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LG first Korean company to join net zero global campaign
LG Electronics (LG) has announced its commitment to set targets to follow science-based targets with the goal of cutting greenhouse gas emissions (GHG) in the use phase of major LG products by 2030, making LG the first Korean company to participate in the net zero global campaign, Business Ambition for 1.5°C. The campaign, led by the Science Based Targets initiative (SBTi) with support of the CDP, United Nations Global Compact (UNGC), World Resources Institute (WRI) and World Wide Fund for Nature (WWF), has commitments of participation from nearly 700 global companies.
LG announced its Zero Carbon 2030 initiative in 2019, committing to reduce the total amount of direct carbon emissions and indirect emissions generated during the production process by 50 percent compared to the 2017 baseline. With its commitment to Business Ambition for 1.5°C, LG is setting a new target to also reduce GHG emissions generated during the use phase of products such as refrigerators, washing machines and residential air conditioners, a far greater challenge. In fact, LG’s report to the CDP this year showed that the use phase of major products accounted for more than 80 percent of its greenhouse gas emissions.
Science-based targets as promoted by SBTi are in line with the latest research and what is deemed necessary to meet the stretch goal of the Paris Agreement to limit global warming to 1.5 degrees Celsius. LG’s carbon emission reduction target to reduce emissions in the entire production process from production to use by 2030 will be reviewed and validated by SBTi based on scientific data.
“LG’s current activities are in line with our mid- to long-term ESG strategy to produce eco-friendly products and services for future generations,” said Kim Joon-ho, executive vice president and head of LG Electronics’ Quality Management Center. “LG is actively working on environmental solutions focusing on the themes of net zero and circular economy so that future generations can enjoy a better life and contribute to a better tomorrow.”
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