We have expanded the list of climate policies we assess company engagement with to incorporate land-use related policy, referring to legislative or regulatory measures to enhance and protect ecosystems and land where carbon is being stored. Assessments under this category are currently underweighted in terms of their contribution to the overall company metrics. This weighting will be progressively increased over the next 6 months.
We adjusted the terminology used to describe the queries running down the left-hand side of our scoring matrix and added additional explanatory text to the info-boxes. This has no impact on the scores and methodology. It has been done following user feedback to improve clarity.
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
The CEO of SK E&S, Choo Hyeong-wook, is the Chairman of the Independent Power Producers Association. (IPPA website, last accessed August 2022)
Choo Hyeong-wook
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InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
The CEO of SK E&S, Choo Hyeong-wook, is the Chairman of the Independent Power Producers Association. (IPPA website, last accessed August 2022)
Choo Hyeong-wook
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
The CEO of SK E&S, Yu Jeong-joon, is the Vice President of the Korea New and Renewable Energy Association. (KNREA website, last accessed September 2022)
Yu Jeong-joon
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
The CEO of SK E&S, Yu Jeong-joon, is the Vice President of the Korea New and Renewable Energy Association. (KNREA website, last accessed September 2022)
Yu Jeong-joon
--no extract--
In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.
Open PDF file of Data Source
Climate Policy Engagement Overview: SK E&S appears to have limited engagement with climate policy in South Korea. The company has supported policy to expand the use of renewable energy in South Korea on one occasion, but also appears to support the maintenance of a high GHG emissions energy mix, such as advocating for blue hydrogen and LNG over other zero-carbon energy sources.
Top-line Messaging on Climate Policy: InfluenceMap found limited evidence of clear top-line messaging on climate policy by SK E&S. In its 2021 Sustainability Report in July 2022, SK E&S supported the goals of the Paris Agreement. In an interview with the SK E&S Media room in August 2022, the CEO of SK E&S, Yu Jeong-joon, appeared to support a price on carbon, but it was unclear if this included support for government regulations.
Engagement with Climate-Related Regulations: InfluenceMap found limited evidence of SK E&S’ engagement with climate-related regulations. In an interview with the SK E&S Media room in August 2022, the CEO of SK E&S, Yu Jeong-joon, stated support for emissions trading schemes to “induce more active carbon reduction activities of companies.” In a consultation response to the 2050 Carbon Neutrality Scenario in September 2021, SK E&S supported market-based renewable energy policy in South Korea, including support for voluntary procurement for renewable energy such as enabling renewable energy power purchase agreement (PPA) and providing incentives for PPAs.
Positioning on Energy Transition: SK E&S appears to take mixed positive and negative positions on the transition of the energy mix. The company appears to support increased renewable energy and CCUS technology, but also supports continued use of fossil fuels such as LNG. In a position paper on the 2050 Carbon Neutrality Scenario in September 2021, SK E&S stated its support for LNG without clear conditions around CCS or methane abatement measure. As reported by the SK E&S Media room in May 2022, the CEO of SK E&S, Yu Jeong-joon, appeared to promote the transition from coal to LNG over other zero carbon energy sources, stating that it would play a “gateway” role in Asia’s energy transition. While the statement acknowledged “clear challenges” of LNG as a fossil fuel, CEO Yu did not specify conditions for carbon capture or methane abatement measures. In an interview with the SK E&S Media room in August 2022, the CEO stated support for blue hydrogen without clear conditions on the use of CCS, stating support for renewable energy but citing concerns about its intermittency. Meanwhile, in a position paper on the 2050 Carbon Neutrality Scenario in September 2021, SK E&S supported government policy intervention for renewable energy-based power mix transition. In the same position paper, SK E&S supported CCUS technology.
Industry Association Governance: SK E&S has disclosed a list of its industry association memberships in its 2021 Sustainability Report, but with no further details of the company’s role within each organization’s governing bodies nor influence over their climate change policy positions. SK E&S has membership to the Independent Power Producers Association (IPPA) and the Korea New and Renewable Energy Association (KNREA). The co-CEO of SK E&S, Choo Hyung-wook, is the Chairman of the IPPA and the co-CEO of SK E&S, Yu Jeong-joon, is the Vice Chairman of the KNREA.