LG pledges to balance its carbonLG Electronics said Monday it will halve its carbon emissions by 2030 from 2017 levels by using more renewable energy and developing energy-efficient management systems.
The company is committing to a “Zero Carbon 2030” initiative, which entails bringing LG closer to carbon neutrality - a net-zero carbon emissions footprint achieved by balancing carbon emissions with carbon removal.
In specific, LG Electronics is looking to cut its carbon emissions from 1.93 million tons in 2017 to 960,000 tons by the end of 2030. The company said in a statement that it will expand high-efficiency facilities and utilize technologies to reduce greenhouse gas emissions.
The company also plans to increase its level of participation in the Clean Development Mechanism (CDM), a United Nations (UN) program.
Under the program, companies in developed countries invest in carbon emissions reduction projects in developing countries instead of investing in more expensive emissions reduction in their own countries.
After the investment, companies in developed nations receive carbon credits, called Certified Emission Reductions, and use them to either reach their emissions targets or sell them for profit.
LG Electronics said it earned 340,000 tons of carbon credits through CDM projects from 2015 to 2018. The company is the first household appliance manufacturer to acquire carbon credits, LG Electronics noted.
“Our commitment to combating global climate change is unwavering,” said Lee Young-jae, vice president of environmental safety at LG Electronics.
“LG’s progressive steps in reducing carbon emissions at workplaces the world over, with many more UN CDM projects in the works, exemplify the company’s unwavering commitment to environmental sustainability leadership.”
LG Electronics added it will actively use its own business-to-business solutions, such as high-efficiency chillers and energy management systems, to reduce carbon emissions while using more solar products.
The electronics company’s Monday announcement is in line with the country’s continued push to tackle carbon dioxide emissions by using more renewable sources like solar and wind power.
The Korean government set a national target under the Paris climate agreement in 2016 to cut greenhouse gas emissions by 37 percent from business-as-usual levels by 2030.
Last month, the Ministry of Trade, Industry and Energy announced it will “boldly” cut coal power production by banning new plants and closing old facilities in a bid to fight fine dust air pollution and lower greenhouse gas emissions.
LG’s latest announcement also comes as the government increases its monitoring of carbon dioxide emissions after the Ministry of Environment found that 235 companies in the Yeosu Industrial Complex had colluded with inspectors to fabricate environmental reports since 2015.
BY KO JUN-TAE [email@example.com]