UN Global Compact
LG Energy Solution joined the United Nations Global Compact (UNGC) in April 2022, pledging to adhere to the ten principles of the UNGC in the areas of human rights, labor, environment and anti-corruption in all business activities. In addition, we support the achievement of United Nations Sustainable Development Goals (SDGs) and intend to disclose the related activities and achievements.
ESGGBA (Global Battery Alliance)
LG Energy Solution participates as a member on the Board of Directors in the Global Battery Alliance (GBA), a multi-stakeholder collaboration platform of industry actors, governments, international organizations, non-governmental organizations, and other stakeholders aimed at building a sustainable battery value chain, and provides oversight to the Secretariat and all GBA activities representing the battery manufacturing industry. Through GBA activities, we monitor and respond preemptively to global policy and regulatory landscape of battery value chain contribute to establishing ESG standards, including on battery carbon footprint, human rights and child labor, and participate in the development of the GBA Battery Passport system.
ESGRE100 (Renewable Electricity 100%)
LG Energy Solution was the first in the battery industry to join the RE100 and EV100 initiatives in April 2021 and is committed to source 100% of electricity renewably in all operating sites by 2030. Currently, our plants in Poland and the United States have completed the transition to 100% renewable energy, while those in Korea and China are also gradually expanding renewable energy sources.
EEV100 (Electric Vehicle 100%)
LG Energy Solution was the first in the battery industry to join the RE100 and EV100 initiatives in April 2021 and is committed to transition 100% of its vehicles to eco-friendly vehicles by 2030. As a manufacturer of electric vehicle batteries, we will continue to contribute to reducing greenhouse gases from transportation.
ETCFD (Task Force on Climate-related Financial Disclosures)
LG Energy Solution has disclosed information about our climate change management system in the ESG reports in accordance with TCFD recommendations, and, as of February 2023, was the first Korean battery manufacturer to officially declare support for the TCFD. We will continue to analyze business opportunities and risks caused by climate change and take the lead in climate action through various measures to achieve RE100 by 2030 and carbon neutrality by 2050.
ERBA (Responsible Business Alliance)
LG Energy Solution is the first Korean battery manufacturer to join Responsible Business Alliance (RBA). RBA is the world’s largest industry coalition dedicated to corporate social responsibility in global supply chains and comprised with over 190 global firms. We fully support the vision and goals of the RBA and are committed to driving sustainable value for workers, the environment and business throughout the global battery supply chain. We seek to progressively align our operations with the provisions of the RBA Code of Conduct and collaborate with suppliers and stakeholders to improve working and environmental conditions and business performance through leading ESG standards and practices.
SRMI (Responsible Minerals Initiative)
We have also joined RMI to procure minerals in ethical and transparent manner. RMI, an initiative under RBA, was established in 2008 to respond to human rights and environmental issues in the procurement process of minerals such as cobalt. Currently, over 400 companies worldwide have participated in this initiative.
SRLI (Responsible Labor Initiative)
To improve the labor conditions and protect human rights in the global supply chain, LG Energy Solution is the first Korean battery company to participate in RLI. RLI, an initiative under the RBA, was established in 2017 to respond to issues regarding forced labor, child labor, and working conditions. More than 180 global companies are participating members.
SFCA (Fair Cobalt Alliance)
LG Energy Solution is the first Korean company to join FCA in May 2022 with a view to contributing to the eradication of forced labor and child labor in artisanal and small cobalt mines in the Democratic Republic of the Congo and to bringing sustainable changes to the local socioeconomic systems through community support activities.
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