LG Display has recently released its '2023 ESG Report,' presenting a comprehensive overview of its environmental, social, and governance (ESG) activities and accomplishments from the previous year.
This sustainability report represents a substantial update from previous years, aiming to encompass the company's ESG strategies, achievements, and future plans in a more extensive manner.
In the area of environmental responsibility, LG Display has shown its commitment to combating the climate crisis by targeting 'Net Zero' carbon emissions by 2050. To achieve this goal, the company has devised a roadmap to significantly reduce greenhouse gas emissions. By 2030, it aims to reduce emissions by 53 percent and by 2040, the target is a reduction of 67 percent, as compared to 2018 levels.
To meet these ambitious targets, LG Display has taken various measures to enhance its greenhouse gas reduction efforts and energy-saving initiatives. This includes the establishment of facilities that have successfully reduced greenhouse gas emissions during manufacturing by over 90 percent.
Furthermore, the company is actively expanding its utilization of new and renewable energy sources, prioritizing energy efficiency, and as a result, it achieved a notable reduction of 2.35 million tons in greenhouse gas emissions last year.
Additionally, LG Display has made strides in resource circulation, notably increasing the wastewater reuse rate to an impressive 174 percent through the implementation of an innovative wastewater reuse system.
The company has also made significant advancements in producing eco-friendly products and minimizing its environmental impact throughout the production process. This has been achieved through the redesign and unification of materials, making them more easily recyclable upon disposal.
As a result, LG Display now boasts an industry-leading waste recycling rate of approximately 80 percent. Moreover, the company has proactively replaced environmentally regulated substances with eco-friendly alternatives, further reducing its environmental footprint.
In the realm of governance, LG Display has taken steps to strengthen its corporate governance by introducing a new corporate governance charter and board guidelines, designed to enhance transparency and accountability.
Meanwhile, LG Display has adopted its new ESG slogan, ‘True Display for a Sustainable Future,’ to encourage all executives and employees to actively participate in ESG management and effectively spread its core ESG values across the entire company.
