SK Lubricants launches Korea’s first Carbon Offset Lubricants

The South Korean based lubricants company SK Lubricants has launched Korea’s first carbon offset lubricants. These products achieved zero carbon emissions by purchasing carbon credits. The amount of greenhouse gas generated during the entire production process of these products that is production, transportation, consumption, and disposal is offset by purchasing the same amount of carbon credits issued from greenhouse gas absorption and reduction projects such as afforestation projects.

SK Lubricants secured natural-based, high-quality carbon credits certified by Verra, a voluntary carbon credit certification agency with high international credibility. These credits were obtained from the Guanaré Reforestation Project (VCS-959) in Uruguay, which is to plant trees on pastures in the Guanaré region. The project is expected to absorb a total of 7.8 million tons of greenhouse gases, and will include activities such as biodiversity conservation, local job creation and soil improvement.

“We will monitor the results of the launch and also apply carbon-neutrality on high-end premium lubricants later. At the same time, we will do our best to achieve the Beyond Net Zero goal by continuously expanding direct carbon reduction. Since last year (2021), SK Lubricants has used eco-friendly containers of which recycled plastic materials account for 20 percent, for its best-selling products, which account for 30% of its lubricant products volume. In addition, in July 2022 the company also signed a multilateral business agreement for the “waste lubricant recycling business” with waste lubricant collection and refining companies and the Ministry of Trade, Industry and Energy,” said SK Lubricants.