Climate Change Data

Samyang Foods

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:64,173 tCO2e/year
Scope 1 Emissions:44,599 tCO2e/year
Scope 2 Emissions:19,577 tCO2e/year
Renewable Energy Share:2.3% (based on 2023 data)
Total Energy Consumption:1373.2 TJ/year
Water Consumption:402,719 tons/year
Waste Generated:12,988 tons/year
Carbon Intensity:0.058 tCO2e/KRW million in 2023

ESG Focus Areas

  • Climate Action
  • Eco-friendly Products
  • Customer Health and Nutrition
  • Product Safety and Quality Assurance
  • Responsible Business Conduct

Environmental Achievements

  • Water usage intensity 34.0% reduction
  • Waste recycling rate reaching 92.6%
  • GHGs intensity 17.3% reduction
  • Energy consumption intensity 14.2% reduction
  • Solar power system at Miryang Plant (351,391kWh)
  • 4 key products LCA completion (achieving low carbon certification for Corn Snack)

Social Achievements

  • Launched plant-based daily health care brand 'Jack & Pulse'
  • Launched premium dairy brand 'Ornic'
  • Launched premium dried noodle brand 'Tangle'
  • Customer claims resolution rate 100% for 3 consecutive years
  • Braille containers applied to 9 products

Governance Achievements

  • Rate of Code of Ethics compliance pledge 99%
  • Legal risk management E-Book published
  • Women representation within the BOD 25%
  • Board meeting participation rate 100%
  • Introduced electronic voting system

Climate Goals & Targets

Long-term Goals:
  • Achieve carbon neutrality by 2050
Medium-term Goals:
  • Achieve a 35% reduction in GHG emissions by 2030 compared to 2023 levels
  • Achieve a recycling rate of 100% by 2030
Short-term Goals:
  • Reduce waste emission intensity by 5%
  • Achieve a 5% annual reduction in water usage

Environmental Challenges

  • Increased GHG emissions driven by significant business growth
  • Increased waste emission intensity due to increased total production and doubled operational capacity at Miryang Plant
  • Supply chain disruptions due to climate change
  • Growing stakeholder demands for climate change information disclosure
  • Damage to business sites resulting from climate change
Mitigation Strategies
  • Developed a 2050 Net-Zero roadmap and detailed action plans
  • Adopting GHG management systems and integrating eco-friendly facilities
  • Adopting high-efficiency equipment and a phased transition to eco-friendly alternatives
  • Publishing the Sustainability Report
  • Optimizing the operational efficiency of production facilities
  • Distributing educational materials and conducting emergency drills

Supply Chain Management

Supplier Audits: 173 partners audited in 2023

Responsible Procurement
  • Transparent partner selection procedure
  • ESG information disclosure requests from partners
  • Supplier Code of Conduct
  • Fair trade guidelines

Climate-Related Risks & Opportunities

Physical Risks
  • Damage to business sites resulting from climate change
  • Water shortages at business sites due to drought
Transition Risks
  • Tightened regulations on GHG emissions
  • Increased volatility in raw material prices due to climate change
  • Growing stakeholder demands for the disclosure of climate change information
Opportunities
  • Reducing carbon emissions through transitioning to renewable energy
  • Growing customer preference for eco-friendly products
  • Establishing a resource circulation system

Reporting Standards

Frameworks Used: GRI Standards 2021, SASB, UN Global Compact's Sustainable Development Goals (SDGs)

Certifications: ISO 14001, ISO 45001, FSSC 22000, HACCP, HALAL, VEGAN, CCM

Third-party Assurance: Korea Management Registrar (KMR)

UN Sustainable Development Goals

  • Goal 1 (No Poverty)
  • Goal 2 (Zero Hunger)
  • Goal 3 (Good Health and Well-being)
  • Goal 6 (Clean Water and Sanitation)
  • Goal 7 (Affordable and Clean Energy)
  • Goal 8 (Decent Work and Economic Growth)
  • Goal 9 (Industry, Innovation and Infrastructure)
  • Goal 10 (Reduced Inequalities)
  • Goal 11 (Sustainable Cities and Communities)
  • Goal 12 (Responsible Consumption and Production)
  • Goal 13 (Climate Action)
  • Goal 15 (Life on Land)
  • Goal 17 (Partnerships for the Goals)

Various initiatives contributing to these goals are described throughout the report.

Sustainable Products & Innovation

  • Eco-friendly packaging
  • Plant-based protein products
  • Health functional foods

Awards & Recognition

  • Chairman’s Award from the Korea Packaging Organization Federation at the 17th KOREA STAR AWARDS