Amore Pacific Receives Net Zero Goal Approval from SBTi
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90% of its greenhouse gas emissions reduced by 2050
Amorepacific announced that it has obtained its 2030 greenhouse gas reduction goal and 2050 Net-Zero (reducing greenhouse gas emissions to zero) goal from the global initiative 'Science Based Targets initiative (SBTi)'. In Korea, only six companies, including Amore Pacific (https://sciencebasedtargets.org as of SBTi July 4 announcement), have had their net zero goals approved according to SBTi standards.
SBTi, jointly established in 2015 by the Carbon Disclosure Project (CDP), the United Nations Global Compact (UNGC), the World Resources Institute (WRI), and the World Wildlife Fund (WWF), which are representative non-profit organizations related to climate change, collaborates with the World Meteorological Organization (IPCC) and International Energy Agency (IEA) in a global initiative to limit the global average temperature rise to 1.5℃. It verifies companies’ short to long-term net zero goals. Through SBTi approval, Amorepacific secured objectivity of its greenhouse gas reduction goals and net zero goals.
Amorepacific plans to reduce the total amount of direct greenhouse gas emissions generated within its business sites (Scope 1) and indirect emissions generated from purchasing electricity (Scope 2) by 48.9% until 2030 and 90% by 2050 compared to 2020. It also plans to reduce the emissions generated from purchased products and services, which account for the largest proportion of other indirect emissions (Scope 3) generated by Amorepacific's business activities by 25% until 2030 and emissions emitted when customers dispose of products after use by 90% by 2050, compared to 2020.
To achieve its goal, Amorepacific joined RE100 in 2021 and achieved visible greenhouse gas reduction effects through self-generation of solar power, direct and indirect PPA and VPPA contracts, introduction of a green rate system, and purchase of renewable energy certificates. In fact, 51.4% of Amore Pacific's electricity usage was converted to renewable power.
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As of 2023, major production sites such as Osan Amore Beauty Park, Daejeon Daily Beauty Plant, and Shanghai Beauty Plant have achieved RE100 at each business site. A roadmap has been created and implemented to convert 100% of the electricity used in all business sites to renewable energy by 2025.
Amorepacific will continue to make various efforts to reduce supply chain emissions, such as improving the recyclability of products and introducing recycled materials in order to promote net zero.
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