LG Electronics (LG) has joined RE100 (Renewable Energy 100), a global initiative encouraging firms to use 100% renewable energy for all of their electrical needs. The decision to join the RE100 is just another demonstration of the company’s strong commitment to sustainability and fulfilling its duties as a global corporate citizen.
By 2050, the company intends to convert all of its corporate sites to 100 percent renewable energy. To achieve this aim, LG will progressively boost its use of renewable energy, including as solar and wind power, to 60 percent by 2030, 90 percent by 2040, and 100 percent by 2050.
Along with increasing renewable energy generation and usage through the installation of high-efficiency solar panels at LG offices and manufacturing facilities, the company will take a number of additional steps, including acquiring renewable energy certificates (RECs), signing renewable energy power purchase agreements (PPAs), and, in South Korea, paying the Korea Electric Power Corporation’s (KEPCO) green premium.
LG signed a direct PPA with GS EPS, a Korean power generation company, last year to build a solar power station the size of three soccer fields on the roof of the existing integrated production building at LG Smart Park in Changwon, South Korea, by 2025, as part of its ongoing efforts in this area. Since late December, some solar panels have been installed and have begun generating power for certain buildings.
Solar panels have been installed on the rooftops of several of the company’s offices around the world, including the LG Sciencepark R&D complex in Seoul, South Korea; the North American Headquarters campus in New Jersey, USA; LG India’s office building in Greater Noida, India; and the Rayong home appliance factory in Thailand.
Plans for LG’s accelerated shift to renewable energy and towards carbon neutrality were already in place. The company is lowering indirect carbon emissions (scope 2) caused by consuming electricity by switching to renewable energy. In 2019, LG made a commitment to achieve net-zero (direct and indirect) carbon dioxide emissions (scope 1 and 2) by 2030.
“Through ongoing efforts and innovation, LG is well on its way to achieving its goals of converting to 100 percent renewable energy and becoming a carbon neutral business,”
said Lee Sam-soo, chief strategy officer at LG Electronics.
“LG remains fully committed to realizing its ESG vision of creating a Better Life for All.”