LG Chem presents comprehensive program to strengthen ESG values

Teens are participating in Green Education, an education program designed to foster leaders in environmental, social and governance (ESG) values. [LG CHEM]

LG Chem, a global chemical maker, is pushing forward its social contribution project in line with environmental, social and governance (ESG) goals.

LG’s new vision, known as Green Connector, aims to respond to global issues including climate change and promote businesses to address societal needs. Green Connector deals with four main areas: education, ecosystem, economy and energy.

Green Education focuses on fostering ESG leaders to entrench green value in the society.

Like Green, an educational program authorized by The Ministry of Education, offers online mentoring to teens by pairing them with university students studying in fields involving social responsibility and next-generation technology.

The mentees and mentors partake in collaborative projects such as making YouTube videos based on what they learned. They present their projects at the Like Green concert, a monthly public program that features lectures and talks by ESG experts to increase public understanding.

Starting with professor Choe Jae-chun in the field of biodiversity, renowned scholars and experts will gather to provide insight and help develop effective materials for environmental education.

LG's emphasis also lies in raising public awareness regarding the significance of biodiversity and conservation, within the Green Ecology framework.

In collaboration with Seoul Hangang Park Headquarters, the company established the Bamseom Ecological Experience Center on Mapo Bridge, which is now open to citizens. This initiative aims to promote awareness about the ecological value of Bamseom Island as a Ramsar wetland.

In particular, LG Chem is actively contributing to the conservation of marine biodiversity and carbon reduction.

In addition to creating a sea forest in Yeosu, South Jeolla, to preserve marine creatures, LG further plans to engage citizens in its social contribution business. By applying the metaverse platform, citizens will be given opportunities to create virtual sea forests of their own.

To enable Green Economy, LG is operating the LG Social Campus to provide opportunities to social companies that maintain strong values of eco-friendliness and public interest.

As practical support measures, LG offers financial support, provides business venues and helps foster human resources. Through LG Social Campus, 260 companies secured 11.2 billion won ($8.4 million) in financial support, which in turn led to a 21 percent increase in employment and 55 percent sales growth.

Lastly, LG Chem is holding an energy development program combined with social welfare program.

LG’s solar-energy generators located at local government-owned sites produce around 3.56 million kilowatt hours of energy, as of October 2022. This production creates a carbon reduction effect of 1,660 tons.

What gives this eco-friendliness its social meaning is that LG gives out 62 million won of its annual proceeds from the generators to the vulnerable.

Since 2015, under the company’s Green Partnership project contracted with the Community Chest of Korea, 131 teens and 3,781 institutions have received various forms of support including assistance with their energy bills.

BY KIM SU-HYEON [kim.suhyeon4@joongang.co.kr]