ESG Strategy Framework
ESG Management System and Vision
ESG Management System
Mission and Vision
SK Gas is committed to practicing ESG management aligned with its corporate mission and vision and leading the way in responding to climate change by pursuing a major transition to a Zero Carbon business portfolio. To this end, SK Gas has established the ESG vision of ‘Sustainable Energy, Better Future’ and set key focus areas based on the ESG directions of ‘For the Planet’, ‘With Stakeholders’, and ‘Through Transparency’.
- Corporate MISSION: We Create the Future of Energy
- Corporate MISSION: Net Zero Solution Provider
- Business Portfolio Transformation: Diversification of business areas [New Growth Engine]
- LPG BM Innovation
- Platform
- Eco Station
- PP
- Retail
- Autogas
- Regional Expansion
- PDH
- Home and Commercial Use
- TSP
- LNG/Power Sector Expansion
- Piping Network Business
- LNG Trading
- LNG Terminal
- LPG Trading
- Optionality
- LNG Bunkering
- SKMU
- UGPS
- Future Clean Energy Leadership (H2/NH3)
- H2 Distribution
- Hydrogen Liquefaction
- Liquefied Storage
- Blue H2/NH3 Import
- Extracted H2 Production
- Turquoise H2 Production
- Green H2/NH3 Import
- H2/NH3 Thermal Power Generation
- Fuel Cells
- NH3 Transport/Storage
Governance of ESG management
The ESG Committee is responsible for advising and reviewing the company’s mid-to-long-term climate change response strategies and sustainable growth through ESG management. It oversees the organization’s climate-related response activities. The committee regularly monitors and discusses the status of climate change response and management, and reports the results to the board of directors. Additionally, decisions are made to identify and respond to climate change-related risks faced by SK Gas.
- Board of Directors
- ESG Committee: ESG-based management advisory, including mid-to-long-term strategies
- CEO
- Head of Management Support
- Head of ESG Operations
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- ESG Operations Group
- Participation in ESG Initiatives
- Responding to ESG Evaluations
- Managing ESG Disclosures
Monitoring by the ESG Operations Group in the Board of Directors
Reports from the ESG Operations Group to the Board of Directors
ESG Masterplan
SK Gas established an ESG master plan in December 2021, recognizing the need for fundamental change to respond to evolving social needs and ensure sustainable growth. The ESG master plan of SK Gas is composed of an innovation plan for transitioning to a Net Zero Solution Provider and strategic directions for each ESG area. Going forward, SK Gas will promote ESG management activities based on the ESG master plan, aiming to secure sustainability for both society and business.
Materiality Assessment
SK Gas regularly reviews the company's potential risks and opportunities on an annual basis from a Double Materiality perspective, which simultaneously considers both the 'Outside-In' financial impact of external factors on the business and the 'Inside-Out' environmental and social impact of the company's activities on society.
By incorporating the results of this double materiality assessment into our management strategy, we are further solidifying our corporate sustainability.
This assessment was conducted with reference to the GRI Guidelines and EFRAG directives, and its credibility was significantly enhanced through precise diagnostics by internal relevant departments and interviews with external experts. The detailed materiality assessment process and its final results are transparently disclosed throughout this Sustainability Report.
ESG Key Indicators
Among the initiatives in our ESG Masterplan, SK Gas enhances its execution by updating key indicators and mid-term goals on an annual basis. For ESG indicators other than the key indicators, we also disclose recent three-year performance records and future three-year goals through the ESG Data Hub.
Social Value
DBL Management
SK is promoting 'DBL (Double Bottom Line) management,' which simultaneously pursues Economic Value (EV) and Social Value (SV). Continuous innovation is essential for a company to ensure sustainability, and the pursuit of social value can serve as a powerful driver for such innovation. Furthermore, new business opportunities can be captured in the process of solving social problems. Through DBL management, SK is driving business model innovation in a direction that fosters the growth of both social and economic value together.
SK DOUBLE BOTTOM LINE
- Economic Value: The final outcome of corporate economic activities, disclosed according to generally accepted corporate accounting standards.
- Social Value: The social performance created by generating profits through corporate economic activities and reducing social damage costs.
Pursuing social value based on a human-centered management philosophy rooted in happiness management.