LG Energy Solution Achieves 33% RE100 Transition with 100% Renewable Energy... Korea's No.1

CDP Report 2020 Performance
Survey of 345 Worldwide Including 9 Domestic

Exterior view of LG Energy Solution's electric vehicle battery factory in Poland. (Photo by LG Energy Solution)

[Asia Economy Reporter Moon Chaeseok] A survey has revealed that LG Energy Solution has the highest level of RE100 transition in South Korea. RE100 is a campaign in which companies and institutions procure all the electricity they use from renewable energy sources.

According to the industry on the 7th, The Climate Group, a multinational non-profit organization that oversees RE100, and the Carbon Disclosure Project (CDP) committee, a sustainability assessment organization, recently published the annual report "RE100 2021," which surveyed 345 companies including those with annual electricity consumption of over 100 GWh or global companies selected by the US economic magazine Fortune. Globally, 349 companies and institutions have joined RE100, and in South Korea, 14 entities including SK Inc. and its group affiliates, LG Energy Solution, Amorepacific, and Korea Water Resources Corporation are members.

According to the 2020 performance data of the 345 companies shown in the report, LG Energy Solution's transition rate was 33%. Amorepacific recorded 5%, while Korea Water Resources Corporation, SK Inc., SK Hynix, and SK Telecom were at 0%. US companies such as Apple and Bank of America, UK’s Canary Wharf Group, and Switzerland’s Credit Suisse were found to have achieved 100% RE100. Germany’s BMW achieved 81%, US Intel 81%, and US GM 24%, following behind.

LG Energy Solution joined the RE100 campaign in April last year, becoming the first domestic battery company to do so. LG Energy Solution’s plant in Poland has been operating on 100% renewable energy since 2019, and its US plant since July 2020. Expanding the scope to the entire country, eight SK affiliates including SK Hynix and SK Telecom joined the campaign for the first time in November 2020. Hyundai Motor Group, Korea Road Traffic Authority, and Lotte Chilsung Beverage also joined last year. A representative from LG Energy Solution said, "To reduce greenhouse gas emissions not only from battery production but also from raw material production and transportation processes, we are checking the carbon emissions of our partners and supporting the transition to renewable energy," adding, "We are discovering the optimal methods to minimize greenhouse gas emissions."