SK Inc. presents carbon emissions reduction plan at World Forestry Congress

SK forest's Green Forest Pavilion [SK FOREST]

SK Inc. presented its drive to reduce carbon emissions via large tree-planting projects — afforestation or reforestation depending on the land condition — at the 15th World Forestry Congress (WFC).

The event is being held in Korea for five days starting Monday.

SK forest, the company's wholly-owned subsidiary, opened a booth at the WFC, which is organized by the Food and Agriculture Organization of the United Nations once every six years. It is Korea’s first time being chosen as the host country in the approximately 100-year history of the conference. The Congress runs from May 2 to 6 at Coex in southern Seoul.

Around 10,000 experts in the environmental field from a total of 143 countries are participating this year, SK said.

SK forest's booth, the Green Forest Pavilion, has been designed as a forest, including a replica of a tree, that allows people to feel like they are walking in the forest. The motif of the interior was Mount Indeung in Chungju, North Chungcheong.

The forest company said through the booth, it aims to introduce its various forestry businesses that aim to reduce carbon emissions, including its Afforestation and reforestation Clean Development Mechanism (A/R CDM) project. Trees absorb carbon dioxide in the air, and the company is able to receive carbon emissions permits equivalent to the amount the trees absorbed. SK Inc. planted 250,000 trees in Goseong, Gwangwon.

SK forest has also been actively participating in forest projection projects in developing countries.

The history of SK forest goes back to 1972, when the late SK Group Chairman Chey Jong-hyon established the company. It was named Seohae Development at the time. He bought a total of 4,000 hectares (9,900 acres) of wasteland in Chungju, Cheonan, South Chungcheong, and Yeongdong, North Chungcheong, in 1970s and reforested the areas.

The late Chairman Chey believed that "growing trees is to love your country," the company said.

SK Inc. believes that the reforestation business is the starting point of the company's environmental, social and governance (ESG) initiative. The group plans to curb combined carbon emissions by 35 percent by 2030 and by 85 percent through 2040 compared to emissions in 2020.

Chairman Chey Tae-won in December last year announced a goal of 200 million tons of carbon reduction by 2030, which is an aggressive target as it is equivalent to 1 percent of the world's reduction goal.

BY SARAH CHEA [chea.sarah@joongang.co.kr]