LG Innotek CDP Climate Leadership
- SEOUL – LG Innotek has been awarded the highest rating for carbon management by the Carbon Disclosure project (CDP) for the third consecutive year, earning a "Leadership A"...
- The CDP is a globally recognized initiative that gathers and assesses environmental data from major corporations worldwide.
- This year, the CDP evaluated the climate change responses of 24,836 companies globally.
LG Innotek Earns Top Marks in Carbon Management for Third Straight Year
SEOUL – LG Innotek has been awarded the highest rating for carbon management by the Carbon Disclosure project (CDP) for the third consecutive year, earning a “Leadership A” grade for its climate change response, the company announced Monday.
CDP Recognition Highlights Sustainability Efforts
The CDP is a globally recognized initiative that gathers and assesses environmental data from major corporations worldwide. It then disseminates this information to stakeholders via public platforms.The CDP evaluation, conducted across more than 130 countries, is considered a leading benchmark for corporate sustainability, alongside the Dow Jones Sustainability Index (DJSI).
This year, the CDP evaluated the climate change responses of 24,836 companies globally. only 424 companies, representing just 2% of the total, achieved the “Leadership A” grade. Sixteen of those companies are based in South Korea.
Commitment to Carbon Neutrality Praised
LG Innotek was specifically commended for its proactive steps toward achieving its “2030 RE100 and 2040 carbon neutral” goals, with a focus on establishing carbon-neutral operations. the company was also named to the “Carbon Management Honors Club,” an award given to the top five domestic companies at the 2024 CDP Korea Awards held in Seoul.
Furthermore, LG Innotek received honors in the carbon management sector, an award reserved for the top four companies in the IT industry. This recognition marks the sixth consecutive year (2019-2024) that LG Innotek has been recognized as an exemplary company in the CDP’s climate change response category.
Renewable Energy Initiatives Drive Progress
LG Innotek has set ambitious targets of achieving “2030 RE100 and 2040 carbon neutral” and is actively pursuing environmentally responsible management practices. To achieve these goals, the company is expanding its use of renewable energy by securing large-scale renewable energy power supply networks through direct power purchase agreements (PPA) and virtual power purchase contracts (VPPA).
The company is also accelerating efforts to secure stable renewable energy supply networks by installing rooftop solar power generation facilities and participating in the green premium system at major domestic and international facilities.
Significant Shift to Renewable Energy
Last year, LG Innotek converted 638 GWh of electricity, representing over 60% of its total electricity consumption at domestic and international sites, to renewable energy sources. According to the company,this amount of energy could power approximately 159,500 four-person households for a year. as an inevitable result, LG Innotek achieved RE60 status, and two domestic workplaces, including those in Vietnam, Paju, and Gumi 1A, have already achieved RE100.
Company Statement
According to a statement, LG Innotek is prioritizing sincere ESG management activities centered on climate change response and will continue to create differentiated customer value through global ESG leadership.
LG Innotek’s Sustainability Achievements: A Q&A
Here’s a breakdown of LG Innotek’s recent accomplishments in carbon management, presented in a question-and-answer format to provide clear and accessible data.
Q: What recognition has LG Innotek received for its carbon management efforts?
A: LG Innotek has been awarded the highest rating (“Leadership A”) for carbon management by the Carbon Disclosure project (CDP) for the third consecutive year. this recognition highlights the company’s commitment to addressing climate change.
Q: What is the Carbon Disclosure Project (CDP)?
A: The CDP is a globally recognized initiative that collects and analyzes environmental data from major corporations worldwide. It then shares this information with stakeholders. The CDP’s evaluation is a leading benchmark for corporate sustainability.
Q: How does LG Innotek’s performance compare to other companies?
A: In the CDP’s evaluation this year, 24,836 companies worldwide were assessed. Only 424 companies, which is just 2% of the total, received the ”Leadership A” grade. Sixteen of these top-performing companies are based in South Korea.
Q: What specific initiatives has LG Innotek undertaken?
A: LG Innotek is focused on achieving its “2030 RE100 and 2040 carbon neutral” goals, which includes:
Expanding the use of renewable energy.
Securing renewable energy supply networks through Power Purchase Agreements (PPAs) and Virtual Power Purchase Agreements (vppas).
Installing rooftop solar power generation facilities.
Participating in the green premium system.
Q: What is RE100?
A: RE100 is a global initiative bringing together businesses committed to 100% renewable electricity.
Q: What are the key achievements in renewable energy usage?
A: last year, LG Innotek converted 638 GWh of electricity to renewable sources, representing over 60% of its total electricity consumption at domestic and international sites.This amount of energy can power approximately 159,500 four-person households for a year. As a result, LG Innotek achieved RE60 status, and two domestic workplaces have already achieved RE100.
Q: What other awards and recognitions has LG Innotek received?
A: LG Innotek was also named to the “Carbon Management Honors Club” at the 2024 CDP Korea Awards. The company also received honors in the carbon management sector, an award reserved for the top four companies in the IT industry.This marks the sixth consecutive year (2019-2024) that LG Innotek has been recognized in the CDP’s climate change response category.
Q: What is LG Innotek’s overall commitment?
A: LG Innotek is committed to sincere ESG (Environmental, Social, and Governance) management activities, focusing on its climate change response. The company aims to create differentiated customer value through global ESG leadership.
Q: Can you summarize LG Innotek’s awards and achievements in a table?
A: Certainly! here’s a summary:
| Recognition | Details | Importance |
|---|---|---|
| CDP “Leadership A” Grade | Awarded for the third consecutive year. | Recognizes top-tier carbon management and climate change response. |
| Carbon Management Honors Club | Awarded at the 2024 CDP Korea Awards. | Acknowledges top-performing domestic companies. |
| Honors in Carbon Management (IT sector) | awarded for the sixth consecutive year (2019-2024). | Highlights consistent excellence in climate change response within the IT industry. |
| RE60 Status | Achieved through the conversion of over 60% of electricity consumption to renewable sources. | Demonstrates a significant shift towards enduring energy practices. |
| RE100 Status (for some workplaces) | Achieved by two domestic workplaces. | Shows concrete progress towards the goal of 100% renewable energy usage. |