Validation Confirms Soundness of LG’s Strategy to Use Science-based Targets to Achieve Goals Set by Paris Agreement
Submitted by LG Electronics USA, Inc.
SEOUL, South Korea, November 2, 2021 /CSRwire/ - LG Electronics’ strategy for cutting greenhouse gas (GHG) emissions from production to use by 2030 has been independently reviewed and validated by climate expert SBTi. This Science Based Targets Initiative validation confirms LG’s confidence in its strategy to reduce the total amount of direct GHG emissions in line with Business Ambition for 1.5°C, which LG committed to earlier this year.
LG is the first South Korean appliance manufacturer to earn the validation from SBTi, the global coalition organization co-founded by the Carbon Information Disclosure Project, United Nations Global Compact, World Resources Institute and World Wide Fund for Nature to promote science-based targets for reducing GHG emissions.
To achieve LG’s Zero Carbon 2030 pledge established in 2019, the company’s plan calls for reducing the total amount of direct greenhouse gas emissions in Scope 1 and targeting indirect greenhouse gases generated during the production process by 50 percent compared to 2017 standards in Scope 2. In Scope 3, LG expects to reduce GHG emissions up to 20 percent in the product use stage.
Under its newly unveiled Zero Negative Environmental Impact initiative, LG plans to establish more production sites that make a positive impact on the environment. To ensure that the company reaches its stretch goals for carbon neutrality and circular economy, LG intends to reduce the use of petrochemical-based plastics by introducing up to 600,000 tons of recycled plastic into its manufacturing process by 2030 and nearly double the recovery of electronic waste to 8 million tons by the same year.
LG’s environmental commitment was underscored at the 2021 Route to Net Zero: Asia hosted last month by Carbon Trust, the London-based business-led publicly funded organization founded 20 years ago to respond to climate change. The conference covered the many LG appliances that have earned the Carbon Trust Footprint Label and Water Footprint Certification for their effectiveness in reducing household carbon dioxide emissions and water use to minimize the products’ impact on the environment.
“As an industry leader, LG takes its responsibility as a good corporate citizen in the global community very seriously,” said Kim Joon-ho, executive vice president and head of LG Electronics’ Quality Management Center. “LG is firmly committed to realizing our carbon neutrality and net-zero science-based targets so that future generations will still be able to say that life’s good.”
About LG Electronics, Inc.
LG Electronics is a global innovator in technology and consumer electronics with a presence in almost every country and an international workforce of more than 75,000. LG’s four companies – Home Appliance & Air Solution, Home Entertainment, Vehicle component Solutions and Business Solutions – combined for global sales of over USD 56 billion in 2020. LG is a leading manufacturer of consumer and commercial products ranging from TVs, home appliances, air solutions, monitors, service robots, automotive components and its premium LG SIGNATURE and intelligent LG ThinQ brands are familiar names world over. Visit www.LGnewsroom.com for the latest news.
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LG Electronics USA, based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $55 billion global innovator in technology and manufacturing. In the United States, LG sells a wide range of innovative energy efficient home appliances, home entertainment products, mobile phones, commercial displays, air conditioning systems, solar energy solutions, LED lighting and vehicle components. LG’s focus on environmental sustainability and its “Life’s Good” marketing theme encompass how LG is dedicated to people’s happiness by exceeding expectations today and tomorrow.LG is a 2018 ENERGY STAR® Partner of the Year-Sustained Excellence. www.LG.com.
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