Greenhouse gas emissions by major domestic conglomerates have steadily declined over the past five years, but an analysis found that the government's 2030 reduction target will be difficult to achieve.
According to Leaders Index, a corporate analysis research institute, on the 14th, greenhouse gas emissions from 201 of the top 500 domestic corporations by sales fell 14.7%, from 491.53 million tons (t) in 2019 to 419.51 million t last year. The survey selected places that disclosed their greenhouse gas emissions every year from 2019 to 2024, allowing a six-year trend comparison.
The government set a goal of reducing greenhouse gases by 40% by 2030 compared with 2018. However, at the current pace, emissions are expected to fall by only around 20% in 2030, about half the target.
Compared with 2019, 106 corporations reduced their emissions last year, while 95 increased them. Notably, reductions were pronounced in traditional "smokestack industries" with a large share of emissions, while corporations expanding their businesses and new industries with rising energy use saw increases.
The corporation with the largest reduction rate was SKC (99.2%). After selling its Onsan plant in 2022, which accounted for most of its greenhouse gas emissions, its emissions fell from 173,964 t in 2019 to 1,437 t last year. It was followed by DL E&C (77.6%), Hanwha (64.0%), LG Electronics (62.4%), and Amorepacific (61.3%).
In terms of absolute reduction, the five power generation companies and POSCO stood out. Korea South-East Power (KOEN) cut its emissions from 53.40 million t to 30.71 million t, down 22.69 million t (42.5%). Korea Southern Power (KOSPO) (33.6%), Korea East-West Power (EWP) (33.4%), and Korea Western Power (KOWEPO) (22.2%) also posted sizable cuts. Among private corporations, POSCO reduced 9.40 million t (11.7%), from 80.50 million t to 71.10 million t, the largest absolute decline. It was followed by LG Display at 2.21 million t (37.6%), Hyundai Steel at 1.33 million t (4.4%), OCI at 950,000 t (44.4%), and LOTTE Chemical at 900,000 t (13.2%).
On the other hand, some corporations saw emissions surge. L&F, a battery materials company, jumped 419%, from 26,641 t to 138,295 t. Hanwha Aerospace also rose 343%, from 25,802 t to 114,383 t, due to the impact of a defense merger. ECOPRO BM (221%), LOTTE Corporation (215%), Iljin Global (196%), and HD Hyundai Chemical (188%) also recorded triple-digit increases.