweet 0
  • KT Corporation to develop Korea’s Wifi AP Market via Intel MOU

    0 shares
    Share 0 Tweet 0
  • Quantum Security Arrives in South Korea Thanks to SK Broadband

    0 shares
    Share 0 Tweet 0
  • Samsung Unveils 2024 Generative AI Roadmap for Home Appliances

    0 shares
    Share 0 Tweet 0
  • 5 All-Time Best Rom-Com K-Dramas to Watch

    0 shares
    Share 0 Tweet 0
  • Top Nine Mobile MMORPG in South Korea for 2020

    0 shares
    Share 0 Tweet 0
  • Hyundai Introduces Rotator-Cam for Clearer Autonomous Driving

    0 shares
    Share 0 Tweet 0

PRODUCTS

TESSAN Germany France Travel Power Adapter

Lonely Planet Korea 12

Korean Snack Box Variety Pack

OSULLOC Lovely Tea Gift Box Set

TOPICS

  • Naver
  • Kakao
  • Nexon
  • Netmarble
  • NCsoft
  • Samsung
  • Hyundai

FREE NEWSLETTER

FOLLOW US

  • About Us
  • Cookie policy
  • homepage
  • Privacy Policy
  • Terms of Use

Copyright © 2023 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy| Contact : press@koreatechtoday.com |

No Result
View All Result
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Lists

Copyright © 2023 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy| Contact : press@koreatechtoday.com |