LS Electric Joins RE100... Gu Ja-gyun "Realizing True Carbon Neutrality"

"100% Renewable Energy Transition by 2040"
Joined Just One Year After Last Year's Carbon Neutrality Declaration
Establishment of Renewable Energy Generation Facilities Within Workplaces

LS ELECTRIC announced on the 15th that it has joined RE100 (100% Renewable Energy Usage) for the first time in the domestic heavy electrical industry. The company declared that it will switch all its electricity to renewable energy by 2040.

RE100 is a global campaign launched in 2014, led by The Climate Group, a multinational non-profit organization, and the Carbon Disclosure Project (CDP).

The campaign's goal is to convert 100% of corporate electricity consumption to renewable energy such as solar and wind power. Each company must announce the target date by which it will achieve 100% renewable energy usage and have its progress verified by the CDP to join RE100.

Koo Ja-kyun, CEO and Chairman of LS Electric. [Photo by LS Electric]

Through joining RE100, LS ELECTRIC plans to increase its renewable energy transition rate to 60% by 2030 and 100% by 2040.

To achieve this, the company plans to actively utilize energy efficiency improvements at domestic and overseas business sites, expand the installation of solar power facilities, purchase RECs (Renewable Energy Certificates), and enter into PPAs (Power Purchase Agreements).

Gu Ja-kyun, Chairman of LS ELECTRIC, said, "This RE100 membership was pursued with a strong commitment to action beyond a formal declaration in the face of the global climate crisis," adding, "We will grow into a company loved and trusted by customers and society through achieving carbon neutrality."

LS Electric Cheongju Smart Factory exterior. [Photo by LS Electric]

Oli Wilson, RE100 representative, said, "We are very pleased that LS ELECTRIC, a leading smart energy company in South Korea, has joined the carbon neutrality movement," and added, "As interest in the RE100 initiative is increasing in Korea, LS ELECTRIC's membership will have a positive impact that can lead market changes."

Meanwhile, LS ELECTRIC established an ESG committee under the board of directors and a dedicated department in 2021, and last October announced ESG management based on carbon neutrality, presenting the vision of a "Sustainable Future with Green Energy Solution."

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