Earth Day 2023: Decarbonization with a Purpose – How SK is Reducing Carbon Emissions

Each year, Earth Day provides a milestone for individuals, businesses, and governments to celebrate our environment – and how now more than ever we can confront the challenges of climate change to protect it for future generations.

For SK, this is a tangible goal as we have committed to reducing carbon emissions by 200 million tons in 2030, representing 1% of the global target as outlined by the International Energy Agency. To meet this goal SK is investing in a wide-range of carbon reduction technologies and solutions like electric vehicle charging, Urban Air Mobility (UAM), and carbon capture utilization and storage (CCUS).

In the U.S. and globally, SK is working to address the challenges presented by climate change by investing in today’s next-generation solutions – and taking another step toward a better tomorrow.

SK Signet – Building the U.S. EV Charging Infrastructure:

The shift towards EVs is essential for combatting the effects of climate change. Ground transportation, as reported by the International Energy Agency, accounts for 16% of global emissions. More drivers are continuing to make the switch to EVs, but the ability to quickly and easily recharge batteries continues to be a barrier to wider adoption.

To accelerate adoption, charging an EV should be at least as easy as refilling a traditional vehicle. That’s the challenge SK Signet is committed to addressing at its first U.S. plant in Plano, Texas.

The new facility is set to open this summer and produce up to 10,000 fast-chargers annually for EVs. Increasing the number of chargers across the U.S. will ease consumers’ range anxiety and increase adoption of EVs. By increasing the access to chargers, SK is helping accelerate the transition to a net zero future.

SK Telecom – Urban Air Mobility and the Future of Travel:

To reduce transportation-related carbon emissions, SK Telecom is looking to the sky. As part of its Urban Air Mobility initiative in 2022, SK Telecom announced its partnership with Joby Aviation, a U.S. company developing an all-electric, five-seat aircraft that can take off and land vertically (eVTOL).

As SK Telecom showcased at CES 2023 and Mobile World Congress 2023, UAM has the potential to lower carbon emissions as an alternative to internal combustion vehicles and by reducing overall road congestion.

Together, the two companies are working to introduce emissions-free aerial ridesharing services to cities and communities across South Korea. With more than 42 million people living in urban areas, South Korea is an ideal setting to make air travel a part of daily life.

In the U.S., Joby became the first eVTOL company to complete the second stage of FAA certification as it prepares for local operations.

Looking beyond consumer application, SK Telecom plans to expand its UAM technology to diverse areas including public services, logistics, and healthcare.

SK Inc. Materials and ION Clean Energy – Carbon Capture Utilization and Storage:

Earlier this year, SK Inc. Materials announced a new partnership with ION Clean Energy Inc. The Colorado-based company is commercializing its carbon dioxide capture technologies to reduce overall costs and make CO2 capture a more viable option for greenhouse gas mitigation. ION’s proprietary liquid absorbent and process technologies have demonstrated at least 95% capture efficiency, unprecedented solvent stability, and extremely low emissions. ION’s technology is more cost efficient than current commercial solutions for use by point sources of post-combustion CO2 emissions, including large scale natural gas and coal-fired power generation, hydrogen, cement, petrochemical, steel, and mining operations.

The partnership with SK Inc. Materials will support further deploying ION’s industry-leading carbon capture technology in Asia and Australia. By capturing carbon before it even reaches the atmosphere, power plants and industrial facilities can mitigate the effects of climate change – and utilize the CO2 emissions for other means.

Climate change is a global issue that requires global solutions. By expanding CCUS solutions, SK and its partners are helping make industrial manufacturing more sustainable to safeguard the long-term health of our planet.

Looking Towards the Future:

Earth Day may be one moment each year, but it carries with it an important message: there is only one Earth, and we must work together to preserve the planet for future generations. SK is committed to doing our part to combat greenhouse gases by advancing the investments, technologies, and partnerships that will sustain us for many years to come.