LG Innotek Plans to be Carbon Neutral by 2040

LG Innotek plans to achieve carbon neutrality by 2040. The company announced on March 23rd that it had finalized the '2040 Carbon Neutrality Plan' at a recent ESG committee meeting.

With this declaration, LG Innotek expects to gain further momentum for its ESG management.

Carbon neutrality means the state where a company achieves zero carbon emission by carrying out plans to remove as much greenhouse gases as it produces. As climate change and ESG management rise as global topics, many companies are pursuing to be carbon neutral.

LG Innotek announced the carbon neutrality plan in order to raise awareness of climate change and lead the effort to reduce greenhouse gas emissions, thereby keeping abreast of the global effort to cope with climate change.

The 2040 Carbon Neutrality Plan includes yearly goals and detailed strategies for achieving carbon neutrality. The company will switch to renewable energy for all electricity used in its business sites around the world by 2030 and achieve zero carbon emission by 2040.

CEO Cheoldong Jeong said, "LG Innotek will lead the efforts to build a sustainable ecosystem by expanding the investment and introducing technologies to minimize environmental impact." He also added, "We will raise customer value by practicing balanced ESG management in all areas including environment, social and governance."