Publishes a Roadmap for Net Zero
LG Group has published the "LG Net Zero Special Report," disclosing the step-by-step greenhouse gas emission reduction plans and targets of its seven key subsidiaries that account for 99 percent of the group's emissions.
The seven affiliates are LG Electronics, LG Display, LG Innotek, LG Chem, LG Energy Solution, LG Household & Health Care, and LG Uplus.
The report, published on Feb. 5, lays the foundation for the realization of carbon neutrality for LG Group. It also represents the first step in implementing LG Group’s ESG strategy, which was unveiled through a group-level ESG report last year.
The group has made climate change response a top priority in its ESG management. The Net Zero Report sketches out an integrated roadmap for carbon neutrality by presenting the different goals and action plans of the seven affiliates coherently.
LG Group aims to reduce carbon emissions directly generated from the production processes or use of fuel by its affiliates (Scope 1) and indirectly generated from the use of electricity (Scope 2) by 27 percent in 2030 and by 62 percent in 2040 compared to 2018.
LG Group plans to elevate the use of renewable energy such as solar and wind power to 54 percent in 2025, 83 percent in 2030, 94 percent in 2040, and 100 percent in 2050. In order to directly slash greenhouse gas emissions, it will promote reduction activities such as improving energy efficiency, recovering and using waste heat, and replacing fossil fuels with biofuels. In addition, about 3.4 trillion won will be invested by 2030 in the development of new technologies for carbon reduction, such as blue hydrogen and green hydrogen technologies.