Vice Chairman Shin Hak-cheol, First Korean Business Leader to Present Climate Change Response Strategy at World Economic Forum (WEF)

[Asia Economy Reporter Hwang Yoon-joo] Vice Chairman Shin Hak-cheol is the only Korean business executive invited as a panelist at the World Economic Forum (WEF, also known as the 'Davos Forum') to present LG Chem's climate change response strategy.

Vice Chairman Shin Hak-cheol was invited to the 'Mobilizing Action on Climate Change' session at this year's World Economic Forum 'Davos Agenda Week (January 25?29)', held online.

In the session on the 27th, he will present LG Chem's three strategies for achieving carbon-neutral growth by 2050: Reduce (direct reduction) using CCUS (Carbon Capture Utilization Storage) technology, Avoid (indirect reduction) through the use of renewable energy, and Compensate (offset reduction) via forestation. He will also discuss international cooperation measures for climate change response.

In July last year, LG Chem became the first company in the domestic chemical industry to declare '2050 Carbon Neutral Growth' and is promoting RE100 across all its global sites. The company is focusing on discovering business models that can provide innovative and sustainable solutions for the environment and society, such as developing the world's first biodegradable new materials and the world's first commercial production of PCR (Post-consumer Recycled) 'White ABS.'

The session in which Vice Chairman Shin participates is especially meaningful as it addresses one of the World Economic Forum's most prioritized agendas. In this regard, the WEF has been publishing a separate report titled 'The Net-Zero Challenge' since last year.

Besides Vice Chairman Shin, the session panel includes Yuriko Koike, Governor of Tokyo, Christian Mumenthaler, CEO of Swiss Re Group, and Huang Runqiu, Minister of Ecology and Environment of China.

The session has attracted high interest from WEF members, with leaders from over 70 global companies already registered to attend. On the day of the presentation, it will be broadcast live via online streaming to 27 million followers worldwide on the WEF platform.

Vice Chairman Shin Hak-cheol stated, "Responding to climate change is a common challenge for humanity that can no longer be postponed, and global economic cooperation is essential. As the demand for carbon-neutral products from global customers continues to rise, we will make sustainability LG Chem's core competitiveness and continue to discover next-generation growth engines."