LG Innotek Achieves Prestigious Leadership A Grade in CDP Assessment for Second Consecutive Year

LG Innotek's Commitment to a Sustainable Future

LG Innotek has firmly established its leadership in the global arena for climate change initiatives by receiving the esteemed 'Leadership A grade' in the 2024 Carbon Disclosure Project (CDP) Climate Change Response Assessments. Conducted by one of the most trustworthy global sustainability platforms, this year's evaluation included 24,836 companies from over 130 countries. Only 424 companies, constituting the top 2%, achieved this remarkable accolade.

CEO Moon Hyuksoo expressed immense pride in this achievement, emphasizing the company's ongoing commitment to environmental, social, and governance (ESG) management practices. LG Innotek's determination is highlighted in its ambitious goals: to achieve 100% renewable energy by 2030 (2030 RE100) and reach carbon neutrality by 2040 (2040 Net Zero).

These objectives were driven by a dedicated carbon neutrality team that is fostering an eco-friendly management approach. To achieve these goals, LG Innotek has implemented measures across operations to not only transition to renewable energy but also enhance energy efficiency. One of the most significant strategies involves converting existing electricity use—responsible for a considerable share of greenhouse gas emissions—into renewable sources.

To support these initiatives, the company has been proactive in acquiring renewable energy through agreements such as Power Purchase Agreements (PPAs) and Virtual Power Purchase Agreements (VPPAs). Such contracts ensure a stable and consistent supply of renewable energy, integral to the company’s sustainability roadmap. Additionally, LG Innotek has pioneered various other activities, including the installation of rooftop photovoltaic (PV) systems at critical sites both domestically and abroad, reinforcing its green commitments.

In the past year, LG Innotek has successfully shifted more than 638 GWh of its electricity consumption to renewable sources, which translates to over 60% of its total energy use across its global operations. Remarkably, its facilities in Paju and Gumi 1A within South Korea, along with another site in Vietnam, have already achieved the ambitious RE100 status.

The implications of this achievement resonate beyond mere acknowledgment, as LG Innotek’s leadership in environmental stewardship positions it favorably among investors and consumers increasingly prioritizing sustainability. This growing emphasis on ESG management is not just about improving corporate image; it represents a deep, intrinsic understanding that climate change poses a critical challenge for current and future generations.

Moon Hyuksoo noted, 'We are dedicated to true ESG management activities focused on responding to climate change. Our efforts will not only enhance our operational capability but also create exceptional value for our customers through our global ESG leadership.'

In conclusion, LG Innotek stands at the forefront of the battle against climate change, illustrating how a commitment to sustainability can lead to recognition on a global scale. As the company continues to develop innovative solutions aimed at reducing carbon emissions, LG Innotek sets a standard for other businesses to aspire to, proving that eco-friendly practices can accompany successful business operations.

The recognition from CDP is more than an award; it’s a testament to the promising future of renewable energy and the collective efforts of companies taking responsibility for their environmental impact, shaping a more sustainable world for all.