- Three companies cooperate to promote 'GHG Offset Scheme External Project'
- SK rent-a-car takes charge of the overall planning and operation of the project, including the introduction of EVs and the provision of reduction calculation solutions; SK telecom will support with business approval while RESERVE CARBON will carry out consulting and verification assistance
- They will contribute to achieving the mitigation target of the transportation sector in the ‘Nationally Determined Contribution’ by implementing the project for the next 10 years
- SK rent-a-car will provide practical benefits for mitigating GHG emissions, returning the emission rights to customers using the company's electric vehicles
- "As an eco-friendly mobility company, we will create social values particularly centered on electric vehicles"

SK rent-a-car (CEO: Hwang Il-moon) signed a business agreement with SK telecom (CEO: Yoo Young-sang) and RESERVE CARBON (CEO: Shin Kwang-soo) at SK rent-a-car headquarters in Jongno-gu, Seoul on the 7th to jointly implement the GHG Offset Scheme External Project.

'GHG emission right' is the allowance for companies to emit greenhouse gases in a year. 'GHG Offset Scheme External Project' is a business to reduce and absorb greenhouse gases outside the business sites of companies subject to the Emissions Trading Scheme. It is a system to offset or trade emissions, which is certified by the Ministry of Environment.

Upon this agreement, the three companies decided to promote the scheme together and closely collaborate in related tasks. SK rent-a-car will calculate the amount of GHG reduction for all electric vehicles operated by SK rent-a-car, including electric vehicles to be purchased in the future, and get certified for reduction performance, aiming to receive approval by 2023.

This project is all the more meaningful in that it responds to the increasingly severe climate crisis while creating social values. It is expected to contribute to achieving the reduction goal of the transportation sector in the 'Nationally Determined Contribution (NDC)' set by the government. As SK rent-a-car announced that it will convert about 210,000 vehicles to eco-friendly EVs by 2030, the GHG reduction performance generated through this project is projected to increase further.

For this project, SK rent-a-car will seamlessly implement the EV introduction plan during the project period and provide devices and operating solutions necessary for calculating the reduction amount. In particular, it plans to collect various data required to calculate GHG reductions, such as the operation and battery information of the vehicles, capitalizing on 'eSmartlink,' a comprehensive vehicle management solution for EVs.

As an allowance subject company with experience in registering and operating various GHG reduction projects, SK telecom will support the overall process, such as project approval and verification, utilizing the accumulated reduction project operation know-how. Based on its policy research and consulting expertise, it will assume the role of carrying out business advisory and verification support.

In particular, SK rent-a-car and SK telecom plan to return GHG emission rights generated through this project to customers who use SK rent-a-car's electric vehicles. Until now, it has been difficult for customers using EVs to directly feel the effect of GHG mitigation, but two companies are seeking concrete ways to bring practical benefits, such as discounts on rental fees to customers based on the amount of GHGs they have reduced.

"To strategically respond to the climate crisis and practice ESG management, we have decided to collaborate with partners that have expertise and know-how in GHG reduction projects," said an official from SK rent-a-car. "Going forward, we will make all our efforts to create social value around EV projects as a leader of the eco-friendly mobility market."

Meanwhile, SK rent-a-car previously promoted a GHG emission reduction project using EVs together with SK Telecom. The project was registered in January as the first reduction project officially approved by the Ministry of Land, Infrastructure and Transport. The two companies calculated the expected GHG reduction amount from internal combustion engine vehicles that are similar class to the electric cars by utilizing about 60 electric vehicles operated at SK rent-A-car's Jeju Billercar branch. As a result, it is found that the subject vehicles can reduce as much as 150 tons of GHG emissions a year.

[Picture 1] SK rent-a-car signed a business agreement with SK telecom and RESERVE CARBON at SK rent-a-car headquarters in Seoul on the 7th to jointly implement the GHG Offset Scheme Project. From the left, Lee Jun-ho in charge of ESG promotion at SK telecom, Kim Hyun-soo, head of the Mobility BM Development Lab at SK rent-a-car, and Shin Kwang-soo, CEO of RESERVE CARBON..

[Picture 2] SK rent-a-car signed a business agreement with SK telecom and RESERVE CARBON at SK rent-a-car headquarters in Seoul on the 7th to jointly implement the GHG Offset Scheme Project. From the left, Lee Jun-ho in charge of ESG promotion at SK telecom, Kim Hyun-soo, head of the Mobility BM Development Lab at SK rent-a-car, and Shin Kwang-soo, CEO of RESERVE CARBON..