Samyang Corporation
Climate Impact & Sustainability Data (2022, 2023)
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:270,112 tCO2e/year
Scope 1 Emissions:153,271 tCO2e/year
Scope 2 Emissions:116,853 tCO2e/year
Renewable Energy Share:1.2%
Total Energy Consumption:6,298 TJ/year
Water Consumption:4,344,632 m3/year
Waste Generated:27,955 tons/year
Carbon Intensity:0.19 tCO2e/ton of product in 2022
ESG Focus Areas
- Environmental Management and Climate Change Response
- Waste and Hazardous Chemical Management
- Energy Management for Low-Carbon Emissions
- Customer Health and Nutrition
- Product Safety and Quality Improvement
- Strengthening Safety and Health Prevention Activities
- Flexible Organizational Culture and Work-Life Balance
- Ethics and Compliance Management
- ESG Management System Establishment
- Transparent Information Disclosure
Environmental Achievements
- Developed Korea's first eco-friendly polycarbonate with 90% recycled plastic content.
- Received the Minister of Environment's commendation for eco-friendly technology promotion and consumer promotion.
- Achieved EcoVadis Gold level certification (top 5%).
- All domestic business sites acquired ISO 14001 certification.
- Ulsan Plant 1 received the Minister of Environment's award for excellent environmental information disclosure.
Social Achievements
- Launched 'Functional Materials and Sugar Reduction Solutions Seminar' for customer health.
- Qwon Sangkweahuan won the 2022 Korea Brand Award.
- Incheon Plant 2 recognized as an excellent risk assessment workplace by the Korea Occupational Safety and Health Agency.
- Incheon Plant 1 acquired ISO 45001 safety and health management system certification.
- Samyang Packaging conducted a safety awareness campaign at Daejeon Plant 2.
Governance Achievements
- Established an ESG committee under the board of directors.
- Established a nomination committee for outside directors.
- Established an ESG dedicated organization.
- Developed and published human rights management policy.
Climate Goals & Targets
Long-term Goals:
- Achieve carbon neutrality by 2050
Medium-term Goals:
- Achieve 50% greenhouse gas emission reduction by 2040
- Increase renewable energy use to 5% by 2025
Short-term Goals:
- Reduce water consumption by 5% by 2023
- Reduce greenhouse gas emissions by 20% by 2030
Environmental Challenges
- Climate-related physical risks (extreme weather events)
- Transition risks (regulatory changes, market shifts)
- Waste management
- Hazardous chemical management
- Supply chain disruptions
Mitigation Strategies
- Established emergency response committees and systems.
- Developed and implemented environmental management policies.
- Implemented waste reduction and recycling initiatives.
- Established hazardous chemical management systems.
- Developed alternative sourcing strategies and strengthened supplier relationships.
Supply Chain Management
Supplier Audits: 319 supplier safety and health assessments in 2022
Responsible Procurement
- Supplier Code of Conduct, green procurement policy, RSPO certified palm oil
Climate-Related Risks & Opportunities
Physical Risks
- Extreme weather events (heat waves, strong winds)
Transition Risks
- Regulatory changes, market shifts towards sustainable products
Opportunities
- Development of energy-efficient products and processes, expansion into renewable energy
Reporting Standards
Frameworks Used: GRI Standards 2021, UN Global Compact SDGs, SASB
Certifications: ISO 14001, ISO 45001, FSSC 22000, HACCP
Third-party Assurance: Korea Management Certification Institute (KMR)
UN Sustainable Development Goals
- Goal 7 (Affordable and Clean Energy)
- Goal 9 (Industry, Innovation, and Infrastructure)
- Goal 12 (Responsible Consumption and Production)
- Goal 13 (Climate Action)
Samyang's initiatives contribute to these goals through renewable energy adoption, sustainable product development, waste reduction, and climate change mitigation.
Sustainable Products & Innovation
- Eco-friendly polycarbonate with 90% recycled content, various sugar reduction solutions
Awards & Recognition
- 2022 Korea Brand Award (Qwon Sangkweahuan)
- EcoVadis Gold level certification
- Minister of Environment's commendation (Ulsan Plant 1)
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:416,788 tCO2e/year (Scopes 1, 2, and 3)
Scope 1 Emissions:143,307 tCO2e/year
Scope 2 Emissions:117,277 tCO2e/year
Scope 3 Emissions:1,864,625 tCO2e/year
Renewable Energy Share:0.047% of total energy use
Total Energy Consumption:6,152 TJ/year
Water Consumption:4,145,753 m3/year
Waste Generated:29,693 tons/year
Carbon Intensity:0.21 tCO2eq/ton in 2023
ESG Focus Areas
- Environmental Management and Climate Change Response
- Waste and Hazardous Chemical Management
- Enhancing Customer Health and Nutrition/Enhancing Product Safety and Quality
- Strengthening Safety and Health Prevention Activities
- Flexible Organizational Culture and Work-life Balance
- Ethics and Compliance Management
- ESG Management System Advancement
Environmental Achievements
- Increased the target of net zero emissions by 2030 from 20% to 42%
- Installed solar panels at six business sites
- Developed a recycled polycarbonate (PCR-PC) that contains over 90% recycled PC material
- Reduced GHG emissions by 9,537 tCO2eq
- Reduced air pollutant emissions by 16 tons
- Achieved 96% waste recycling rate
Social Achievements
- Established a safety and health management policy
- Established a three-year mid- to long-term strategy for safety and health
- Established the Supplier Code of Ethics and sustainable supply chain policy
- Established a human rights policy
- Carried out a human rights impact assessment
- Achieved 100% customer complaint handling rate
- Sangkwaehwan (EASY TOMORROW) ranked No. 1 in customer satisfaction for six consecutive years
Governance Achievements
- Established ESG Committees under the Boards of Directors and operated the ESG Management Council and the ESG Working-level Council
- Joined the United Nations Global Compact (UNGC) in February 2024
- Appointed a female outside director
Climate Goals & Targets
Long-term Goals:
- Achieve net zero emissions by 2050
Medium-term Goals:
- Achieve GHG reduction by 42% by 2030
- Achieve GHG reduction by 72% by 2040
Short-term Goals:
- Increase the purchase and usage of recycled PC materials to 6,350 tons by 2025
- Generate sales of KRW 80 billion from specialty ingredients by 2024
Environmental Challenges
- Climate change risks (physical risks like typhoons and floods, chronic risks like heatwaves; transition risks like policy/regulation changes, technology adoption, market shifts)
- Supply chain disruptions
- ESG risks associated with suppliers
Mitigation Strategies
- Developed five key strategies for greenhouse gas reduction (high-efficiency energy facilities, process improvements, renewable energy, digital technology integration, circular economy)
- Established a Roadmap to Net Zero Emissions by 2050
- Implemented a Factory Energy Management System (FEMS)
- Implemented a Life Cycle Assessment (LCA) system
- Developed a green purchasing policy
- Established a Supplier Code of Conduct
- Implemented an ESG risk management process for suppliers
- Developed a three-year mid- to long-term strategy for safety and health
Supply Chain Management
Supplier Audits: 48 key suppliers evaluated in 2023 (80% of total procurement value)
Responsible Procurement
- Supplier Code of Conduct
- Green purchasing policy
- Fair supplier selection guidelines
Climate-Related Risks & Opportunities
Physical Risks
- Reduced on-site production capacity due to typhoons and floods
- Damage to outdoor products due to increased typhoon frequency
- Increased production costs due to heatwaves
Transition Risks
- Increased cost of purchasing carbon credits
- Increased compliance requirements due to global GHG emission regulations
- Increased costs due to the adoption of renewable energy
Opportunities
- Entry into the sustainable product market
- Reduction of operating costs by adopting sustainable energy
Reporting Standards
Frameworks Used: GRI Standards 2021, SASB, UN SDGs
Certifications: ISO 14001, ISO 45001, FSSC 22000, HACCP, HALAL, Kosher, GMP, IATF 16949
Third-party Assurance: Korean Standards Association (KSA)
Sustainable Products & Innovation
- Recycled polycarbonate (PCR-PC)
- TRIECO 4D (plastic material from recycled fishing nets)
- Allulose
- Resistant dextrin
Awards & Recognition
- Various awards for environmental management, food safety, and innovation