LG Display to Publish Sustainability Management Report on the 22nd
[Asia Economy Reporter Jeong Hyeon-jin] LG Display CEO Jeong Ho-young stated that the company will strengthen its business portfolio centered on OLED, expanding its product lineup in the large OLED sector and growing its POLED business into mobile products as well as small-to-medium-sized and automotive fields.
In LG Display's '2020-2021 Sustainability Management Report' published on the 22nd, CEO Jeong said, "Through strengthening the business portfolio centered on OLED, we will evolve and develop into a company that can provide value beyond customer expectations." Regarding the LCD business, he said, "We will lead the market with differentiated IT-focused products while also strengthening the commercial business."
LG Display has been publishing its Sustainability Management Report annually since 2012. This year's report, the 10th edition, covers a total of 11 core issues including ▲Sustainability management system ▲Product value innovation ▲Minimizing environmental impact ▲Safe workplace ▲Employee growth and happiness ▲Sustainable supply chain, detailing various activities and achievements.
In particular, the report emphasizes ESG (Environmental, Social, Governance) management and includes a separate 'ESG Factbook' section to facilitate easy access to performance and content. It also reflects global ESG disclosure guidelines such as the Task Force on Climate-related Financial Disclosures (TCFD) and the Sustainability Accounting Standards Board (SASB) in the United States.
According to the report, LG Display undertook activities to respond to the global climate crisis and minimize environmental impact, including reducing greenhouse gas emissions by 1 million tons compared to 2019, achieving a reused water usage rate of 197% relative to water intake, and attaining a 100% recycling rate of waste glass. As a result, LG Display was selected for the Carbon Management Honors Club by the Carbon Disclosure Project (CDP) for four consecutive years and recognized as an excellent water management company for three consecutive years up to last year.
In the social sector, LG Display implemented various initiatives such as establishing the Chief Safety and Environmental Officer (CSEO) position, executing four major safety management innovation measures to create a safe and healthy workplace, pursuing employee growth and happiness through diverse welfare and talent development programs, and practicing human rights management through due diligence and improvement efforts addressing human rights risks. In governance, the company established the ESG Committee and Internal Transactions Committee and joined global initiatives such as the United Nations Global Compact (UNGC), Responsible Business Alliance (RBA), and the Responsible Minerals Initiative (RMI) for responsible mineral sourcing and supply chain management.
CEO Jeong stated, "We will meet stakeholder expectations and enhance our contribution to society across all ESG areas, including business performance, environmental and social responsibility, and governance."
LG Display's '2020-2021 Sustainability Management Report' is published in four languages: Korean, English, Chinese, and Vietnamese, and can be accessed on LG Display's website.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
