LG Electronics Accelerates ESG Management with E-Waste Collection and Greenhouse Gas Reduction (Comprehensive)

2030 Carbon Neutrality Vision Achievement Goal

[Image source=Yonhap News]

[Asia Economy Reporter Jin-ho Kim] LG Electronics is accelerating its ESG (Environmental, Social, and Governance) management. This is to achieve the 'Carbon Neutrality 2030' vision, which aims to practice carbon neutrality by 2030. The company is putting all its efforts into building a so-called decarbonized ecosystem throughout the entire product lifecycle, from production to collection.

According to LG Electronics' business report disclosed on the 17th, the amount collected and processed through the global waste electronics collection and processing program exceeded 1 million tons over three years from 2018 to 2020. In particular, in 2020, 410,000 tons were collected, which is about a 42% increase compared to 250,000 tons in 2018.

LG Electronics is also continuously expanding the countries and regions where it provides waste electronics collection and processing services. As of 2019, services were provided in 52 countries and 87 regions, which is an increase of one country and two regions compared to the previous year. For newly added regions, the company analyzes regulations and prepares response measures through consultations with the governments and industry organizations of the target countries. Domestically, waste electronics are collected and processed in an eco-friendly manner at recycling centers nationwide. In particular, LG Electronics faithfully fulfills the recycling obligations of waste electronic products in accordance with the Resource Circulation Act.

LG Electronics was recognized for these achievements by receiving the '2021 SMM Award' hosted by the U.S. Environmental Protection Agency (EPA), acknowledging its eco-friendly competitiveness. The company received the 'Gold Tier,' the highest award in the 'Tier' category that evaluates corporate recycling activities. LG Electronics explained that its active waste electronics collection activities and the entire process of delivering them to certified recycling companies had a positive environmental impact, which was highly evaluated.

In particular, LG Electronics is contributing to environmental conservation and the establishment of a resource-circulating society. It provides waste electronics collection and processing services optimized for the characteristics and requirements of regulatory regions and conducts research and development to improve recyclability from the product design stage.

Additionally, in line with the goal of achieving carbon neutrality by 2030, the company is actively working to reduce carbon emissions from the product manufacturing stage. According to the business report, the greenhouse gas emissions from domestic and overseas business sites last year amounted to 814,734 tCO2e (tons of CO2 equivalent), a 50% reduction compared to 2017. LG Electronics' business sites have shown a decreasing trend in greenhouse gas emissions for four consecutive years.

The company is also striving to reduce emissions through various activities such as expanding greenhouse gas reduction devices at business sites and introducing high-efficiency energy equipment. LG Electronics holds four green technology certifications for home appliances, TVs, and monitors under the government's 'Green Technology Certification' system, which grants certifications based on greenhouse gas reduction and energy efficiency.

Meanwhile, LG Electronics was selected as the 'Global No.1 Company in the Home Appliance Sector' for eight consecutive years in the 2021 Sustainability Management Index evaluation announced by Dow Jones. It also received an A grade in the environmental category in the 2021 ESG evaluation by the Korea Corporate Governance Service.

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