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Seoul, South Korea – S-OIL has been awarded three green certifications under the International Sustainability & Carbon Certification (ISCC) system by CUC Germany. This milestone marks a significant stride towards sustainability and low-carbon product manufacturing.
The certifications, including ISCC CORSIA in the aviation sector, ISCC EU in alignment with the European Union’s Renewable Energy Directive, and ISCC PLUS for sustainable biomass and circular resource use, were all awarded to S-OIL at a ceremony held at its headquarters in Seoul on April 4.
This triumvirate of certifications represents not just an achievement for S-OIL but also a catalyst for the industry's sustainable transformation. ISCC CORSIA certifies S-OIL as the first Korean refiner to produce CORSIA eligible sustainable aviation fuel (SAF), paving the way for a substantial reduction in greenhouse gas emissions within the aviation industry. ISCC EU facilitates S-OIL's entry into the European biofuel market, ensuring compliance with EU renewable energy standards. Additionally, ISCC PLUS enables S-OIL to demonstrate its commitment to the circular economy, through the sustainable use of biomass and circular resources.
Stephan Baltin, ISCC Program Manager at CUC Germany comments: "The ISCC certification process is rigorous and comprehensive. It is designed to ensure that certified companies meet the highest standards of sustainability and environmental stewardship. For S-OIL, these certifications represent the commitment to a greener future and new growth and innovation opportunities as part of the global decarbonization trend. At Control Union, we believe that ISCC certification adds significant value to businesses by demonstrating their commitment to sustainability and enabling them to differentiate themselves in a competitive environment.”
S-OIL's acquisition of these certifications is timely, as the global push towards decarbonization gains momentum. With CORSIA set to become mandatory for all air carriers worldwide from 2027, and the demand for SAF expected to surge, S-OIL is already well positioned for the industry's transition to cleaner energy sources.
Yul Ryu, President for Corporate Strategy and Services at S-OIL said: "As S-OIL acquired the international certification to produce SAF that meets CORSIA requirements for the first time in Korea, it can contribute substantially to protecting land through the use of bio-based raw materials and conserving biodiversity, not to mention cutting GHG emissions in the aviation area. The latest acquisition of the certification is the first step toward S-OIL’s pivot to a clean energy supplier to achieve sustainable growth, and we’ll further strive to distribute biofuels and circular products that can contribute to building a resource circulation structure in order to align ourselves with the global decarbonization trend.”