S-Oil invests in startup developing safe water solution

S-Oil announced Monday that the company would secure certified emission reductions by helping a local startup specializing in developing solutions designed to improve access to safe water in developing countries.

S-Oil will purchase certified emission reductions of around 13,000 metric tons of carbon dioxide by investing in Glory & Tech, the South Korean firm that is currently providing water solutions to foreign nations including Bangladesh.

S-Oil said the latest decision is part of the company’s corporate social responsibility activities.

Meanwhile, S-Oil has been joining global efforts to reduce greenhouse gas emissions, it said. S-Oil, for instance, has introduced a self-developed energy monitoring system in its production lines in Ulsan and managed to reduce greenhouse gas emissions by 6 percent.

The refiner also slashed the proportion of high-sulfur heavy fuel Bunker C by using liquefied natural gas to curb greenhouse gas emissions, the company said.

By Shim Woo-hyun (ws@heraldcorp.com)