LG Energy Solution Declares Support for TCFD, First in Battery Industry

Disclosure of Financial and Environmental Information Related to Climate Change

[Asia Economy Reporter Donghoon Jeong] LG Energy Solution has declared that it will transparently disclose various financial and environmental information to participate in global efforts to combat climate change.

On the 15th, LG Energy Solution announced that it became the first domestic battery company to declare support for the 'TCFD (Task Force on Climate-related Financial Disclosures)'.

TCFD is a task force established in 2015 by the Financial Stability Board at the G20 Finance Ministers and Central Bank Governors meeting. It recommends disclosure by setting standards for the content and methods so that stakeholders such as customers and investors can easily access and understand corporate information that may cause climate change (governance, strategy, risk management, target management, etc.).

Recently, as major countries in Europe and North America continue their eco-friendly policy trends and voices demanding stronger ESG management activities from customers and investors increase, more companies are enhancing customer value by declaring support for TCFD.

Major global asset management firms such as BlackRock also require investee companies to comply with TCFD recommendations, and as of the end of last year, about 4,200 major global companies have declared support. Among domestic battery companies, LG Energy Solution is the first to participate.

LG Energy Solution stated, "We will thoroughly manage climate change factors that may arise throughout the entire lifecycle from battery production to manufacturing, use, and disposal," adding, "We plan to further strengthen ESG (environment, social, governance) management activities by actively responding to global climate change."

Since joining RE100 in April 2021 as the first domestic battery company, LG Energy Solution has been expanding the use of renewable energy at its production facilities worldwide. In addition, it is continuing ESG management activities by joining RBA (Responsible Business Alliance) and RLI (Responsible Labor Initiative) as the first domestic battery company.

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