Why it matters: LG Electronics has joined RE100, a global initiative that promotes using 100 percent renewable electricity by businesses.
This marks a step forward in LG's sustainability goals and underscores its commitment to corporate responsibility.
The Key Points:
- LG Electronics aims to use 100 percent renewable energy in its business operations by 2050, with interim targets of 60 percent by 2030 and 90 percent by 2040.
- The company plans to diversify its renewable energy sources by installing high-efficiency solar panels at its facilities. It will also invest in renewable energy certificates (RECs) and power purchase agreements (PPAs).
- LG has already signed a PPA with GS EPS, a Korean power generation company, to build a solar power plant on the roof of LG Smart Park in Changwon, South Korea, by 2025.
- This move aligns with LG's previously announced Zero Carbon 2030 pledge to achieve net zero direct and indirect carbon dioxide emissions.
The Big Picture: LG's transition to renewable energy is part of its more critical sustainability and corporate responsibility strategy.
According to Lee Sam-soo, Chief Strategy Officer at LG Electronics, the company is working to become fully powered by renewable energy and achieve carbon neutrality in line with its ESG vision.