Global warming places life on earth in danger, posing a threat to fresh water, food, and energy supplies. Greenhouse gas (GHG) emissions are the primary cause of global warming. Carbon dioxide (CO2), methane (CH4), and nitrogen oxides (NOx) are GHGs produced by the combustion of oil, fossil fuels, and other sources.
The energy supply sector is one of the largest contributors to global greenhouse gas emissions, responsible for approximately 35% of total emissions. The Covid-19 pandemic impacted the energy demand in 2020, reducing global CO2 emissions by 5.2%. However, the rapid economic recovery in 2021 increased the energy demand. The biggest increase in CO2 emissions by sector in 2021 took place in electricity and heat production, where they jumped by more than 900 million tonnes CO2 equivalent, which accounted for 46% of the global increase in emissions.
Korea Electric Power Corp (KEPCO) is an integrated electric utility which generates, transmits, and distributes electricity. The company produces electricity using nuclear, thermal, renewable, and other sources. In 2020, the power company reported total GHG emissions of around 404.21 million tonnes CO2 equivalents (MtCO2eq), down 13.5% from 2019.
Scope 1, 2, and 3 emissions are the three categories of GHG emissions. Scope 1 emissions result from sources directly owned or controlled by the company, such as on - site electricity generation. Indirect GHG emissions during the production of purchased electricity, and steam, are referred to as Scope 2. Scope 3 emissions refer to the company's other indirect emissions beyond the company’s direct operations and occur in the company’s value chain, including upstream and downstream activities, such as product use, and business trips.
Scope 3 emissions account for most of KEPCO’s overall GHG emissions, accounting for 56.6% of total GHG emissions (228.6 MtCO2eq) in 2020. In 2020, the company's Scope 1 emissions (171.98 MtCO2eq) fell by 13%, and Scope 2 emissions (3.61 MtCO2eq) fell by 2%.
KEPCO, in partnership with the company’s six power generation subsidiaries, sets a target to reduce emissions by 80 MtCO2eq (37.9%) by 2030, relative to 2017 levels (211 MtCO2eq) under the Electric Power Group Companies ‘2030 Basic Plan for GHG Emissions Reduction’.
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