GS Caltex achieves Korea's first third-party carbon footprint verification

Representatives from GS Caltex, ECO G&R and DNV Business Assurance Korea pose for a photo during a carbon footprint verification handover ceremony held in Gangnam District, southern Seoul. [GS CALTEX]

GS Caltex completed Korea’s first third-party assessment of carbon emission volume with Norway’s DNV, the energy company said Thursday, a move aimed at enabling objective evaluation of the company’s recycled plastic products.

Founded in 1864, DNV — Det Norske Veritas — is a classification society that provides certification and technical assessment in multiple industries including energy and maritime.

On Thursday, GS Caltex held a handover ceremony for a carbon footprint verification in southern Seoul, with representatives from ECO G&R and DNV Business Assurance Korea in attendance.

GS Caltex established a life cycle assessment system for recycled automotive plastic materials with ECO G&R, and calculated carbon footprint based on the assessment methodology with the Carbon Neutral Research Institute to complete the DNV third-party verification for the first time in Korea.

GS Caltex acquired a 40 percent stake in ECO G&R, an automotive plastic recycling company, in July. GS Caltex produces composite resins with recycled automotive plastic material supplied by ECO G&R.

Carbon footprinting for plastic recycling has rarely been third-party verified. With the latest project, GS Caltex secured a methodology for a life cycle assessment of recycled automotive plastic materials, the company said.

The verification also confirmed that GS Caltex’s recycled plastic feedstock cuts carbon emissions by 70 percent compared to newly produced polypropylene, according to the company.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]