Amorepacific has been awarded a Presidential Citation for its contributions to the transition to renewable energy and the activation of the domestic renewable energy procurement market. The company was recognized not only for its own power transition but also for introducing new procurement methods and sharing practical experiences.
On October 23, Amorepacific announced that it received the Presidential Citation for its contributions to the development of the renewable energy industry during the '2026 Renewable Energy Day' ceremony held at COEX in Gangnam, Seoul. It was the only organization among four recipients to receive the award.
The event, hosted by the Ministry of Climate, Energy and Environment and co-organized by the Korea Energy Agency and the Korea Renewable Energy Association, marked the first official ceremony held by the government since Renewable Energy Day was designated as a legal commemorative day. The government awarded 12 government prizes and 51 ministerial commendations to individuals who contributed to the development of renewable energy technology and its expansion.
Amorepacific became the first beauty company in South Korea to join the global RE100 initiative in 2021. RE100 is an international campaign aimed at sourcing 100% renewable energy for corporate electricity use. The company increased its share of renewable energy from 5% in 2020 to complete its transition to renewable energy across all operations last year. In June of this year, it was recognized as the first private company in South Korea to achieve global RE100 status after verification of its transition performance by The Climate Group, the organization overseeing RE100.
The company procured renewable energy through various methods, including solar self-generation, direct and indirect power purchase agreements (PPAs), virtual power purchase agreements (VPPAs), green premiums, and the purchase of renewable energy certificates. It has expanded solar installations in unused spaces at its facilities, supplying about 10% of its total electricity consumption through self-generation.
In 2022, Amorepacific became the first in the country to sign direct PPAs and VPPAs. The company was also recognized for sharing its accumulated practical experience in settlement and power trading during the contracting process with the government and public institutions. It has been pursuing procurement methods that share market price fluctuation risks with power producers through long-term VPPAs to expand renewable energy supply.
Kwon Soon-cheol, Senior Vice President of Amorepacific's Safety and Environment Division, stated, "We will use the achievement of RE100 as a new starting point to continuously expand procurement methods that can practically contribute to the expansion of renewable energy supply and work with our partners to reduce carbon emissions across the entire supply chain."
Meanwhile, Amorepacific aims to enhance its digital competitiveness and expand the overseas market presence of its various brands. The company targets achieving 15 trillion won in group revenue by 2035 through global expansion in dermo-beauty, clinical skincare, and hair care.
* This article has been translated by AI.
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