LG Innotek Declares Carbon Neutrality by 2040... President Jeong Cheol-dong "Building a Sustainable Ecosystem"

100% Renewable Energy for Power by 2030
Expansion of Zero Waste Landfill Sites, Replacement of Work Vehicles with Zero-Emission Vehicles

[Asia Economy Reporter Park Sun-mi] LG Innotek is taking serious steps to achieve carbon neutrality by 2040.

LG Innotek recently held an ESG committee meeting and announced on the 16th that it has resolved the '2040 Carbon Neutrality Promotion Plan.' The move toward carbon neutrality comes from recognizing the severity of climate change and leading efforts to reduce greenhouse gases, thereby contributing to global climate change response initiatives. Carbon neutrality refers to implementing measures to remove as much carbon dioxide as a company emits, effectively reducing net emissions to zero.

The '2040 Carbon Neutrality Promotion Plan' includes annual targets and detailed strategies for achieving carbon neutrality. LG Innotek plans to switch all electricity used to renewable energy by 2030 and aims to achieve zero carbon emissions by 2040.

First, LG Innotek plans to source 100% of the electricity used at its global business sites from renewable energy by 2030. Electricity accounts for more than 90% of LG Innotek's greenhouse gas emissions. Therefore, covering electricity consumption with renewable energy is crucial for carbon neutrality.

To this end, domestic sites will expand the introduction of solar power generation facilities. Additionally, LG Innotek will utilize power purchase agreements (PPA) to buy electricity directly from renewable energy producers and the 'Green Premium' system, which involves paying an additional fee to Korea Electric Power Corporation to receive electricity generated from renewable sources.

In fact, the renewable energy electricity supplied to LG Innotek this year through the Green Premium amounts to a total of 192 GW (gigawatts), equivalent to the annual electricity consumption of approximately 65,000 households.

LG Innotek also plans to increase the use of renewable energy at overseas production facilities, including those in Vietnam. The company will actively utilize country-specific systems such as PPAs and renewable energy certificates, as well as rapidly introduce solar power generation facilities.

Alongside this, various activities to reduce carbon emissions will be actively implemented, such as expanding the 'Zero Waste Landfill' certification to domestic and overseas business sites to reduce carbon generated from landfill waste.

President Chung Cheol-dong stated, “We will actively expand investments and technology adoption to minimize environmental impact across all management activities and take the lead in building a sustainable ecosystem.” He added, “Through balanced ESG management practices covering environment, employees, and governance, we will enhance customer value.”

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