LG Energy Solution, First in Battery Industry to Join RE100 and EV100 Simultaneously

100% Renewable Energy Use in All Global Workplaces by 2030
100% Electric Vehicle Transition for Company-Owned and Leased Vehicles by 2030

[Asia Economy Reporter Hwang Yoon-joo] LG Energy Solution has become the first battery company worldwide to simultaneously join RE100 and EV100.

LG Energy Solution announced on the 16th that its applications to join RE100 and EV100 have been officially approved.

RE100 stands for "Renewable Electricity 100%" and is an international campaign aiming for companies to source 100% of their electricity consumption from renewable energy such as wind and solar power by 2050. It was launched in 2014 by the non-profit organization The Climate Group in collaboration with the CDP (Carbon Disclosure Project).

Currently, RE100 targets global companies consuming over 100 GWh of electricity annually, with 298 companies including Google, Apple, and GM participating. LG Energy Solution is the first Korean battery company to join.

With this participation, LG Energy Solution became the 300th member company, and the RE100 committee held a "300 moment" event in the UK to commemorate this milestone.

The requirement for joining RE100 is to transition to 100% renewable energy by 2050; however, as a leading eco-friendly energy company, LG Energy Solution has advanced this goal by 20 years, committing to switch 100% of the electricity used at all its global sites to renewable energy by 2030.

LG Energy Solution is already operating its factories in Poland and the United States using 100% renewable energy, and plans to convert 100% of electricity consumption to renewable energy by 2030 at its plants in Ochang, Korea, Nanjing, China, as well as at newly invested factories.

In addition, LG Energy Solution is the first global battery company to join EV100. EV100, run by the same organization, is a campaign to convert 100% of company-owned and leased vehicles under 3.5 tons and 50% of vehicles between 3.5 and 7.5 tons to eco-friendly vehicles by 2030.

As of January this year, 96 companies including HP, DHL, and IKEA have joined EV100, and this is the first time a Korean company has participated. This move reflects LG Energy Solution’s proactive response to global trends as an eco-friendly specialized company. Through joining RE100 and EV100, LG Energy Solution is accelerating its ESG management to become a company that not only manufactures batteries but also leaves a beautiful environment for future generations.

Recently, the need to participate in RE100 and EV100 has been growing due to expanded investments in renewable energy driven by eco-friendly policies in major European and North American countries, as well as increasing demands from customers and investors for climate change response.

According to NH Investment & Securities, approximately $300 billion to $400 billion, equivalent to 0.3?0.4% of the global GDP annually over the next five years, is expected to be invested in expanding renewable energy.

Kim Jong-hyun, CEO of LG Energy Solution, said, "Batteries are a key product that must play a central role in achieving carbon neutrality," adding, "As a leading environmental energy company, we will set an example in reducing carbon emissions in battery production and actively promote the spread of electric vehicles."