LG Chem Signs 'Partner ESG Support Project' Agreement with the Shared Growth Committee for the Third Consecutive Year
Application of Partner Code of Conduct and Partner ESG Evaluation Criteria
On the 21st, the Win-Win Growth Committee announced that it signed the '2023 Partner ESG (Environment, Social, Governance) Support Project Agreement' with LG Chem.
LG Chem, participating in the Win-Win Committee's partner ESG support project for three consecutive years, has adopted 'Supply Chain Sustainability Assessment and Management' as one of its key sustainability management strategies. Accordingly, it continuously supports the ESG management of its partners.
Additionally, LG Chem became the first domestic company to conduct a 'Life Cycle Assessment (LCA)' for all domestically produced products, calculating the product carbon footprint of major raw materials.
To enhance the effectiveness of the partner ESG support project, LG Chem decided to apply not only the Win-Win Committee's 'SME ESG Standard Guidelines' but also LG Chem's 'Partner Code of Conduct and Partner ESG Evaluation Criteria' together.
Small and medium-sized enterprises (SMEs) with excellent ESG compliance rates after consulting will receive the 'ESG Excellent SME Certificate' issued by the Win-Win Committee. Partner SMEs holding this certificate can obtain incentives such as preferential interest rates (Shinhan, KEB Hana, Kyongnam, Kookmin Banks), preferential treatment in overseas expansion support projects (KOTRA, KOICA), and environmental and energy consulting and technical support (Korea Institute of Energy Research, Korea Environmental Industry & Technology Institute).
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Park Chi-hyung, Director of Operations at the Win-Win Growth Committee, said, "The Win-Win Committee's partner ESG support project prioritizes reviewing the on-site opinions of large and small-medium enterprises, the policy demanders, to timely respond to rapidly changing carbon neutrality and supply chain due diligence issues," and added, "We hope this support project will be of practical help to LG Chem's sustainable supply chain management."
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