SK E&S

“CEOs of Representative Energy Companies of the Republic of Korea Gathered in One Place for Carbon Neutrality ...” “Energy Alliance” launched for decarbonization Doosan Heavy Industries and Construction, DL Energy, SK E&S, E1, GS Energy, POSCO Energy, Hanwha Energy, Hyundai Research Institute, Hyundai Motor, and Hyosung Heavy Industries participated to realize carbon neutrality - Energy companies voluntarily taking on a pivotal role for carbon neutrality of the Republic of Korea

 
□ An energy assembly led by private companies has been launched to actively respond to the Korean government’s carbon neutrality policies and fully support its energy switch policies.
 
□ Ten private companies, including energy companies and Hyundai Research Institute, announced on April 6 that they signed a memorandum of understanding (MOU) for the launch of Energy Alliance and mutual cooperation to secure carbon-neutral innovation initiatives.
 
□ For the launch, the following CEOs of the companies participated: Doosan Heavy Industries and Construction (President and COO Jung Yeon-in), DL Energy (Vice Chairman and CEO Kim Sean), SK E&S (Vice Chairman and CEO Yu Jeong-joon), E1 (Chairman and CEO Koo J. Y.), GS Energy (CEO Huh Yong-soo), POSCO Energy (President and CEO Jeong Ki-seop), Hanwha Energy (CEO Jung In-sub), Hyundai Research Institute (CEO Heo Yong-seok), Hyundai Motor (Executive Vice President Kim Dong-uk), and Hyosung Heavy Industries (Vice President Song Won-pyo) (in the order of the Korean alphabet). The participating companies decided to mutually cooperate in pursuing a reasonable energy switch for the public interest of sustainable national economic development and join efforts made in pursuing policies for carbon neutrality by signing the MOU.
 
ㅇ Minister Sung Yun-mo of the Korean Ministry of Trade, Industry and Energy also attended the ceremony to encourage the energy business to take up the challenge of carbon neutrality.
 
ㅇ Executive Director Fatih Birol of the International Energy Agency (IEA), known as the global energy president, also sent a congratulatory message through a video and said, “I expect the launching of the current Energy Alliance to become the catalyst that moves up further Korea’s carbon neutrality. … IEA will also support in various ways to help Korea reach the goal of carbon neutrality.”
 
□ The alliance was finally launched on this day as a result of discussions held by major private energy companies since early this year under the goal of jointly responding to global decarbonization trends and policies as well as devise business strategies together. In particular, it is the first time that private Korean energy companies have voluntarily created an alliance related to carbon neutrality.

The alliance plans to have the participating companies’ role in the pursuit of Korea’s carbon neutrality acknowledged and secure the people’s support by having more energy companies that empathize with the purpose of the alliance’s establishment join it even after its launching.
 
□ After the signing ceremony, CEO Heo Yong-seok of Hyundai Research Institute spoke under the theme of “changes in the world order in the carbon-neutral era and our response,” during which he said, “As damages from global warming are spreading, consensus on the need to solve the problem is building that the international community has established a new climate system. … Major developed countries and Korea are faced with many challenging tasks as we join efforts made in line with the global trend of ‘carbon neutrality.’”
 
In particular, CEO Heo Yong-seok claimed that new governance that considers the following is needed to overcome such problems: ① private-sector leadership; ② building a resonant ecosystem of the energy industry; ③ presenting a vision that considers both growth and environment; and ④ active participation in solving global problems. He equally emphasized that the alliance should be an association of companies that leads the carbon-neutral era in 2050 with the mission and vision of new governance.
 
□ During the free talk that followed, the participating companies’ CEOs discussed the future detailed role of Energy Alliance while being fully aware of the fact that carbon neutrality is a task they must solve in this era.