LG Electronics announced today that it’s planning on running its entire business on renewable energy by 2050 as a part of its sustainability strategy.
The transformation will be phased by region starting with North America. LG said in its press release that it plans on powering all of its North American offices and manufacturing sites using renewable energy within the year. LG manufacturing facilities outside of Korea will convert 50 per cent of their electricity use to renewable within the next four years.
“Our commitment to creating a better life for all can best be actualized by LG transition to renewable energy and achieving carbon neutrality,” said Park Pyung-gu, senior vice president of LG’s safety and environment division, in the press release.
To achieve this goal, LG plans on adopting a multitude of technologies, including solar panels, sourcing energy directly from suppliers, using renewable energy credits, and using local power sources.
LG is currently on track to cut its carbon emissions in the production phase by 50 per cent. By adding energy-efficient facilities and carbon emission reduction devices in its production process, LG is planning to reach its carbon reduction target by 2030. Additionally, it’s looking to increase waste recycling rates at production sites to 95 per cent within the same deadline.