Berlin, Germany - The IFA 2023 in Berlin serves as a platform for LG Electronics to exhibit its alignment with Environmental, Social, and Governance (ESG) goals.
Why it matters:
The products and initiatives presented cater to rising demands for energy-efficient and sustainable technology, positioning LG within an expected $908.4 billion market for energy-efficient appliances by 2026.
The Key Points
- LG introduces the "Smart Cottage," a prefabricated unit that integrates 4-kilowatt solar panels and an air-source heat pump. The goal is to meet European energy conservation requirements and regulations.
- The company's "Net-Zero Vision House" features an energy storage system (ESS) that can adapt to different energy use scenarios, allowing excess energy to be stored and used.
- LG's ThinQ UP 2.0 system focuses on customization and upgradability, extending product lifecycles and reducing e-waste.
- Recycling initiatives include the Upcycling Workshop Zone, which showcases products made from recycled plastics, including the LG PuriCare™ AeroFurniture air purifier and Styler™ ShoeCase made from recycled plastics.
The Big Picture
The launch of LG's second generation SIGNATURE range of energy-efficient washer-dryers and Dual InstaView™ refrigerators aligns with the global trend towards energy-efficient home appliances.
By presenting a comprehensive range of products and systems that meet ESG criteria, LG aims to carve out a place for itself in markets increasingly driven by sustainability considerations.
It has developed a filter that reduces up to 98% of microplastic emissions from laundry cycles.
Future collaborations with ABB Smart Buildings and SMA aim to pre-install smart technology in homes, an attractive prospect for a quarter of Europeans surveyed.