Lotte Wellfood Sustainability Profile
Lotte Wellfood Co., Ltd., a prominent player in the food industry, is headquartered in South Korea (KR) and operates extensively across Asia. Founded in 2000, the company has established itself as a leader in the production of high-quality processed foods, including ready-to-eat meals, snacks, and health-oriented products. Lotte Wellfood is renowned for its commitment to innovation and quality, utilising advanced technology to ensure the freshness and nutritional value of its offerings. The company has achieved significant milestones, including expanding its product range to cater to diverse consumer preferences. With a strong market position, Lotte Wellfood continues to excel in delivering unique culinary experiences, making it a trusted name in the food sector.
DitchCarbon Score
How does Lotte Wellfood'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 Food Product Manufacturing 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 Wellfood's score of 39 is higher than 67% 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 Wellfood's reported carbon emissions
In 2023, Lotte Wellfood reported total carbon emissions of approximately 45,373,000 kg CO2e. This figure includes Scope 1 emissions of about 8,371,000 kg CO2e, Scope 2 emissions of approximately 37,002,000 kg CO2e, and significant Scope 3 emissions totalling around 2,171,066,000 kg CO2e. Notably, the emissions from the use of sold products accounted for about 949,847,000 kg CO2e, while purchased goods and services contributed approximately 1,169,373,000 kg CO2e. Comparatively, in 2022, Lotte Wellfood's total emissions were about 47,056,000 kg CO2e, with Scope 1 at approximately 9,029,000 kg CO2e and Scope 2 at around 38,027,000 kg CO2e. The company has demonstrated a commitment to reducing greenhouse gas emissions, aiming for a reduction of over 35% by 2030 compared to 2018 levels, and achieving carbon neutrality by 2040. This target applies to both Scope 1 and Scope 2 emissions. Lotte Wellfood's emissions data is not cascaded from a parent company, indicating that the figures are independently reported. The company is actively engaged in climate initiatives, including participation in the CDP and RE100, reflecting its commitment to sustainability and responsible environmental practices.
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| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | 6,577,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 35,983,000 | 00,000,000 | 00,000,000 |
| Scope 3 | - | - | 0,000,000,000 |
How Carbon Intensive is Lotte Wellfood's Industry?
How Carbon Intensive is Lotte Wellfood's Location?
Lotte Wellfood's Scope 3 Categories Breakdown
Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 54% of Scope 3 emissions.
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Lotte Wellfood'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 Wellfood 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.
