- Acquisition of "Platinum" rating from EcoVadis, the world's
largest ESG ratings organization
- Puruing "2030 RE100" and "2040 Carbon Neutrality" goals, with a
renewable electricity transition rate of 61% in 2023
- Working to create an equal and fair working environment,-
leading to selection as an "Good Company for Equal Employment
Opportunity."
SEOUL, South Korea,
July 24, 2024 /PRNewswire/ -- LG
Innotek (CEO Moon, Hyuksoo) announced on July 24, 2024, that it has been awarded the
highest rating of "Platinum" by EcoVadis, the world's largest
environmental, social, and governance (ESG) ratings
organization.
Founded in Paris in 2007,
EcoVadis is a reputable organization in the field of global
sustainability ratings. It carries out assessments of more than
130,000 companies in over 180 countries, measuring their
performance throughout the year across four ESG assessment
categories: environment, labour rights, ethics, and supply chain.
Based on the results, companies are graded into four levels:
Platinum (top 1%), Gold (top 5%), Silver (top 15%), and Bronze (top
35%).
LG Innotek achieved the highest rating of Platinum with high
scores in all four categories, scoring especially high in
environment and labour rights. This marks the second consecutive
year that LG Innotek has maintained its Platinum status since
2023.
The company has established and actively implemented three
strategic directions for ESG: "Green management for a healthier
planet", "Partnerships for elevating the social value", and
"Trustworthy Governance"
It recognizes climate change as a serious issue and has adopted
climate change response as a top priority. To this end, LG Innotek
has set itself the ambitious goals of "2030 RE100" and "2040 Carbon
Neutrality" and is accelerating its implementation eco-friendly
management activities.
As a result, it converted about 61% of its electricity
consumption to renewable energy last year. The consequent reduction
of greenhouse gas emissions was approximately 267,000 tonnes of
carbon dioxide equivalent (tCO2eq), which has an effect on par with
planting about 40 million 30-year-old pine trees.
In fact, LG Innotek has been committed to securing a stable
renewable energy supply chain, signing power purchase agreements
(PPAs) and renewable energy certificate (REC) contracts with major
domestic energy companies last year. In addition, it is rapidly
increasing the proportion of renewable energy it consumes by
expanding the solar power generation facilities at its domestic and
overseas operations and participating in the Green Premium
program.
In terms of labour rights, LG Innotek respects the diversity of
its employees and constantly works to create a fair and equal
working environment.
In 2012, LG Innotek established Innowith, a general subsidiary
company that actively recruits people with disabilities. The hired
employees work in cafés, stores, and other major welfare facilities
within its workplace.
Furthermore, LG Innotek was selected as an "Good Company for
Equal Employment Opportunity" by the Korean Ministry of Employment
and Labour last year. It was recognized for hiring talented women
employees and increasing the number of women in management
positions. The company is also promoting a culture of horizontal
communication through its anonymous internal communication channel,
Inno Voice.
LG Innotek CEO Moon said, "As global regulations and systems
related to ESG are gradually being refined and rapidly adopted, it
is time for companies to demonstrate their actual ESG performance."
He then added, "We will continue to create differentiated customer
value through authentic ESG management practices for a sustainable
company."
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