Lotte Chemical Corporation Sustainability Profile
Lotte Chemical Corporation, a leading player in the global petrochemical industry, is headquartered in South Korea (KR). Founded in 1976, the company has established a strong presence in key operational regions, including Asia, Europe, and North America. Lotte Chemical focuses on producing a diverse range of high-quality products, including polymers, chemicals, and advanced materials, which are integral to various industries such as automotive, electronics, and packaging. With a commitment to innovation and sustainability, Lotte Chemical has achieved significant milestones, including advancements in eco-friendly production processes. The company is recognised for its robust market position, consistently ranking among the top petrochemical firms worldwide. Its unique offerings, characterised by superior performance and environmental responsibility, set Lotte Chemical apart in a competitive landscape.
DitchCarbon Score
How does Lotte Chemical Corporation's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Plastic production industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Lotte Chemical Corporation's score of 39 is higher than 71% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Lotte Chemical Corporation's reported carbon emissions
In 2024, Lotte Chemical Corporation reported total carbon emissions of approximately 22,946,394,000 kg CO2e. This figure includes 5,853,287,000 kg CO2e from Scope 1 emissions, 3,862,060,000 kg CO2e from Scope 2 emissions, and 13,231,056,000 kg CO2e from Scope 3 emissions. The Scope 3 emissions encompass various categories, with significant contributions from purchased goods and services (11,095,217,000 kg CO2e) and downstream leased assets (11,736,000 kg CO2e). Lotte Chemical has set ambitious climate commitments, aiming to reduce absolute Scope 1 and 2 GHG emissions by 23% by 2028, using 2019 as the base year. Additionally, the company targets a 23% reduction in Scope 3 emissions related to fuel and energy activities within the same timeframe. Furthermore, Lotte Chemical aims for 80% of its suppliers, based on emissions from purchased goods and services, capital goods, and upstream transportation and distribution, to have Science-Based Targets (SBTs) by 2027. This commitment aligns with industry standards for climate action, reflecting Lotte Chemical's dedication to reducing its carbon footprint and enhancing sustainability across its operations and supply chain.
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| 2016 | 2017 | 2018 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | - | - | - | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 2 | 1,481,537,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 3 | - | - | - | - | 00,000,000,000 | 0,000,000,000 | 00,000,000,000 |
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Lotte Chemical Corporation's Scope 3 Categories Breakdown
Lotte Chemical Corporation's Scope 3 emissions, which increased by 64% last year and increased by approximately 14% since 2022, demonstrating supply chain emissions tracking. Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 58% of total emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 84% of Scope 3 emissions.
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Lotte Chemical Corporation's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Lotte Chemical Corporation has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
Frequently Asked Questions
Common questions about Lotte Chemical Corporation's sustainability data and climate commitments