LG Energy Solution Publishes First ESG Report
[Asia Economy Reporter Yoonju Hwang] LG Energy Solution has published its first ESG (Environmental, Social, and Governance) report since its launch.
This ESG report includes the company's ESG achievements and vision as a leading eco-friendly energy company, such as the transition to RE100 and responsible supply chain management. Notably, to embody its commitment to ESG management from the report's production stage, recycled paper and soy-based ink were used, and the cover minimized the use of bright colors to create an eco-friendly image.
The 114-page ESG report consists of ▲a message from management and an introduction to ESG activities ▲ESG vision, eight key focus areas, and four Enablers (foundations for promoting ESG focus areas) ▲details on board composition, R&D investment, information security, ethical management, and risk management activities.
LG Energy Solution incorporated various indicators and global standards to enhance the reliability of its disclosures.
In addition to the Global Reporting Initiative (GRI) standards for sustainability management reporting, the company expanded its reflection of global ESG disclosure guidelines such as the U.S. Value Reporting Foundation's Sustainability Accounting Standards Board (VRF SASB) and the Task Force on Climate-related Financial Disclosures (TCFD). It also documented progress linked to the United Nations Sustainable Development Goals (UN SDGs) indicators. Furthermore, to ensure objectivity and transparency, third-party independent verification was conducted according to the international assurance standard (AA1000AS v3).
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Kim Jonghyun, President of LG Energy Solution, stated in the foreword, "In a rapidly changing global business environment, we aim to pursue ESG management to sustain ourselves as a 'valuable company.' We will make this year the inaugural year of ESG at LG Energy Solution and build ESG competitiveness that exceeds the expectations of the market and customers."
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