NAVER becomes first Korean internet company to join RE100, committed to boosting ESG initiatives

– NAVER takes the lead in operating in an environmentally responsible manner in line with its 2040 Carbon Negative Strategy, displaying a strong commitment to join global environmental initiatives

– NAVER participates in CDP and becomes the first Internet company in Korea to voluntarily run its Scope 3 broadcasts, with plans underway to join EV100

SEONGNAM, South Korea, August 21, 2022 /PRNewswire/ — NAVER Corporation (KRX: 035420) has become the first of Korea’s internet companies to join RE100, a global renewable energy initiative aimed at accelerating the shift to carbon-free power grids.

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

NAVER plans to initiate its Carbon Negative 2040 roadmap, established in 2021, to achieve RE100. NAVER’s largest source of greenhouse gas emissions, amounting to 99%, comes from the 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 to gradually reach 100% renewable energy by 2040 To this end, NAVER aims to increase electricity purchases through agreements, such as PPAs, and create action plans, such as building more renewable power plants in the office building and the IDC and the introduction of energy efficiency technologies.

In addition to RE100, NAVER plans 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 participating, 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 broadcasts, performing third-party verification to ensure greater accuracy.

“NAVER plans to reduce carbon emissions, including Scope 3 emissions, to reduce its impact on the environment, while continuing to join other key global environmental initiatives, such as EV100,” said Lim Dong-a, executive director of NAVER’s environmental program. “We will establish ourselves as Korea’s leading technology company that operates in an environmentally friendly manner comparable to other global technology giants.”

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About RE100

RE100 is a global initiative bringing together the world’s most influential companies committed to 100% renewable energy. Led by the international non-profit organization The Climate Group in partnership with CDP, the group achieves a total turnover of more than US$6.6 trillion and operates in a wide range of sectors. Together, they send a strong signal to policy makers and investors to accelerate the transition to a clean economy.

About the Climate Group

Climate Group is the engine of climate action. Quick. Our goal is a world with zero net carbon emissions by 2050, with greater prosperity for all. We focus on the systems with the highest emissions and where our networks have the greatest opportunity to drive change. We do this by building broad influential networks and holding organizations accountable, turning commitments into action. We share what we are doing together to show more organizations what they could do. We are an international non-profit organization, 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 Foundation for Renewable Energies

The CREF (Corporate Renewable Energy Foundation) is a non-profit association dedicated to supporting the 100% transition of companies to renewable energies. To tackle fossil fuel-based energy issues where corporations are the biggest contributor, CREF leads campaigns, policy recommendations and research, in addition to working with NGOs around the world. As a local RE100 campaign partner based on an agreement with The Climate Group, CREF helps Korean companies demonstrate global climate leadership based on their RE100 membership, political commitment and their advocacy efforts.

About CDP

The CDP is an international non-profit organization that requires companies to disclose their environmental information such as climate change mitigation plans on behalf of institutional investors around the world to better understand and assess environmental impact. of these companies. CDP is a globally recognized ESG rating agency with the Dow Jones Sustainability Index (DJSI) and Morgan Stanley Capital International (MSCI).

About the EV100

EV100 is a global initiative founded by “Climate Group”, a multinational non-profit organization based in Londonto convert transport vehicles owned or leased by companies into green vehicles by 2030 and build the 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 Korea’s No.1 search engine, NAVER, as well as other online services, such as LINE mobile messaging, Webtoon and Webnovel publishing, camera app SNOW video and the ZEPETO metaverse platform. NAVER recorded sales of KRW6,800,000,000,000 ($5.6 billion) in 2021 and pursues 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, the global PR agency of NAVER Corporation, at [email protected]

SOURCE Naver Corporation

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