LG Power Resolution Goals to Obtain RE100 in All International Manufacturing Websites by 2025

• The initiative was launched within the ESG Report 2021 printed at present
• The corporate to deal with “Carbon Unfavourable” after reaching carbon neutrality throughout the whole worth chain by 2050

SEOUL, South Korea, Aug. 2, 2022 /PRNewswire/ — LG Power Resolution (LGES; 373220) introduced its plan to attain RE100 in any respect of its international manufacturing websites by 2025.

In its ESG Report 2021, which was printed at present, the corporate said that it’ll full its conversion to RE100 throughout all its international battery manufacturing websites (in Korea, North America, Europe, China, and many others.), which implies they’ll run totally on renewable power.

RE100 is the acronym for “Renewable Electrical energy 100%,” a worldwide initiative for companies to transform the 100% of their power sources to renewable energies, equivalent to wind and photo voltaic.

In keeping with the RE100 2021 Annual Disclosure Report launched by worldwide non-profit, Local weather Group, and the Carbon Disclosure Undertaking (CDP), LGES international enterprise websites’ conversion fee to renewable power reached 33% in 2020, the best share among the many 14 home corporations dedicated to the RE100 initiative. The corporate now goals to spice up its conversion fee to exceed 60% by the top of this 12 months.

LGES additionally introduced a particular roadmap to efficiently full this mid- to long-term initiative and understand carbon neutrality, which facilities across the beforehand talked about objective for RE100.

The corporate first plans to attain RE100 at each international manufacturing website by 2025, with its non-manufacturing enterprise websites, equivalent to R&D facilities, to observe by 2030. By 2040, LGES intends to implement the bolstered model of carbon neutrality, which entails changing all power sources apart from electrical energy, together with fuels and fuel, to renewable power sources. By 2050, the corporate could have achieved carbon neutrality throughout the whole worth chain, from mining assets all the way in which as much as manufacturing the batteries, with its suppliers additionally reaching RE100 inside their very own companies.

“We’ll obtain RE100 throughout the whole worth chain by 2050 by monitoring our suppliers’ carbon emissions, endorsing their RE100 participation and inspiring their carbon discount campaigns,” mentioned LGES. “After that, we are going to actively pursue our objective of turning into ‘Carbon Unfavourable,’ changing carbon emissions to minus values.”

Within the lately printed ESG Report, LGES additionally launched its visions and accomplishments in 4 precedence duties for profitable ESG administration. These duties are as follows: 1) Past Carbon Neutrality, 2) Good Closed Loop, 3) Provide Chain Sustainability, 4) Range, Fairness, Inclusion.

First, the corporate goals to ascertain a good closed loop by reaching zero waste to landfill throughout all enterprise websites by 2023. To make this occur, LGES is creating varied applied sciences to correctly get rid of waste, with the objective of buying Landfill Zero certification for each enterprise website by the top of subsequent 12 months.

On this respect, China’s Nanjing LGESNJ Plant has already attained the best platinum ranking from Underwriters Laboratories (UL), the worldwide certification company. Additionally, the corporate’s Michigan plant (LGESMI) has been licensed as Landfill Zero for 5 consecutive years (since 2018) by the Nationwide Sanitation Basis (NSF), for its lower than 1% of the general landfill fee (waste despatched to landfill as a proportion of the waste generated).

Subsequent, LGES is committing its efforts to make sure the sustainability of provide chain by finishing up inspections and enchancment actions at its home and abroad enterprise websites, in addition to suppliers, in accordance with the Accountable Enterprise Alliance’s (RBA) Code of Conduct. By these efforts, the corporate particularly goals to stop the dangers related to labor, well being & security, setting, and enterprise ethics. In November 2021, LGES turned the primary Korean battery producer to hitch the RBA, a worldwide coalition devoted to sustainability in international provide chains.

Final, LGES will pursue an organizational tradition that takes into consideration variety, fairness, and inclusion. The corporate is placing efforts into establishing a tradition during which 1) all members respect one another with out participating in discrimination on ethnicity, nationality, gender, faith, or dysfunction, 2) all members are subjected to honest therapy, and three) mutual understanding and respect amongst all staff are current.

“LG Power Resolution has established a sharing tradition to create an setting during which excellent people from varied backgrounds can come collectively to create the most effective output and deal with key duties,” mentioned LGES.

The six key organizational tradition actions embrace: 1) reporting and assembly tradition targeted on key duties, 2) autonomous working tradition solely targeted on efficiency, 3) horizonal tradition with no titles hooked up, 4) optimistic tradition filled with gratitude and reward, 5) nice office tradition that cares for bodily and psychological wellness, and 6) sharing tradition that conveys love to 1’s neighbors.

As well as, the ESG Report 2021 highlights the ESG actions executed by not solely LGES’s staff in Korea and abroad, but additionally staff from the provider aspect. The report additionally bears which means because it was printed on 100% recycled papers utilizing soy ink.

“The battery, by nature, is intently associated to the idea of eco-friendliness, and is a key driver to sustainable life and a core trade of the long run,” mentioned Youngsoo Kwon, CEO of LG Power Resolution on his preface. “Going a step farther from carbon neutrality, we are going to pursue ‘Carbon Unfavourable’ as our final objective in all points of administration and commit our greatest efforts to exhibit our management in countering international local weather change.”

About LG Power Resolution

LG Power Resolution (KRX: 373220), a split-off from LG Chem, is a number one international producer of lithium-ion batteries for electrical autos, mobility, IT, and power storage programs. With 30 years of expertise in revolutionary battery expertise and intensive analysis and improvement (R&D), the corporate is the highest battery-related patent holder on the planet with over 24,000 patents. Its strong international community, which spans North America, Europe, Asia, and Australia, contains battery manufacturing services established by joint ventures with main automakers equivalent to Basic Motors, Stellantis N.V. and Hyundai Motor Group. On the forefront of inexperienced enterprise and sustainability, LG Power Resolution goals to attain carbon impartial operations by 2050, whereas embodying the worth of shared progress and selling various and inclusive company tradition. To be taught extra about LG Power Resolution’s concepts and improvements, go to https://www.lgensol.com.

SOURCE LG Power Resolution