LG Chem is the first to declare carbon neutral growth in Korea's petrochemical sector. As a result, approximately 50% of the estimated emissions in 2050 (BAU) will be reduced, maintaining the carbon emission levels of 2019 in 2050. To achieve our challenging goal, we will expand the use of superior renewable energy, advance existing carbon reduction technologies, and continue to promote overseas efforts to reduce greenhouse gases.
LG Chem has analyzed the cost of purchasing emission credits on a monthly basis and implemented a regulation that requires analysis on the impact of all new investments on greenhouse gases. In recent years, efforts to combat climate change have become an important evaluation indicator for investors and customers. Through outside rating agencies such as Carbon Disclosure Project (CDP) and Dow Jones Sustainability Index (DJSI), the company has disclosed its response system and achievements to Korean and foreign investors. The company has been recognized as an outstanding climate change response company by CDP for five consecutive years since 2013 in recognition of the excellence of its climate change response system.
LG Chem has made efforts to help small and medium-sized business partners to reduce the greenhouse gas emissions by operating the Energy Partnership business and Green Credit business. The company has diagnosed the energy management status of its partners and created a separate fund to support its partners’ investment in energy saving facilities. As of 2020, we have identified 10,000 tons of greenhouse gas reduction potential for 50 partners and supported the investment of 300 million KRW in energy saving facilities.