Creating Value through LG Chem’s Sustainability and Carbon Neutrality Vision
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In July 2020, LG Chem unveiled its Sustainability Strategy for customers, environment and society centered on Climate-Neutral Growth 2050. LG Chem is the first Korean chemical company to commit to carbon-neutral growth which requires net increase in emissions to be zero despite its growth and global expansion. A combination of sustainable solutions are being rolled out at LG Chem. They include sourcing electricity from renewable energy, reducing the embodied carbon in products where possible, and actively developing a sustainable product portfolio consisting of post-consumer recycled or biodegradable plastics. As a global supplier of electric vehicle (EV) batteries, the company is also developing mechanisms to collect used EV batteries and repurposing them for energy storage. With increasing demand from governments and society on company’s sustainability performance, it is important for all players along the value chain to work together to contribute towards a more circular economy and sustainable future.