Monday, October 2, 2023

LG Will Transition to 100% Renewable Energy By 2050


Consumer electronics powerhouse and technology innovator LG Electronics says it has formulated an ambitious plan to meet 100 percent of its energy needs through renewable sources by 2050.

LG Electronics has announced that it has aligned itself with the RE100, a global initiative advocating a switch to 100 percent renewable energy. The plan involves a gradual increase in its dependence on renewable electricity, with targets set at 60 percent by 2030, and 90 percent by 2040, reaching 100 percent by 2050.

“Through ongoing efforts and innovation, LG is well on its way to achieving its goals of converting to 100 percent renewable energy and becoming a carbon neutral business,” Lee Sam-soo, chief strategy officer at LG Electronics, said in a statement. “LG remains fully committed to realizing its ESG vision of creating a Better Life for All.”

The declaration spotlights LG Electronics’ ongoing dedication to environmental responsibility, further cementing its reputation as a conscientious global corporate citizen.

LG InstaView Kitchen Suite, courtesy

Key to LG’s transition to renewable energy will be the large-scale installation of high-efficiency solar panels across its offices and manufacturing facilities worldwide. The firm, which in 2022 reported global revenues exceeding ($61.5 billion) and employs more than 74,000 people, will also adopt strategies such as purchasing Renewable Energy Certificates (RECs) and signing renewable energy power purchase agreements. Within South Korea, LG will contribute to Korea Electric Power Corporation’s (KEPCO) green premium initiative.

LG forged an alliance last year with GS EPS, a Korean power generation company. Together, they aim to construct a solar power station by 2025 on the roof of LG Smart Park in Changwon, South Korea. Several solar panels from this project have already begun operation as of last December, supplementing the energy needs of some buildings. Similar solar panel installations have been completed at various LG locations, including its research and development complex in Seoul, South Korea, North American headquarters in New Jersey, Greater Noida office in India, and a home appliance factory in Thailand.

In line with its broad sustainability goals, LG Electronics has dedicated significant resources to minimizing indirect carbon emissions resulting from power usage. As part of its pledge named ‘Zero Carbon 2030,’ announced in 2019, LG intends to achieve net-zero emissions, including both direct and indirect emissions, by 2030.

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