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| LG Group Chairman Koo Kwang-mo / Korea Times file |
LG Group Chairman Koo Kwang-mo reiterated a group-wide commitment to developing clean tech, a technological basis to advance carbon neutrality by transitioning to renewables and recycling electronics goods waste, the firm said Wednesday.
The virtuous cycle is part of an environmental, social and governance (ESG) initiative, published for the first time in an LG Group-commissioned report.
The green drive is what the chairman sees as a key long-term sustainable growth strategy, in the midst of global uncertainties as illustrated by accelerating inflation, global supply chain disruptions and climate change issues.
"We will continue to foster and invest in clean tech to set a path that is both sustainable and reflective of the concerns of each and every stakeholder and the public at large," he said in the report.
The report outlines the goals and business achievements of the group's key affiliates including LG Electronics, LG Display, LG Innotek, LG Chem, LG Energy Solution, LG Household & Health Care, LG Uplus and LG CNS.
The report highlighted that the group's affiliates should place greater emphasis on becoming more responsible to enhance customer satisfaction for a sustainable future, as advanced by a series of efforts to make environmentally conscious choices.
The size of social contributions, donations and investments are on the rise too. The number of donations or investments made by LG affiliates in the form of social contributions came to 150.9 billion won last year, up 57.6 billion won from the year before.
A combined 980.1 billion won was drawn from LG Electronics, LG Display, LG Chem, LG Energy Solution, LG Uplus and LG CNS to operate funds set up to promote mutual growth with their small and medium-sized market players.
Ten of the group affiliates set up ESG committees last year. Over 30 percent of outside director positions were filled with women.
LG Group plans to publish ESG reports every year alongside ESG information disclosures to strengthen communication with stakeholders on its website.
The group will publish a report on climate change responses this year, including measures to lower carbon emissions.
