LG Electronics (LG) has taken a significant step towards sustainable practices by joining RE100 (Renewable Energy 100), a global initiative that encourages businesses to switch to 100 percent renewable energy for their electricity needs. This move reflects LG’s strong dedication to sustainability and its role as a responsible global corporation.
LG has solidified its plans to transition all its business sites to 100 percent renewable energy by 2050. The company aims to achieve this goal through a gradual increase in the utilization of renewable energy sources like solar and wind power. By 2030, LG plans to rely on renewable energy for 60 percent of its electricity consumption, followed by 90 percent by 2040, ultimately reaching the target of 100 percent by 2050.
To facilitate the shift to renewable energy, LG will implement various measures. This includes the installation of high-efficiency solar panels at its offices and manufacturing facilities to expand renewable energy generation and usage. Additionally, the company will acquire renewable energy certificates (RECs), enter into renewable energy power purchase agreements (PPAs), and contribute to the Korea Electric Power Corporation’s (KEPCO) green premium program in South Korea.
LG’s commitment to renewable energy is evident through its previous endeavors. Last year, the company signed a direct PPA with GS EPS, a Korean power generation company, to construct a solar power station equivalent to three soccer fields on the roof of LG Smart Park’s existing integrated production building in Changwon, South Korea. Solar panels have already been installed and have been powering select buildings since December.
Furthermore, LG has installed solar panels on rooftops across various global locations, 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.
LG had previously announced plans to accelerate its transition to renewable energy and achieve carbon neutrality. By adopting renewable energy sources, the company not only reduces indirect carbon emissions (scope 2) associated with power consumption but also aligns with its Zero Carbon 2030 pledge. This pledge aims to achieve net-zero carbon dioxide emissions (scope 1 and 2) by 2030.
Lee Sam-soo, the chief strategy officer at LG Electronics, expressed confidence in the company’s progress, stating, “Through continuous efforts and innovation, LG is well on its way to achieving its goals of transitioning to 100 percent renewable energy and becoming a carbon-neutral business. LG remains fully committed to realizing its ESG vision of creating a Better Life for All.”
