Petrochemical industry launches petrochemical carbon zero committee with 2050 carbon neutral goal

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The launching ceremony of the’Petrochemical Carbon Zero Committee’ was held to promote carbon neutrality in the 2050 petrochemical sector and strengthen public-private communication.

▲Source: Ministry of Industry

In addition to Vice Minister Park Jin-gyu of the Ministry of Industry, the president of the Korea Petrochemical Association, major petrochemical NCC companies, and related experts attended today’s event.

Prior to attending the inauguration ceremony, Vice Minister Park Jin-gyu visited the SK Environmental Science and Technology Institute, which studies methods to pyrolyze waste plastics and recycle them as petrochemical raw materials and fuels, and encouraged officials and listened to their difficulties. SK plans to test the possibility of using waste plastic pyrolysis oil in actual petrochemical processes within this year.

The Ministry of Industry, in order to support the private sector’s carbon-neutral transition, operates a carbon-neutral industrial transformation strategy, establishes a carbon-neutral industrial transformation strategy, enacts a special law for the transformation of a carbon-neutral industrial structure, promotes large-scale R&D projects, and promotes taxation, finance, and regulation special 5 key points He announced that he would actively pursue the task.

In addition, since petrochemicals is urgent to develop eco-friendly manufacturing technologies that utilize hydrogen, carbon, bio, renewable energy, and waste plastics as raw materials and fuels more than any other industry, he added that it will plan large R&D projects and actively support them. .

The petrochemical industry announced the status of carbon neutrality promotion for each individual company. LG Chem is the first in the industry to declare ‘2050 carbon-neutral growth’ and plans to promote RE 100 (Renewable Energy 100%) for all business sites.

Lotte Chemical declared ‘2030 carbon-neutral growth’ and announced its goal of growing 6 trillion won in the eco-friendly sector by 2030 by investing 5 trillion won in eco-friendly businesses.

SK Global Chemical plans to increase the proportion of eco-friendly products to more than 70% by 25 with the goal of a green-centered deep change, and Yeocheon NCC continues to provide facilities and facilities to maintain the global highest level in energy efficiency. It plans to invest in process improvement.

Hanwha Total Petrochemical is reviewing detailed implementation plans in line with France Total’s 2050 Net Zero Declaration and plans to establish a carbon neutral roadmap.

The industry has also made a number of recommendations to move towards carbon neutrality. In order to preemptively introduce technologies for expanding petrochemical fuels and raw materials, which are still in the R&D stage, he also mentioned the need to expand related R&D support and deduct investment tax.

It also discussed revitalization of systems such as green premium rate plans, third-party power purchase contracts (PPA), and renewable energy supply certificate purchases (REC) so that companies can smoothly adopt renewable energy power to promote the RE 100.

Participated in the voluntary energy efficiency target system and requested to expand incentives such as tax cuts for companies selected as excellent workplaces.In connection with the use of the profits from auctions for the allocation of credits related to the emission trading system for GHG reduction projects and expansion of domestic use of overseas offset credits. Also discussed.

Prof. Jinwon Lee of Sogang University announced a plan to promote carbon neutrality in petrochemicals for the conversion of the domestic petrochemical industry to a low carbon structure. As a short-term plan, it suggested improvement of facility efficiency, process improvement using catalysts, etc., and activation of bioplastic R&D.

In the mid- to long-term, Prof. Jin-won Lee announced the replacement of raw materials for hydrogen, carbon and bionaphtha, fuel replacement for new and renewable energy electrolysis furnaces, and waste plastic recycling.

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