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KT makes green pledge, sees growth opportunity

Tony Chan | April 22, 2008 | 0 Comments

Korea Telecom revealed a three-stage green management roadmap that will drive sustainability at the corporate level as well as explore growth opportunities with green solutions and renewable energy generation by 2012.

According to the Korea Times newspaper, KT’s will adopt sustainability measures, raise awareness, secure eco-friendly technologies and adapt of international accords on climate change in 2008, followed by expansion of those efforts, securing budgets for green businesses and propagation of green management practices to partner firms in 2010.

By 2012, KT aims to be developing profitable green business models and introducing a corporate finance system based on sustainability.
“We have a social responsibility of adopting environment-friendly policies. But we are also preparing for it as a business opportunity.” Lee Woo-moon, director of KT’s assets planning department, told the newspaper.

The report estimates that KT consumes about half a percent of the country’s entire power production annually, or equivalent to an electricity bill of 140 billion won (US$142 million). So far, KT has invested about 10 billion won in adopting eco-friendly or energy efficient equipment, which has resulted in a tax rebate of about 1 billion won from the government, the report said.

“Korea will be included in the Kyoto Protocol in 2009, so if we are not ready for it, we will be in a very difficult situation,” Lee said, adding that KT has already conducted internal research on its green status and is in the process of trying to join the Dow Jones Sustainability Index this year.

In addition to selling green products and solutions, KT is also looking to explore the use of its land and building sites for renewable energy generation. As the incumbent telco, KT owns real estate and land all over the country with a book value of 7 trillion won, the report said.