KT&G obtains SBTi approval for its Net-Zero greenhouse gas reduction targets.

KT&G (CEO Kyung-man Bang) announced on the 9th that it has received approval from the Science Based Targets initiative (SBTi) for its "2030 Greenhouse Gas Reduction Targets" and "2045 Net-Zero Goal."

The SBTi is a global coalition that sets and verifies companies' carbon emission reduction targets based on scientific evidence. It was jointly established in 2015 by the Carbon Disclosure Project (CDP), the United Nations Global Compact (UNGC), the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF).

KT&G plans to reduce its total direct emissions (Scope 1) and indirect emissions from purchased energy (Scope 2) by more than 42% by 2030 compared to 2020 levels. The company also aims to reduce other indirect emissions (Scope 3) generated through its business activities by more than 25% compared to 2022. Furthermore,

KT&G has set a goal to achieve Net-Zero across all Scope 1, 2, and 3 emissions by 2045. This is considered the most advanced Net-Zero implementation target among Korean companies that have received SBTi approval.

To achieve these targets, KT&G has expanded its ESG management efforts toward carbon neutrality, including transitioning to high-efficiency equipment, entering into Power Purchase Agreements (PPAs), and introducing solar power generation facilities. As a result, in 2023, the company's greenhouse gas emissions from domestic and overseas operations decreased by 9% compared to 2020, and the share of renewable energy in its electricity consumption rose from 0.1% in 2020 to 19% in 2023.

In particular, to further increase renewable energy usage, KT&G completed the installation of solar power generation facilities at its Gwangju, Yeongju, and Daejeon factories last year and this year. The company plans to expand this to five domestic factories by 2026, establishing power generation facilities with a total capacity of approximately 21.6 MWp.

Lee Sang-hak, KT&G's Senior Vice President (Chief Strategy Officer), said, "This approval is highly significant as it confirms the international credibility of KT&G's carbon reduction targets," and added, "We will continue to strengthen our response to climate change and environmental responsibility activities to practice sustainable management that grows in harmony with society."

(Photo Description1) KT&G announced on the 9th that it received approval from SBTi for its greenhouse gas reduction targets. The image relates to KT&G's SBTi Net-Zero target approval.

(Photo Description2) KT&G announced on the 9th that it received approval from SBTi for its greenhouse gas reduction targets. The photo shows a panoramic view of KT&G's Yeongju factory, equipped with solar power generation facilities.