Climate Change Data

S-OIL Corporation

Climate Impact & Sustainability Data (2020)

Reporting Period: 2020

Environmental Metrics

Total Carbon Emissions:9,117,000 tCO2e/year
Scope 1 Emissions:7,362,000 tCO2e/year
Scope 2 Emissions:1,755,000 tCO2e/year
Scope 3 Emissions:34,000 tCO2e/year
Renewable Energy Share:0.108%
Total Energy Consumption:125.788 TJ/year
Water Consumption:28,661,000 m3/year
Waste Generated:38,740 tons/year
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Environment
  • Social
  • Governance

Environmental Achievements

  • Reduced greenhouse gas emissions by 140,000 tons compared to the previous year despite increased crude oil processing.
  • Achieved 85.8% waste recycling rate.
  • Maintained air pollutant emissions below legal limits.

Social Achievements

  • Launched various social contribution activities, including the ‘Sunshine Sharing’ volunteer group and support for underprivileged communities.
  • Maintained zero labor disputes for 41 consecutive years.
  • Achieved a 7 million man-hour safety record without accidents.

Governance Achievements

  • Achieved A+ rating in corporate governance evaluation for 5 consecutive years by the Korea Corporate Governance Service.
  • Obtained ISO 37301 Compliance Management System certification, the first in the world.
  • Zero compliance incidents reported.

Climate Goals & Targets

Long-term Goals:
  • Achieve Net Zero emissions by 2050
Medium-term Goals:
  • Reduce carbon emissions by 20.5% compared to BAU by 2030
  • Increase energy efficiency by 15% by 2030
Short-term Goals:
  • Reduce water consumption by 10% by 2025
  • Achieve a TRCF of 0.10 or less by 2025

Environmental Challenges

  • COVID-19 pandemic impacting global supply chains and demand.
  • Climate change risks, including extreme weather events and carbon border taxes.
  • Cybersecurity threats in the context of digital transformation.
Mitigation Strategies
  • Implemented comprehensive COVID-19 prevention measures, including remote work and enhanced hygiene protocols.
  • Developed a long-term carbon emission reduction strategy aiming for Net Zero emissions by 2050.
  • Strengthened cybersecurity measures based on international and domestic security standards.

Supply Chain Management

Supplier Audits: 100% of critical suppliers

Responsible Procurement
  • Code of conduct
  • Supplier sustainability requirements
  • e-Procurement system

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events (typhoons, heavy rain)
  • Sea level rise
Transition Risks
  • Carbon border taxes
  • Decreased demand for oil and petrochemical products
Opportunities
  • Development of energy-efficient products
  • Investment in fuel cell technology

Reporting Standards

Frameworks Used: GRI Standards (Core option)

Certifications: ISO 14001, ISO 37301

Third-party Assurance: Korea Productivity Center

UN Sustainable Development Goals

  • Goal 7 (Affordable and clean energy)
  • Goal 8 (Decent work and economic growth)
  • Goal 9 (Industry, innovation, and infrastructure)
  • Goal 13 (Climate action)

Initiatives contribute to these goals through various ESG programs and investments.

Sustainable Products & Innovation

  • Low-sulfur fuels
  • Energy-efficient products

Awards & Recognition

  • 2020 Dow Jones Sustainability Index World Index
  • Various awards from the Korea Productivity Center and the Industrial Policy Research Institute