LG Innotek Focused on 'ESG Management', Selected as CDP Excellent Company for 3 Consecutive Years

[Asia Economy Reporter Lee Hyeyoung] LG Innotek announced on the 28th that it was selected as an outstanding company for three consecutive years at the '2021 CDP Korea Climate Change Response and Water Management Excellence Awards' hosted by the CDP (Carbon Disclosure Project) Korea Committee.

LG Innotek received the 'Carbon Management Sector Honors' in the IT sector for climate change response evaluation and the 'Grand Prize' in the water management evaluation. LG Innotek has been selected as an outstanding company in the CDP climate change response category for three consecutive years since 2019, and notably, it has won awards in the water management category for five consecutive years.

CDP is a global non-profit organization project that evaluates efforts of major listed companies worldwide in climate change response and water resource management, and discloses the results annually to investors and financial institutions. CDP evaluation results are among the most trusted global sustainability indicators worldwide, alongside the Dow Jones Sustainability Index (DJSI) and the FTSE4Good Global Social Responsibility Investment Index.

This CDP evaluation was conducted on 13,126 companies worldwide in the climate change response sector and 3,368 companies in the water management sector, respectively.

LG Innotek has designated 2021 as the inaugural year of ESG (Environmental, Social, and Governance) management, establishing a new ESG vision system and operating the ESG Committee, the highest deliberative body within the board of directors.

In particular, LG Innotek has carried out various eco-friendly management activities aimed at 'Zero Environmental Impact' in the environmental field, focusing on reducing greenhouse gases and saving water resources. A representative achievement is the reduction of energy costs by more than 5 billion KRW in 2020 through the expansion of renewable energy adoption such as solar power and waste heat steam, as well as the introduction of high-efficiency production facilities. In the same year, greenhouse gas emissions were reduced by 11% compared to 2019, with a total reduction amounting to approximately 45,000 tons.

Since last year, LG Innotek has also started participating in Korea Electric Power Corporation's Green Premium System (a system where companies pay an additional fee to use electricity produced from renewable energy and receive a certificate confirming renewable energy usage). Additionally, through systematic management such as expanding investment in water recycling facilities and managing water usage per unit, water consumption in 2020 was reduced by nearly 7% compared to 2019.

Efforts to accelerate the reuse of waste glass, waste synthetic resin, and wastewater sludge (sediment generated during wastewater treatment and purification processes) are also underway.

Recognizing these resource circulation activities, LG Innotek's Gumi plant last year became the first in the materials and components industry to receive the highest grade of resource circulation evaluation, the 'Zero Waste to Landfill Platinum Grade,' from the global safety certification company UL.

Park Youngsoo, Head of Safety and Environment at LG Innotek, said, “We are pleased that this award once again externally recognizes LG Innotek’s ESG management achievements. We will actively promote carbon neutrality declarations and RE100 initiatives to secure global-level ESG leadership.”