LG Electronics "Following Carbon Neutrality, 100% Transition to Renewable Energy by 2050"

Presenting a Mid- to Long-Term Plan for Gradual Transition Considering Various National Situations
Implementing High-Efficiency Solar Installation, Power Generation, Renewable Energy Certificate Purchases, and Green Premium Contracts

Solar panels have been installed on the roof of LG Electronics' North America headquarters, completed in the first half of last year, to generate renewable energy.
[Photo by LG Electronics]

[Asia Economy Reporter Kim Heung-soon] LG Electronics has presented a mid- to long-term plan on the 18th to use 100% renewable energy at all domestic and overseas business sites by 2050, following its commitment to achieve carbon neutrality by 2030.

LG Electronics plans to gradually transition to renewable energy considering the circumstances of various countries. First, the North American corporation will switch to 100% renewable energy for production, logistics, and office energy use by the end of this year. By 2025, all overseas production corporations will use 100% renewable energy, converting 50% of the total electricity consumption at home and abroad to renewable energy.

In domestic business sites, the use of renewable energy will be gradually increased, aiming to achieve renewable energy transition rates of 60% and 90% by 2030 and 2040, respectively. By 2050, the goal is to use 100% renewable energy at all LG Electronics business sites.

LG Electronics stated that this plan was established to proactively respond to the carbon emission regulations being strengthened by countries worldwide and to align with the international community's trend toward renewable energy transition.

To achieve the goal of 100% renewable energy transition, various measures will be reviewed and applied, including ▲ renewable energy generation and use utilizing high-efficiency solar panels ▲ purchase of Renewable Energy Certificates (REC) ▲ Power Purchase Agreements (PPA) to buy electricity directly from renewable energy power producers ▲ and green premiums, which involve paying premium rates to Korea Electric Power Corporation to purchase electricity recognized as renewable energy use.

In fact, the Noida production corporation in India has introduced a 3.2 MW-class solar power generation facility. The energy used by the corporation is self-produced through the solar facility, and plans are in place to increase renewable energy use. Additionally, the project is being registered as a Clean Development Mechanism (CDM) project under the United Nations (UN), and procedures are underway to secure carbon emission credits.

The CDM project is a system where companies investing technology and capital in developing countries to reduce carbon emissions are granted carbon emission credits that can be used to achieve their carbon emission reduction targets. Carbon emission credits are reviewed, evaluated, and issued by the UN.

Previously, LG Electronics announced the 'Carbon Neutrality 2030' plan in 2019. This plan means reducing carbon emissions generated during the product production stage at global business sites by 50% compared to 2017 by 2030, expanding the use of renewable energy, and carrying out external carbon reduction activities to realize carbon neutrality.

Park Pyung-gu, Executive Vice President in charge of Safety and Environment at LG Electronics, said, "For a sustainable future, we will promote various measures such as renewable energy transition and carbon neutrality realization to expand positive environmental impacts and do our best so that everyone can enjoy a better life."

This content was produced with the assistance of AI translation services.