LG Innotek vows to achieve carbon neutrality by 2040

LG Innotek announced on Wednesday a set of plans to achieve carbon neutrality by 2040.

The IT components maker said it will fulfill all of its electricity needs from renewable energy sources by 2030, and reach a state of net-zero carbon dioxide emissions in 2040.

Electricity accounts for more than 90 percent of LG Innotek’s greenhouse gas emissions.

To meet its target, the company said it will introduce more solar power generation facilities to its domestic establishments, sign power purchase agreements with renewable energy suppliers, and pay extra to Korea Electric Power Corp. for power generated from renewables under its Green Premium program.

This year, LG Innotek will purchase 192 gigawatt-hours of power generated from renewables through Kepco’s program, amounting to an annual electricity use of some 65,000 households.

The company plans to increase use of renewable energy at its overseas production facilities as well by introducing solar power generation facilities, signing power purchase agreements and getting renewable energy certificates.

LG Innotek said it will also expand resource circulation efforts aimed at having zero waste go to landfills at all of its establishments worldwide.

The company’s Gumi plant in North Gyeongsang Province last year received a platinum grade “Zero Waste to Landfill” certification from the international safety certification company Underwriters Laboratories.

LG Innotek also plans to replace all of its vehicles with pollution-free cars by 2030, and has been expanding electric car charging infrastructure at its establishments nationwide.

“We will increase investment and introduce technologies to minimize the environmental effects of our business activities and take the lead for a sustainable ecosystem,” LG Innotek Chief Executive Jeong Cheol-dong said, adding that the company would raise customer value through pursuing balanced environmental, social and corporate governance standards.

By Kim So-hyun (sophie@heraldcorp.com)