LG commits itself to moving entirely to renewable energy by 2050
Electronics manufacturer LG Electronics has announced its commitment to transition completely to renewable energy by 2050.
The announcement, made in LG’s sustainability report, follows an earlier promise to achieve carbon neutrality by 2030 through its Zero Carbon 2030 initiative, in which the company pledged to reduce carbon emissions at the production stage to 50% of its 2017 baseline.
The renewable energy transformation will be implemented on a region-by-region basis, starting in North America, where every office and manufacturing site will be powered by renewable energy within a year.
Proceeding from this point, LG’s manufacturing facilities outside of Korea are targeted to convert 50% of their electricity needs to renewable energy in the next four years.
Currently, LG is installing solar modules with a capacity of 3.2 MW at a manufacturing site in Noida, India, which will also supplement power to LG’s administrative office. This project will be expanded as a part of the Clean Development Mechanism, enabling LG to secure carbon reduction certificates from the United Nations Framework Convention on Climate Change.
LG safety and environment senior VP Park Pyung-gu says the company’s commitment to creating a better life for all can best be actualised by the company’s transition to renewable energy and achieving carbon neutrality.
“In today’s world, innovation does not just happen in the laboratory, they must also happen in our factories and plants. Today’s manufacturers have a once-in-a-lifetime opportunity to give the next generation a world worth inheriting and, at LG, we take this responsibility very seriously.”
Achieving its renewable energy objective globally will require the company to implement a diverse strategy, including installing high-efficiency LG solar panels on its buildings, using power purchase agreements that enable companies to buy electricity directly from suppliers and using renewable energy credit certificates.
This will also require participation in the Green Premium programme in Korea – LG’s home market – through buying clean energy directly from the Korea Electric Power Corporation.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation