Potential offtaker

Kolon Industries, INC.

www.kolonindustries.com

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Which other companies from South Korea are actively involved in decarbonization initiatives?
  • SK Siltron
  • Samsung Life Insurance Co., Ltd.
  • Shinhan Financial Group
  • Kia Corporation
  • SeAH Steel Holdings Corporation
  • Woori Financial Group
  • Kolon Industries, Inc. is a South Korean company that operates in the Organic Resins, Fibers & Rubber sector. The company was founded in 1954 and has since grown to become one of the leading manufacturers of synthetic fibers, resins, and rubber products in the world. With a focus on innovation and sustainability, Kolon Industries has been at the forefront of the decarbonisation movement, working to reduce its carbon footprint and promote the use of renewable energy sources.

    Decarbonisation is one of the most pressing issues facing the world today, and Kolon Industries is committed to doing its part to address this challenge. The company has set ambitious targets for reducing its greenhouse gas emissions, with a goal of achieving carbon neutrality by 2050. To achieve this goal, Kolon Industries is investing in a range of initiatives aimed at reducing its energy consumption and promoting the use of renewable energy sources.

    One of the key initiatives that Kolon Industries is pursuing is the use of corporate power purchase agreements (PPAs) to secure renewable energy. Corporate PPAs are agreements between a company and a renewable energy provider, in which the company agrees to purchase a certain amount of renewable energy over a specified period of time. By entering into these agreements, companies like Kolon Industries can help to drive demand for renewable energy and support the growth of the renewable energy sector.

    Kolon Industries has already signed several corporate PPAs to secure renewable energy for its operations. In 2019, the company signed a PPA with a wind farm in South Korea, which will provide 40% of the electricity needed for its manufacturing facilities. The company has also signed a PPA with a solar power plant in the United States, which will provide renewable energy for its operations in North America.

    In addition to pursuing corporate PPAs, Kolon Industries is also investing in renewable energy projects of its own. The company has built several solar power plants in South Korea, which generate renewable energy for its manufacturing facilities. These projects not only help to reduce the company's carbon footprint but also provide a source of stable, long-term energy supply for its operations.

    Corporate energy management is another area where Kolon Industries is making significant investments. The company has implemented a range of energy-saving measures, such as upgrading its lighting systems and HVAC systems, to reduce its energy consumption. In addition, the company has implemented a comprehensive energy management system, which allows it to track and analyze its energy usage and identify areas where further improvements can be made.

    Kolon Industries is also investing in research and development to develop new, more sustainable products. The company has developed a range of eco-friendly resins and fibers, which are made from renewable materials and have a lower environmental impact than traditional products. These products are in high demand from customers who are looking to reduce their own carbon footprints and promote sustainability in their supply chains.

    Overall, Kolon Industries is a company that is committed to sustainability and decarbonisation. Through its investments in renewable energy, corporate PPAs, and energy management, the company is working to reduce its carbon footprint and promote the use of renewable energy sources. With its focus on innovation and sustainability, Kolon Industries is well-positioned to continue to lead the way in the Organic Resins, Fibers & Rubber sector and set an example for other companies to follow.

    ✓ Science Based Targets member