LG Electronics "Reduce Greenhouse Gas Emissions to Half of 2017 Levels by 2030"

LG Electronics Publishes 2021-2022 Sustainability Management Report
"Last Year's Greenhouse Gas Emissions Reduced by 40% Compared to 2017"
"Recycled Plastic Used in Products Reached 26,545 Tons... Approximately 32% Increase in One Year"

[Asia Economy Reporter Park Sun-mi] LG Electronics aims to achieve carbon neutrality by reducing greenhouse gas emissions to half of the 2017 levels by 2030. The company has already succeeded in cutting greenhouse gas emissions by 40% last year and increased the use of recycled plastics by about 32% within one year.

Through the ‘2021-2022 Sustainability Management Report’ published on the 22nd, LG Electronics disclosed specific goals and action plans to implement the new ESG mid-to-long-term strategic task ‘Better Life Plan 2030’ to be pursued by 2030.

First, LG Electronics plans to reduce greenhouse gas emissions generated during the product manufacturing stage by 50% compared to 2017 by 2030. This is part of the ‘Carbon Neutrality 2030’ goal declared by LG Electronics in 2019. The total amount of direct and indirect greenhouse gases emitted from domestic and overseas business sites last year was 1.15 million tCO2eq (tons of CO2 equivalent; a value converting greenhouse gases into CO2 emissions), which is about 40% less than in 2017. Greenhouse gases generated during the manufacturing stage are classified into direct greenhouse gases from fuel use and indirect greenhouse gases from external power or heat consumption.

The amount of recycled plastics used in products last year was 26,545 tons, an increase of about 32% compared to the previous year. Additionally, the amount of waste electronic products collected by LG Electronics last year was 442,315 tons, and the cumulative collection volume as of the end of last year recorded 3.52 million tons, an increase of about 14% compared to the previous year. During the product usage stage by customers, the greenhouse gas emission intensity of seven major products (TV, refrigerator, washing machine, dryer, home air conditioner, system air conditioner, monitor) decreased by about 6.6% compared to the previous year.

LG Electronics has also established a mid-to-long-term plan to switch 100% of the electricity used at all domestic and overseas business sites to renewable energy by 2050. As a priority, the North American subsidiary converted 100% of the energy used in production, logistics, and offices to renewable energy last year. In the development stage, LG Electronics set a goal to use a total of 600,000 tons of recycled plastics by 2030 starting from last year and is increasing the use of recycled plastics in refrigerators, washing machines, air conditioners, TVs, and monitors.

Meanwhile, LG Electronics is expanding the collection of waste electronic products to realize a circular economy. Initially, the company had planned to collect 4.5 million tons from 2006 to 2030, but it has raised the cumulative collection target to 8 million tons.