- Only the top 2% of 24,000 global companies receive the "Leadership A" grade.
- Active promotion of eco-friendly management activities toward achieving the goals of "2030 RE100" and "2040 Net Zero."
- Company-wide renewable electricity conversion at 60%, with some operations having already achieved RE100.
SEOUL, South Korea, May 15, 2025 /PRNewswire/ -- LG Innotek (CEO Moon Hyuksoo) announced that it has been awarded the 'Leadership A grade' in the 2024 Carbon Disclosure Project (CDP) Climate Change Response Assessments for the second consecutive year.
The CDP is a global initiative commissioned by major financial investment institutions to collect and assess environment-related information of major companies worldwide and provide relevant information to stakeholders through a public platform.
Conducted simultaneously in more than 130 countries around the world, the CDP assessment is recognized as one of the most reliable global sustainability assessments alongside the Dow Jones Sustainability Index (DJSI).
This year's climate change response category of the assessment included 24,836 companies worldwide. Only 424 companies, 2% of the total, received the 'Leadership A grade'.
LG Innotek was highly commended for its rapid implementation of tasks toward realizing its 'goals of achieving 100% renewable energy by 2030 (2030 RE100) and carbon neutrality by 2040 (2040 Net Zero)', led by a dedicated carbon neutrality team.
LG Innotek recognizes the gravity of climate change and has adopted climate change response as a top priority of its Environmental, Social, and Governance (ESG) management. To this end, the company has set the challenging 'goals of 2030 RE100 and 2040 Net Zero' and committed itself to the promotion of eco-friendly management activities.
The company is making multilateral efforts, including transitioning to renewable energy, increasing energy efficiency, and improving processes. It is putting all its efforts into converting electricity, which accounts for a high proportion of greenhouse gas emissions, into renewable energy.
It is expanding its use of renewable energy by acquiring a large-scale renewable energy supply chain primarily through Power Purchase Agreements (PPAs) and Virtual Power Purchase Agreements (VPPAs).
In the company's push to secure a stable renewable energy supply chain, it is engaging in a variety of activities, such as installing rooftop Photovoltaic (PV) systems at major domestic and overseas business operations and participating in the Green Premium Scheme.
As a result, LG Innotek has switched 638GWh of its electricity consumption, accounting for more than 60% of the electricity used by its domestic and overseas business operations in the past year alone, to renewable sources.
Through this, LG Innotek has achieved RE60 company-wide, and two of its domestic operations, in Paju and Gumi 1A, along with its operations in Vietnam, have already achieved RE100.
LG Innotek CEO Moon Hyuksoo said, "LG Innotek is focusing on genuine ESG management activities centered on climate change response." He added, "We will continue to create exceptional customer value through global ESG leadership."
[Glossary]
- Global initiative: a set of principles and guidelines, or a council that establishes them, aimed at inducing companies to act responsibly in terms of ESG management and pursue sustainable development.
- Carbon neutrality: effective reduction of carbon emissions by a company to "zero" by adopting countermeasures to remove as much carbon dioxide as it emits.
- RE100 (100% renewable electricity): conversion to 100% renewable electricity across all operations.
- Power purchase agreement (PPA): an agreement entered into by an electricity user to directly purchase power from a renewable energy supplier, with the agreement classified as "on-site PPA" or "off-site PPA" depending on whether the power generation facility is located inside or outside the place where the electricity is used.
- Virtual power purchase agreement (VPPA): an agreement where an electricity user purchases a renewable energy certificate (REC) from a renewable energy provider.
Logo - https://mma.prnewswire.com/media/2312913/logo__LG_Innotek_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/lg-innotek-earns-leadership-a-grade-for-second-year-in-a-row-in-cdps-global-climate-change-response-assessments-302456055.html
