LG Electronics Inc, a multinational corporation in the consumer electronics and major appliance industry, has launched its ambitious global Zero Carbon 2030 initiative, aiming to achieve net-zero carbon emissions from its worldwide operations within 12 years.
According to Hyoungsub Ji, Managing Director of LG Electronics West Africa, the move aligns with the company’s larger sustainable business strategy to reduce carbon emissions from its global operations by 50% (compared to a 2017 baseline) by implementing various carbon reduction and renewable energy initiatives.
In addition, Young-Jae Lee, Vice-President Environmental Safety of LG Electronics, while unveiling their plans, disclosed that they aim to not only reach the ultimate goal of carbon neutrality but also achieve a net-zero carbon emissions footprint by balancing carbon emissions with carbon removal.
He said, “Our commitment to combating global climate change is unwavering. LG’s progressive steps in reducing carbon emissions at workplaces the world over, with many more UN CDM (Clean Development Mechanism) projects in the works, exemplify the company’s strong commitment to environmental sustainability leadership.”
Recall that the United Nations has continually warned that our planet faces severe devastation from climate change if carbon emissions from industries continue to rise. In the Paris Agreement of 2015, the UN stressed that emissions need to be reduced by 45% by 2030 and reach net zero by 2050 to save Earth.
It was against this backdrop that LG has adopted a variety of strategic initiatives that will cut carbon emissions across its global production sites from nearly 2 million tons recorded in 2017 to 960,000 tons by the end of 2030.
Lee highlighted that LG is focused on leveraging clean development mechanisms (CDM) to achieve carbon reductions. “LG is looking to expand its high-efficiency facilities and technologies targeting greenhouse gas reduction, alleviating the creation of carbon emissions during the production process. LG will expand renewable energy installations using solar energy products and actively utilize its business-to-business technology solutions such as high-efficiency chillers and Energy Management Systems (EMS) to reduce carbon emissions.
“Through the expansion of its CDM projects, LG plans to secure Certified Emission Reduction (CER) credits,” he said. “Such forward-thinking CDM initiatives promote clean development in emerging nations by allowing businesses with carbon reduction commitments to implement emissions reduction projects in developing countries using their capital and technologies. Such projects are critical to earning CER credits, which are issued by the United Nations Framework Convention on Climate Change (UNFCC) after a thorough evaluation process.
“As the first household appliance manufacturer to acquire CER credits in 2015, LG paved the way by utilizing highly efficient home appliances and cementing its status as a pioneering environmentally-conscious company. By the end of 2018, LG had secured a total of 340,000 tons of CER through its CDM initiatives,” he added.
Aside from carbon reduction, LG Electronics and One Million Tree Initiative, a non-governmental organisation, will collaborate on a tree planting effort at Omole Housing Estate, phase 1, in Ikeja, Lagos State. The tree planting project commemorates World Environment Day 2024, which falls on June 5.
