Hanhua Enterprise Unveils a Blueprint for Carbon Neutrality

Recently, formulating carbon neutral plans and increasing environmental protection business have become the unanimous choices of major global chemical companies
.
In South Korea, many large Korean companies such as Hanwha and SK have set off a wave of name changes to convey their reform determination to the outside world.

The name change demonstrates the determination to reform

On August 31, the Korean National Assembly passed the "Draft of the Basic Law on Carbon Neutral and Green Development
.
" The bill stipulates that by 2030, greenhouse gas emissions should be reduced by more than 35% compared with 2018

On September 1, SK General Chemical announced that it was renamed "SK Geo Centric", emphasizing the company's future development direction of "centering on the earth and the environment"
.
Its parent company SK Innovation stated that in the context of the carbon neutrality initiative, the company is working hard to transform and upgrade from a carbon emission industry to a green industry

On September 6th, Hanwha General Chemical also changed its company name to "Hanwha Influence" on the 6th
.
The company deleted the word "chemistry" in the original name, which highlighted the business category, and aimed to emphasize the company's development blueprint of "bringing a positive impact on mankind and the planet through technological innovation, and leading a sustainable future

South Korean analysts said that the reason why some South Korean companies changed their names is mainly because of the background of carbon neutrality.
South Korean companies must continue to move into new areas
.
The original company name clarifies the type of business of the company.

　　Eco-environmental protection business

　　In addition to the name change, many Korean chemical companies have recently announced a number of eco-environmental protection business construction plans
.

　　SK General Chemical announced that the company plans to invest approximately KRW 5.
0 trillion (US$4.
3 billion) by 2025 to build a waste plastic equivalent processing capacity of 900,000 tons per year, as part of its domestic plastic production business network, and to produce environmentally friendly materials.

.
The renamed company plans to expand the production capacity of environmentally friendly materials from 500,000 tons/year to 1.

　　For the parent company SK Innovation, its green investment plan is more clear
.
The company’s CEO and President Jin Jun said that the company plans to invest 30 trillion won in green growth by 2025.

　　LG Chem said that the company will cooperate with South Korean biodiesel producer Danshi Industry to build a hydrogenated vegetable oil (HVO) plant at its Dashan Chemical Plant.
The plant will be The manufacture of products such as olefin-styrene copolymer (ABS) and biomass super absorbent polymer (bio SAP) provides environmentally friendly raw materials
.
The amount of investment in this project has not been disclosed

　　LG Chem said that after the establishment of the joint venture, it will provide raw materials for the company's production of biological SAP resin, ABS synthetic resin and PVC
.
The company plans to expand its ISCC Plus international certification products to more than 30 products before the end of this year
.

　　Carry out deep environmental protection transformation

　　In addition to short-term investments, Korean chemical companies are generally adjusting their long-term strategies
.

　　For the plastic recycling market, SK General Chemical announced a plan to recycle 2.
5 million tons of plastic waste per year
.
In order to transform into a green company, SK General Chemical stated that it has decided on a series of long-term transformation measures, including the establishment of a plastic recycling economy system from plastic production to separate collection and recycling, the establishment of recycling clusters, the development of 3R solutions, and the expansion of environmental protection.
materials production
.
Among them, in order to obtain the next generation of plastic recycling technology, the company has signed a memorandum of understanding with domestic and foreign partners, and is developing its own pyrolysis post-processing technology
.

　　LG Chem also announced its 2050 carbon neutral plan
.
LG Chem stated that the company will aim to "provide innovative and sustainable solutions for the environment and society" and actively promote five core issues, namely, tackling climate change, using renewable energy, recycling resources, protecting the ecological environment, Responsible supply chain development and management
.

　　In the long-term plan for chemicals, LG Chem announced that the company will build a circular economy system that recycles waste from products to factories, which will create social and economic value while protecting the environment
.