LG Group on Sunday released its annual sustainability report focusing on environmental, social and governance initiatives across its subsidiaries, detailing progress in governance reforms and climate initiatives.
The 2024 report, titled “Responsible Business, Sustainable Future,” covers compliance and governance efforts at the conglomerate’s subsidiaries, including LG CNS and D&O, as well as major affiliates such as LG Electronics, LG Chem and LG Uplus.
LG said its key affiliates run compliance systems led by their boards and ESG committees to strengthen oversight.
On the environmental front, LG said it achieved meaningful progress in clean technology, one of three focuses of the group alongside artificial intelligence and biotechnology — referred to as the “ABC” strategy by the company.
LG affiliates generated 8.45 trillion won ($6.08 billion) in 2023 sales from businesses considered environmentally sustainable, including key battery materials such as cathode, electric vehicle parts, heating and cooling systems, heat pumps, smart factories, data centers, plastic recycling and blue hydrogen production. The figure excludes revenue from battery operations at LG Energy Solution.
LG said it will continue to assess climate-related risks across its operations, while advancing clean tech initiatives through low-carbon fuel adoption, enhanced process efficiency, renewable energy use and disaster responses.
The group also reported progress toward its 2050 carbon neutrality goal. Its seven largest emitters, including LG Electronics, LG Display, LG Innotek, LG Chem, LG Energy Solution, LG Household & Health Care, and LG Uplus, have cut greenhouse gas emissions to 17.03 million tons in 2023, down 19 percent from 2018 levels. LG aims to reduce emissions by 34 percent by 2030 and 52 percent by 2040. It pledged to increase renewable energy usage to 76 percent by 2030 and 100 percent by 2050.
sahn@heraldcorp.com
