November 23, 2024

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Ryu Yul (right), president for corporate strategy and services at S-Oil, and Dirk Teichert, Control Union's regional manager for Asia, pose for a photo during an awarding ceremony held at the refiner's Seoul headquarters on Thursday. (S-Oil)

S-Oil announced Thursday that it has become the first refinery in South Korea to achieve three International Sustainability & Carbon Certification (ISCC) certificates: ISCC CORSIA, ISCC EU, and ISCC PLUS.

This certification, also known as the Carbon Offsetting and Reduction Scheme for International Aviation, formally qualifies the production of sustainable aviation fuel (SAF) in the international aviation sector.

The International Civil Aviation Organization (ICAO), a subsidiary body of the UN, has been conducting a pilot operation of CORSIA from 2021 to 2023 to curb greenhouse gas emissions within the international aviation industry. With 126 countries, including South Korea, participating voluntarily, the initiative is set to become mandatory by 2027 for all airlines globally.

With the latest certifications, S-Oil is set to be the first domestic company to produce SAF, which can reduce greenhouse gas emissions by approximately 90 percent compared to conventional jet fuel. S-Oil, leading by example, has been producing products by processing bio-raw materials like residue oil at its refining facilities since January.

"By obtaining the international certification for producing sustainable aviation fuel that meets CORSIA standards, S-Oil can substantially contribute to reducing greenhouse gas emissions in the aviation sector, as well as protecting land and preserving biodiversity through the use of bio-raw materials," Ryu Yul, president for corporate strategy and services at S-Oil, commented.

In addition to CORSIA, with the simultaneous acquisition of ISCC EU and ISCC Plus certifications, S-Oil expects to bolster the growth of the domestic biofuel industry and circular economy.

"This acquisition is the first step to transform into a clean energy supplier for sustainable growth, and we will strive to contribute to building a resource circulation structure by supplying biofuels and circular products in response to the global de-carbonization trend," Ryu said.

By Park Se-ra (serap1005@heraldcorp.com)
The Korea Herald