Seoul, August 9, 2009- LG Electronics (LG) released its third annual Sustainability Report, covering the 2008 fiscal year. The consumer electronics and appliance company's report contains details of its progress in sustainable management and outlines future plans in areas covering the economy, society and environment.
LG's Sustainability Report was produced to inform and update it various stakeholders of the company's accomplishments and ongoing efforts to create a more sustainable business practice. An electronic version of the report will be available for download from LG Electronics' home page starting on August 19.
In producing this report, LG carried out extensive surveys, interviews and media analysis with stakeholders including customers, employees, academia, analysts, investors, consumer associations and NGOs. The report is divided into five categories comprising customer value enhancement, environment leadership reinforcement, responsible business partner practices, community engagement and employee value improvement. The report adheres to the international standard Global Reporting Initiative (GRI)'s G3 guidelines and was verified by Two Tomorrows, an international company that helps organizations adopt business sustainability practices.
"We will continue to explore new opportunities and growth engines, allowing us to become a leading multinational corporation that is both trusted and respected by its stakeholders through a deeper understanding of sustainability and its application to everyday management," said Yong Nam, Vice Chairman and CEO of LG Electronics, in the report.
To ensure that its sustainability efforts receive the highest priority from management, LG Electronics established a Corporate Sustainability Management Committee earlier this year. And to reinforce sustainable management practices throughout its business, LG holds quarterly Corporate Sustainability Management Council meetings with decision makers from various Korean and overseas departments including Strategy, Human Resources, Corporate Social Responsibility, Finance and Environment, among others.
A presentation on LG's sustainable business initiatives will be held for international analysts and investor organizations next month.
