NAVER Becomes Korea's First Internet Company to Join RE100, Committed to Drive ESG Initiatives

- NAVER takes initiative to operate its business in an environmentally friendly way following its 2040 Carbon Negative strategy, displaying strong commitment for joining global initiatives for the environment

- NAVER to participate in CDP and has become the first internet company in Korea to voluntarily manage its Scope 3 emissions, with plans underway to join EV100  

SEONGNAM, South Korea, Aug. 21, 2022 /PRNewswire/ -- NAVER Corporation (KRX: 035420) became the first among Korea's internet companies to join RE100, a global renewable energy initiative to accelerate change towards zero carbon electricity grids.

RE100 is a global initiative for businesses to convert 100% of their electricity sources to renewable energy, such as wind and solar. Joining RE100 is a significant step for NAVER as it shows greater commitment to be objectively recognized for its outstanding environmental management system through a global initiative, following its efforts back in 2020 to establish its own environmental management framework by announcing its '2040 Carbon Negative' strategy.

NAVER plans to initiate its 2040 Carbon Negative roadmap, established in 2021, to achieve RE100. The largest source of greenhouse gas emissions from NAVER, which amount to 99%, are from energy used in NAVER's office building and its IDC. By 2030, NAVER intends to convert 60% of all energy sources used in its office building and IDC to renewable energy sources and gradually achieve 100% renewable energy by 2040. To this end, NAVER aims to increase power purchases through agreements, such as PPA, and create action plans, such as building more renewable power plants in the office building and IDC and introducing energy efficiency technologies.

In addition to RE100, NAVER is planning to join various initiatives dedicated to the environment, a key segment of ESG. Towards the end of July last year, NAVER joined CDP , the world's largest ESG rating agency with approximately 13,000 companies from 91 countries in participation that is recognized as the most credible among global ESG rating agencies. NAVER is also the first internet company in Korea to voluntarily manage its Scope 3 emissions, conducting third-party verification to ensure higher accuracy.

"NAVER is making plans to reduce carbon emissions, including Scope 3 emissions, as a way to reduce its impact on the environment, while at the same time continuing to join other key global eco-friendly initiatives, such as EV100," said Lim Dong-a, the executive director of the environment program at NAVER. "We will establish ourselves as Korea's prime tech company that operates its business in an environmentally friendly way, comparable to that of other global tech giants." 

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About RE100

RE100 is a global initiative bringing together the world's most influential businesses committed to 100% renewable power. Led by international non-profit the Climate Group in partnership with CDP, the group has a total revenue of over US$6.6 trillion and operates in a diverse range of sectors. Together, they send a powerful signal to policymakers and investors to accelerate the transition to a clean economy.

About Climate Group

Climate Group drives climate action. Fast. Our goal is a world of net zero carbon emissions by 2050, with greater prosperity for all. We focus on systems with the highest emissions and where our networks have the greatest opportunity to drive change. We do this by building large and influential networks and holding organisations accountable, turning their commitments into action. We share what we achieve together to show more organisations what they could do. We are an international non-profit organisation, founded in 2004, with offices in London, New Delhi and New York. We are proud to be part of the We Mean Business coalition. Follow us on Twitter @ClimateGroup.

About CREF: Corporate Renewable Energy Foundation

CREF (Corporate Renewable Energy Foundation) is a non-profit organization dedicated to supporting businesses' 100% transition to renewable energy. To tackle fossil-fuel based energy problems where business is the biggest contributor, CREF conducts campaigns, policy recommendations and research, in addition to working with NGOs around the world. As a local campaign partner of RE100 based on an agreement with The Climate Group, CREF supports Korean companies to exhibit climate leadership globally based on their RE100 membership, policy engagement and advocacy efforts.

About CDP

CDP is an international non-profit organisation that requires companies to disclose their environmental information such as plans to mitigate climate change on behalf of institutional investors around the world to gain insight and evaluate the environmental impact of these companies. CDP is an ESG rating agency that is globally recognized along with the Dow Jones Sustainability Index (DJSI) and Morgan Stanley Capital International (MSCI).

About EV100

EV100 is a global initiative founded by 'Climate Group', a multinational non-profit organization based in London, to convert transportation vehicles owned or leased by companies into green vehicles by 2030 and build necessary charging stations.

About NAVER

Founded in 1999, NAVER is Korea's largest Internet company with hundreds of millions of users worldwide. As a global technology company, it operates the No.1 search engine in Korea, NAVER, as well as other online services, such as LINE mobile messenger, Webtoon and Webnovel publishing, SNOW video camera app and ZEPETO metaverse platform. NAVER recorded sales of KRW 6.8 trillion (USD 5.6 billion) in 2021 and is pursuing changes and innovations in technology platforms through continuous research and development of future technologies, such as artificial intelligence, robotics and mobility.

For media inquiries, please contact Weber Shandwick Korea, NAVER Corporation's global PR agency, at [email protected]

SOURCE Naver Corporation