Baek Byung-yeul is a journalist at The Korea Times focused on cultural content, including films and cultural events in South Korea. You can contact him at baekby@koreatimes.co.kr to share your insights.
LG Innotek named top carbon management company for 2nd year
Park Yeong-su, center, head of the safety and environment division at LG Innotek, poses with officials from CDP Korea at an environmental award ceremony held at the Glad Yeouido hotel in Seoul, Wednesday. The non-profit organization gave LG Innotek a Leadership A rating for its superior climate change response. Courtesy of LG Innotek
By Baek Byung-yeul
LG Innotek achieved a Leadership A rating in a climate change response evaluation conducted by the global non-profit organization Carbon Disclosure Project (CDP), to be named the top carbon management company for two straight years, the company said Thursday.
CDP is a global project that requests information disclosure related to climate change issues for major global companies. The CDP evaluation, which is conducted simultaneously in 92 countries around the world, is considered one of the major global sustainability indicators along with the Dow Jones Sustainability Index (DJSI) and the FTSE4Good index.
The CDP evaluated 23,202 companies around the world to see their climate change response activities in 2023. Among the companies, only 346 companies or 1.5 percent of the total, received the Leadership A rating while only 10 Korean companies reach the milestone.
In 2022, LG Innotek announced to achieve carbon neutrality by 2040 and RE100 or achieving a goal of using 100 percent renewable electricity by 2030. Though it is a challenging goal, the company has established a dedicated carbon-neutral organization and has been strategically setting up policies to achieve them.
“The pace, which we are trying to achieve the goals, has been highly recognized in the process of achieving the CDP rating. Also, the active implementation of green technologies and product development received high scores in all categories,” the company said.
The company said it has been making various efforts in such areas as renewable energy conversion, energy efficiency improvement and improving its manufacturing process. In particular, the company is speeding up the acquisition of renewable energy to convert electricity, which accounts for a high proportion of greenhouse gas emissions, into renewable energy.
“Achieving the Leadership A rating and being selected as the top carbon management company shows that LG Innotek’s sincere ESG management has been recognized externally,” LG Innotek CEO Moon Hyuk-soo said. “We will continue to strengthen our global ESG leadership, the basis for creating differentiated customer value.”