LG Electronics (LG) has released its 2022-2023 Sustainability Report, detailing its achievements and strategies for its Better Life for All ESG vision to customers and stakeholders worldwide.
The company is focused on two major areas: ‘3Cs’ for the planet, encompassing carbon neutrality, circularity, and clean technology, and ‘3Ds’ for people, including design for all, a decent workplace, and diversity & inclusion.
Under the ‘3Cs,’ LG’s global sites recorded a total of 92.7 million tons of greenhouse gas emissions (direct and indirect) this year, a 22 million ton decrease from the previous year, aligning with its goal of achieving net-zero emissions by 2030. The company also achieved an 8.2 percent renewable energy conversion rate and joined the RE100 initiative, committing to 100 percent renewable energy use at its global business sites by 2050.
LG is actively reducing carbon emissions during the product use stage by incorporating highly efficient eco-friendly technologies. Last year, functional unit carbon emissions of major products decreased by 13.1 percent compared to 2020, and LG became the first South Korean appliance manufacturer to have its GHG emissions reduction target validated by the Science Based Targets initiative (SBTi).
In efforts to create a circular ecosystem, LG recovered 472,876 tons of electronic waste from 52 countries in the past year, contributing to a cumulative total of 3,992,768 tons since 2006. The company also utilized 32,987 tons of recycled plastics in its products, a 25 percent increase from the previous year, and recently received Zero Waste to Landfill (ZWTL) verification at its South Korean business sites.
Regarding the ‘3Ds,’ LG is actively working on accessibility by integrating voice recognition and guidance features into its major products and distributing braille stickers for LG home appliances. The company aims to expand the universal design concept to all its products in the future.
LG has been engaging with its Tier 1 suppliers to monitor their energy usage and carbon emissions, conducting third-party verifications. The company is also providing support through third-party ESG certification reviews to address ESG risks of suppliers based on international Responsible Business Alliance (RBA) standards.
The role of LG’s ESG Committee has been expanded to internalize ESG management, with the committee overseeing independence, diversity, and expertise guidelines for independent directors and the corporate governance charter.
The sustainability report, alongside the LG ESG Fact Book and the ESG Story Book, offers transparency into LG’s ESG management goals, activities, and performance. To access the report, visit www.lg.com/global/sustainability/reports.
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