Supporting Woosung Chemical's Carbon Reduction Efforts
Direct Funding Provided to Realize 'Carbon Neutrality' Goals
"Practicing ESG Management and Advancing Together with Partners"
LG Chem is supporting the carbon reduction activities of its top partner companies.
On May 9, LG Chem announced that it will help install solar panels on the roof of the factory of its partner, Woosung Chemical, through the "Carbon-Neutral Leading Plant Support Project." This project is led by the Korea Institute of Industrial Technology (KITECH), which operates under the Ministry of Science and ICT, and aims to help companies achieve carbon neutrality. Woosung Chemical, a manufacturer of functional plastic additives, has been actively participating for several years in the "Energy Co-Prosperity Project," which LG Chem has operated since 2014.
Notably, LG Chem is the only large company among the participants to provide direct financial support to its client companies. In addition to supporting its partners' carbon reduction efforts, LG Chem is also working to manage its own "Scope 3" (indirect emissions outside its control) carbon footprint. Beyond this project, LG Chem continues to expand the scope of its support through the "Autonomous ESG (Environmental, Social, and Governance) Support Project," which includes assistance with carbon emission measurement and verification, consulting on designing and producing carbon-reducing products, and carbon emission assessments throughout the entire product life cycle.
Ko Yoonjoo, Executive Vice President and Chief Sustainability Strategy Officer (CSSO) at LG Chem, stated, "We will continue to practice ESG management together with our partners and take on new challenges and leaps toward carbon neutrality."
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