LG commits itself to moving entirely to renewable energy by 2050

21st July 2021 By: Donna Slater - Creamer Media Contributing Editor and Photographer

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.