TechDogs-"Amorepacific Wins RE100 Leadership Award"

Retail Technology

Amorepacific Wins RE100 Leadership Award

By PR Newswire

PR Newswire
Overall Rating

Announced winner of 'Market Trailblazer' category for achievements in transitioning to renewable energy and driving market change

SEOUL, South Korea, Sept. 20, 2023 /PRNewswire/ -- Amorepacific, Korea's leading beauty company, was announced the winner of the 'Market Trailblazer' accolade at the RE100 Leadership Awards held on September 19th at the Climate Week NYC 2023.

The RE100 Leadership Awards is organized by The Climate Group, a non-profit foundation that actively promotes the use of renewable energy among companies and governments in partnership with CDP. Since 2020, this award has been given to recognize the efforts and achievements of companies leading the charge in transitioning to renewable energy.

The award's Market Trailblazer category is presented to companies that 'drive market changes, communicate transparently about the challenges and solutions related to transitioning to renewable energy, and collaborate with various stakeholders to lead the change.'

Amorepacific became the first in the Korean beauty industry to join RE100 in 2021. It established a roadmap to convert 100% to renewable energy across all its business locations by 2025. The company has been actively implementing its transition to renewable energy through various means. In March 2022, it became the first in Korea to enter into a direct renewable energy power purchase agreement (PPA)[1]. In September 2022, it also concluded a third-party PPA. In November 2022, it inked Korea's first-ever virtual power purchase agreement (VPPA)[2] with Bukchon Seomo Wind, a local renewable energy firm based in a village on Jeju Island, to transition to renewable energy while coexisting with local communities.

Amorepacific's Osan Beauty Park, which manufactures the company's key brands, including Sulwhasoo and Laneige, operates a 2.6MW solar power generation facility, creating and using its renewable energy. Through PPAs and green tariff schemes, they have been manufacturing products using 100% renewable electricity since 2022.

The company commented, "We will continue to address the global climate crisis faced by humanity and carry on our efforts to coexist with nature through our sustainable management goal, 'A MORE Beautiful Promise.'"

[1] PPA (Power Purchase Agreement): A direct electricity trading contract, an agreement where an electricity supplier and a company in need purchase power directly from each other.

[2] VPPA (Virtual Power Purchase Agreement): A virtual power contract, an agreement in which a company assumes the market risk related to selling electricity from a power plant and trades energy certificates.

View original content to download multimedia:

SOURCE Amorepacific

First published on Wed, Sep 20, 2023

Liked what you read? That’s only the tip of the tech iceberg!

Explore our vast collection of tech articles including introductory guides, product reviews, trends and more, stay up to date with the latest news, relish thought-provoking interviews and the hottest AI blogs, and tickle your funny bone with hilarious tech memes!

Plus, get access to branded insights from industry-leading global brands through informative white papers, engaging case studies, in-depth reports, enlightening videos and exciting events and webinars.

Dive into TechDogs' treasure trove today and Know Your World of technology like never before!

Disclaimer - Reference to any specific product, software or entity does not constitute an endorsement or recommendation by TechDogs nor should any data or content published be relied upon. The views expressed by TechDogs’ members and guests are their own and their appearance on our site does not imply an endorsement of them or any entity they represent. Views and opinions expressed by TechDogs’ Authors are those of the Authors and do not necessarily reflect the view of TechDogs or any of its officials. All information / content found on TechDogs’ site may not necessarily be reviewed by individuals with the expertise to validate its completeness, accuracy and reliability.


Amorepacific Beauty Company Renewable Energy Manufacturing Products Market Trailblazer


Join The Discussion

  • Dark
  • Light