Press release
1MB
september 26, 2022 - LG Electronics
Finding Ways to Become an ESG Leader of Tomorrow
Environment, social and governance (ESG) considerations play increasingly crucial roles in a company’s prospects and viability. Key stakeholders, including consumers, investors, regulators and non-government organizations, are demanding that companies incorporate ESG factors into nearly every aspect of their business strategy and operations, from procurement and manufacturing through to product development and hiring.
As a global leader in information technology with 30 production sites worldwide, #lgelectronics has recognized that for ESG management to be effective it needs to be integrated into a company’s day-to-day operations.
In 2018, the company outlined its strategic direction for ESG management based on standards required by the international community, which reflected the Sustainable Development Goals established by the United Nations. After reviewing its ESG performance over the previous three years, the company established a new direction for its ESG program and, in 2022, launched The Better Life Plan 2030.
The Better Life Plan 2030 includes six ESG commitments, three of which aim to significantly improve the company’s environmental performance by reducing its greenhouse gas (GHG) emissions and increasing the use of recycled materials in its products. For example, LG has committed to becoming carbon neutral by 2030 by reducing emissions generated from its production processes. To achieve this, the company plans to reduce by 50 percent the 1.93 million tons of carbon dioxide equivalent (tCO2e) generated in 2017 by creating more energy-efficient facilities and adopting emission reduction technologies.
To support its carbon-neutrality goals, the company has transformed its factory complex, in Changwon, South Korea, into a futuristic manufacturing hub for its home appliances line. Renamed the LG Smart Park, the complex uses a digitally enabled 3D logistics system, advanced edge computing and machine learning analytics to predict defects, and state-of-the-art facilities to produce multiple models that respond to customer requirements.
Further information in the press release to download
Nature 05-600x287
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Nature 04
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Nature 03-600x400
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LG-Smart-Park-600x405
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