SK Group, a leading energy-to-telecom conglomerate in Korea, is displaying its net-zero technologies and products at the Consumer Electronics Show (CES) 2024, which kicked off on Jan. 9 in Las Vegas. The group aims to position itself as a global provider of carbon reduction solutions and to contribute to the global efforts to combat climate change.
SK Group has set up a pavilion at CES 2024, where it is jointly exhibiting its net-zero technologies and products from seven affiliates, including SK, SK hynix, SK Innovation and SK Telecom. The pavilion covers an area of 1,850 square meters and is decorated with a theme park concept, allowing visitors to experience a net-zero world where the climate crisis has disappeared.
The pavilion features various technologies and products that can reduce carbon emissions and enhance energy efficiency, such as electric vehicle batteries, urban air mobility, small modular reactors, hydrogen turbines, water electrolysis systems, and AI-powered smart home systems. Visitors can ride futuristic trains and flying carpets, and enjoy an AI fortuneteller that can predict their carbon footprint and suggest ways to lower it.
The pavilion also showcases SK Group’s vision and initiatives for achieving net-zero by 2050, which it announced last year at CES 2023. The group pledged to reduce 200 million tons of carbon emissions by 2030, equivalent to 1 percent of the global carbon emissions reduction goal set by the International Energy Agency. SK Group said its member companies have been developing various carbon reduction technologies and solutions as the group has set “net zero” as new growth momentum in the era of energy transition.
SK Group’s net-zero strategy
SK Group’s net-zero strategy is based on three pillars: reducing its own carbon emissions, helping its customers and partners reduce their carbon emissions, and creating social value through carbon reduction activities. The group has set specific targets and action plans for each pillar, and is implementing them across its business portfolio.
For reducing its own carbon emissions, SK Group has adopted the Science Based Targets initiative (SBTi), a global framework that helps companies align their carbon reduction goals with the Paris Agreement. The group has also joined the RE100 initiative, a global campaign that encourages companies to use 100 percent renewable energy. SK Group plans to increase its renewable energy usage from 10 percent in 2020 to 30 percent in 2030, and to 100 percent by 2050.
For helping its customers and partners reduce their carbon emissions, SK Group is expanding its eco-friendly products and services, such as electric vehicles, hydrogen fuel cells, bioplastics, and smart energy management systems. The group is also collaborating with various stakeholders, such as governments, NGOs, and academia, to create a low-carbon ecosystem and to promote green policies and standards.
For creating social value through carbon reduction activities, SK Group is investing in social enterprises and startups that are developing innovative solutions for climate change and environmental issues. The group is also supporting various social programs and campaigns that raise awareness and educate the public about the importance of carbon reduction and sustainability.
SK Group’s net-zero impact
SK Group’s net-zero strategy is expected to have a positive impact on the environment, the economy, and the society. According to a study by the Korea Energy Economics Institute, SK Group’s carbon reduction activities could reduce the global temperature rise by 0.01 degrees Celsius by 2050, and prevent 1,200 premature deaths and 2,400 cases of respiratory diseases caused by air pollution.
The study also estimated that SK Group’s carbon reduction activities could generate 1.8 trillion won ($1.5 billion) of economic value and create 17,000 jobs by 2030. The economic value includes the cost savings from energy efficiency, the revenue increase from eco-friendly products and services, and the social value from carbon reduction and social contribution.
SK Group said it hopes to share its net-zero technologies and solutions with the world and to inspire other companies and organizations to join the net-zero movement. The group said it will continue to innovate and collaborate for a sustainable future for all.