LG Chem focuses on maximizing social, environmental values

LG Chem has focused on activities to maximize social and environmental values in education, ecosystem, economy and energy sectors, since the chemical firm declared its Green Connector vision in August 2020.

To nurture future talent for management positions so that they can be responsible for environmental, social and corporate governance (ESG) principles implementation, LG Chem has run the Like Green program, which won an award from the Ministry of Education. The program seeks to go global in collaboration with U.N. Global Compact Network Korea.

Through the program, the chemical firm has created the opportunity for teenagers nationwide to learn about environmental issues from university students online. The teenagers and the university students have also uploaded video clips on YouTube to present what they discussed.

In addition, the company has enabled the public to attend lectures every month from ESG experts.

For the protection of biodiversity, LG Chem has provided educational materials for children and teenagers, while opening an exhibition room on Mapo Bridge to raise awareness about the importance of Bamseom Islet, which is designated as a Ramsar site.

The company also afforested the coast of Yeosu, South Jeolla Province, to preserve the marine ecosystem and reduce carbon emissions.

Regarding its support for social enterprises, LG Chem lent around 11.2 billion won ($8.3 million) to 260 social enterprises, so that they can better cope with climate and environmental issues.

In the energy sector, it signed a memorandum of understanding with the Seoul Metropolitan Government and the Community Chest of Korea in 2015 to build a solar power plant on the city-owned land and share profits from the plant with teenagers and vulnerable social groups.

According to LG Chem, the power plant can generate 3.56 million kWh of electricity annually and reduce 1,660 tons of carbon emissions. (Advertorial)