LG Innotek joins RE100

LG Innotek headquarters in Seoul / Courtesy of LG Innotek

By Kim Jae-heun

LG Innotek said Tuesday its application to join the global “RE100” initiative has been finally approved. LG Innotek is a leading global electronic component manufacturing company.

RE100 is an international campaign aimed at converting 100 percent of the electricity used by companies into renewable energy by 2050. A British non-profit organization, The Climate Group and the Carbon Disclosure Project (CDP) jointly launched this project in 2014.

Companies that consume more than 100 gigawatt-hour (GWh) of electricity per year are eligible to apply for the RE100 initiative.

So far, 370 global companies including Google and Apple joined. In Korea, 20 firms including SK Hynix, LG Energy Solution and Hyundai Kia Motors are registered as members as of now.

LG Innotek plans to use only renewable energy at its work sites in and outside of the country by 2030. It is promoting various energy-saving activities such as adopting high-efficiency facilities and recycling waste heat that is generated during the production process to achieve its goal.

In addition, LG Innotek will also utilize a Green Premium system to receive electricity produced with renewable energy by paying an additional fee to the Korea Electric Power Corp. (KEPCO). It plans to receive 192 GWh, which is one-third of the annual electricity consumption of its domestic business, through a Green Premium this year.

“With the joining of RE100, LG Innotek will become an eco-friendly leader in the local industry that sincerely respond to the climate crisis. It will also make a company-wide effort to create a sustainable future by making environmental, social, and corporate governance (ESG) management sound,” LG Innotek CEO Jeong Cheol-dong said.