LG Innotek announced on March 13 that it has earned a Leadership A rating in the Carbon Disclosure Project's (CDP) 2023 Climate Change Response Assessment and has been recognized as a Best Carbon Management Company for the second consecutive year.
The CDP is a global project commissioned by financial investment institutions around the world to request disclosures from major companies around the world on their responses to climate change issues.
This year's CDP assessment covered 23,202 companies worldwide. Of these, 346 companies, just 1.5% of the total, received a Leadership A. Only 10 Korean companies made the list.
LG Innotek was praised for establishing a dedicated carbon neutrality organization, establishing systematic and strategic policies to achieve its goals such as "carbon neutrality by 2040 and RE100 by 2030," and quickly implementing them. The company also received high scores in all categories for actively implementing green technologies and product development.
In 2022, LG Innotek declared 'Carbon Neutrality by 2040' and 'Achieving RE100 by 2030'. Achieving RE100 by 2030 is a challenging goal that is 20 years ahead of the RE100 membership requirement.
To achieve this goal, LG Innotek is making various efforts, such as transitioning to renewable energy, improving energy efficiency, and improving processes. In particular, LG Innotek is accelerating its efforts to secure renewable energy to convert electricity, which accounts for a high proportion of greenhouse gas emissions, to renewable energy.
As part of this, LG Innotek signed a Renewable Energy Certificate (REC) purchase agreement with Brite Energy Partners (BEP), a domestic green energy investment management company, last year. The agreement covers 84 MW of solar power plant capacity, and LG Innotek will be recognized for using approximately 100 GWh of renewable energy each year for 20 years. The company also signed a direct power purchase agreement (PPA) with SK E&S, which will provide a stable supply of 10 MW of renewable energy per year for 20 years.
In addition, LG Innotek is actively expanding the use of renewable energy by installing 8 MW of solar power generation facilities at its domestic and overseas sites in Gumi, Paju, Gwangju, and Vietnam.
