April 04, 2024 [Korea Times]- S-Oil will be able to produce sustainable aviation fuel (SAF) for international aviation for the first time in Korea, after the refiner acquired three green certifications on sustainable and low-carbon products, the company said Thursday.
The certifications include the International Sustainability & Carbon Certification (ISCC) Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), the ISCC EU and the ISCC PLUS.
The achievement allows the refiner to expand its eco-friendly fuel product supplies in line with the global trend for carbon neutrality.
“As S-Oil acquired the international certification to produce SAF that meets CORSIA requirements for the first time in Korea, it can contribute substantially to protecting land through the use of bio-based raw materials and conserving biodiversity, not to mention cutting greenhouse gas emissions in the aviation area,” Ryu Yul, president for corporate strategy and services at S-Oil, said.
“The latest acquisition of the certification is the first step toward S-Oil’s pivot to a clean energy supplier to achieve sustainable growth, and we will further strive to distribute biofuels and circular products that can contribute to building a resource circulation structure in order to align ourselves with the global decarbonization trend.”
In particular, The ISCC CORSIA certification is expected to enable S-Oil to produce CORSIA-certified SAF for the first time here. Since January, the refiner has incorporated bio-based raw materials — such as waste cooking oil and palm byproducts into its refining processes to produce fuel products, according to the company.
The latest achievement will set the stage for S-Oil to produce SAF which can slash greenhouse gas emissions by roughly 90 percent, compared with conventional jet fuels, it said.
S-Oil also spoke highly of the acquisition of the other two certifications, which the refiner said will serve as an opportunity to help vitalize the biofuel industry.
The ISCC EU is a certification that any firms should acquire to export biofuels in the European market. S-Oil is projected to effectively expand its fuel business there after the latest feat.
The ISCC PLUS is a voluntary certification system for the use of sustainable biomass and circular resources. The company plans to spur the production of circular materials through the ISCC PLUS acquisition.
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