LG will ensure a 100% transition to renewable energy by 2050

AK&M 22 July 2021 16:54

LG Electronics (LG) has announced its intention to completely switch to renewable energy sources by 2050, as a key direction of the company's sustainable development strategy. This announcement is contained in the published LG Electronics Sustainability Report and complements the company's previous promise to achieve carbon neutrality by 2030. As part of the Zero Carbon 2030 initiative, LG intends to reduce carbon emissions in its production by 50% from 2017 standards by 2030. This is stated in the company's message.

The transition will be carried out sequentially — from region to region, starting with North America, where all offices and manufacturing enterprises will be equipped with renewable energy sources during the year. LG's production facilities outside Korea intend to transfer 50% of the electricity consumed to renewable energy sources in the next four years.

For the global transition to renewable energy, the company will need a large-scale strategy, including the installation of high-efficiency LG solar panels on buildings, the use of electricity purchase agreements that allow companies to purchase electricity directly from suppliers, the use of renewable energy Certificates (REC) and participation in the Green Premium program in Korea, in LG's domestic market, to purchase clean energy directly from the Korea Electric Power Corporation (KEPCO).

Already, LG is installing 3.2 MW solar modules at a production site in Noida, India, to generate electricity for the LG administrative office. This project will become part of the Clean Development Mechanism (CDM), which will allow LG to obtain certificates for reducing carbon emissions in accordance with the United Nations Framework Convention on Climate Change (UNFCCC).

LG Electronics is a South Korean company, one of the world's largest manufacturers of consumer electronics and household appliances. It is part of the LG Group conglomerate. The main office of LG Electronics is located in Seoul, Republic of Korea/