LG Innotek and LG Display Lead the Way in Carbon Management

Selected for 'Carbon Management Sector Honors' in CDP Assessment
Accelerating Efforts to Address Climate Change Through Renewable Energy Transition

LG Innotek and LG Display have both been recognized as companies excelling in their response to climate change. They have announced plans to further strengthen their 'carbon management' by improving energy efficiency and other measures.

On April 30, LG Innotek announced that it had received a 'Leadership A grade' in the 2024 Carbon Disclosure Project (CDP) climate change response assessment, and was selected as the top company in carbon management for the third consecutive year. The CDP is a global initiative that collects and evaluates environmental information from major companies around the world on behalf of leading global financial investment institutions, and provides related information to stakeholders through an open platform.

The CDP assessment is conducted simultaneously in over 130 countries. Alongside the Dow Jones Sustainability Index (DJSI), it is regarded as one of the most trusted 'global sustainability assessment indicators.' This year, the climate change response section of the CDP assessment was conducted on 24,836 companies worldwide. Of these, only 424 companies, accounting for just 2% of the total, received a 'Leadership A grade.' In South Korea, 16 companies were recognized.

LG Innotek received high marks for its rapid execution of initiatives toward '2030 RE100 (100% use of renewable energy) and 2040 carbon neutrality,' led by its dedicated carbon neutrality organization.

On this day, at the '2024 CDP Korea Awards' held at the Fairmont Ambassador Hotel in Yeouido, Seoul, LG Innotek was selected for the third consecutive year as a member of the 'Carbon Management Honors Club,' which is awarded to the top five companies in South Korea. It was also simultaneously selected for the 'Carbon Management Sector Honors,' given to the top four companies in the information technology (IT) sector. With this recognition, LG Innotek has achieved the distinction of being selected as an outstanding company in the CDP climate change response category for six consecutive years from 2019 to 2024.

LG Innotek is making multifaceted efforts, including the transition to renewable energy, improvement of energy efficiency, and process optimization. In particular, it has focused on converting electricity with high greenhouse gas emissions to renewable energy. Last year, more than 60% of the electricity used at its domestic and overseas sites was converted to renewable energy, achieving RE60 at the company-wide level. Two domestic sites?Vietnam and Paju·Gumi1A?have already achieved RE100.

Moon Hyuksu, CEO of LG Innotek, said, "We are focusing our ESG (Environmental, Social, and Governance) management activities on responding to climate change," adding, "We will create differentiated customer value through global ESG leadership."

LG Display was also selected for the 'Carbon Management Sector Honors' in the IT sector for the ninth consecutive year. This recognition was given for LG Display's achievements in reducing its domestic and overseas carbon emissions by 43% compared to 2018 as of last year, and converting 39% of its total electricity consumption to renewable energy, thereby leading the way in achieving carbon neutrality.

LG Display is working to reduce both direct (Scope 1) and indirect (Scope 2) greenhouse gas emissions generated during product manufacturing. The company is also expanding its use of renewable energy, introducing greenhouse gas reduction facilities, and carrying out carbon reduction activities such as optimizing facility operations based on DX (digital transformation) technologies, including smart controls.