[Edaily Reporter KIM JUNG YOU ] AMOREPACIFIC CORPORATION(090430)has become the first private company in South Korea to complete a company-wide transition to renewable energy. By securing renewable energy through power purchase agreements (PPAs) and expanding solar power facilities on idle land, the company is widely regarded as having taken the lead in the energy transition within the domestic cosmetics (K-Beauty) industry.

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AMOREPACIFIC CORPORATION announced on the 30th that it has received official verification of its renewable energy transition achievements across all domestic and international facilities from The Climate Group, the operator of the global renewable energy initiative “RE100.”

Consequently, following its 2021 membership in RE100—a first for the K-Beauty industry—AMOREPACIFIC CORPORATION has now been officially recognized for achieving RE100 compliance as of last year.

As recently as 2020, AMOREPACIFIC CORPORATION’s overall renewable energy conversion rate stood at around 5%. From the early stages, when conditions for procuring renewable energy were insufficient, AMOREPACIFIC CORPORATION has been signing Direct Power Purchase Agreements (DPPAs) and Virtual Power Purchase Agreements (VPPAs). Additionally, by investing in unused land at all its facilities, the company has expanded its solar power capacity from 196 kW in 2011 to approximately 7,145 kW today.

Furthermore, AMOREPACIFIC CORPORATION recently received the highest rating in the assessment conducted by the Carbon Disclosure Project (CDP), a global environmental management evaluation organization, in categories such as climate change response, water resource management, and supply chain engagement.

Oliver Wilson, Head of RE100 at The Climate Group, stated, “Since joining RE100 in 2021, AMOREPACIFIC CORPORATION has made steady progress toward sourcing 100% renewable energy and has achieved meaningful results,” “This achievement demonstrates that renewable energy is central to the future energy system, and we will continue to work closely with AMOREPACIFIC CORPORATION to expand renewable energy and drive a sustainable transition in Korea,” he added.

Kwon Soon-cheol, Head of the Safety and Environment Division at AMOREPACIFIC CORPORATION, remarked, “Achieving RE100 is not an end but a new starting point,” adding, “We will continue to expand our procurement of high-additionality renewable energy, work with our partners to reduce carbon emissions across the entire supply chain, and lead the way in sustainable management.”