SEOUL, Korea (Jul. 31, 2023) – LG Display, the world’s leading innovator of display technologies, announced today that it has published its ‘2023 ESG Report’ which outlines last year’s environmental, social, and governance (ESG) activities and achievements.
The company’s sustainability report has been revised and expanded from previous years to comprehensively cover its ESG strategies, achievements, and future plans.
In the environmental sector, LG Display underlined its commitment to ‘Net Zero’ carbon emissions by 2050 in response to the climate crisis with a roadmap to reducing greenhouse gas emissions by 53 percent by 2030 and 67 percent by 2040, compared to 2018 figures.
To achieve these goals, the company has increased its greenhouse gas reduction efforts and energy-saving initiatives. This includes the establishment of facilities that reduce the greenhouse gases emitted during manufacturing by more than 90 percent while making full-fledged efforts to expand its new and renewable energy conversion and prioritize energy efficiency. As a result, the company managed to reduce its greenhouse gas emissions by a total of 2.35 million tons last year.
In addition, thanks to the company’s persistent efforts to expand resource circulation, the wastewater reuse rate has been successfully increased to 174 percent through the implementation of a wastewater reuse system.
LG Display strengthened its capabilities in developing eco-friendly products and made every effort to reduce its environmental footprint and minimize its use of hazardous substances throughout the entire production process. The company achieved an industry-leading waste recycling rate of around 80 percent by redesigning and unifying materials, making them easier to recycle upon disposal. LG Display also minimized its emissions of environmentally regulated substances by replacing them with eco-friendly alternatives.
The comprehensive report also summarizes the company’s social activities, including the establishment of the LG Display ESG Behavior Rules to ensure partners comply as eco-friendly, ethical companies that quickly respond to the strengthening of global regulations. After conducting preemptive ESG risk management for its domestic and overseas operations and major partners, LG Display’s Paju plant acquired a ‘VAP Platinum Level,’ the highest supply chain management level given by the Responsible Business Alliance (RBA). The company also expanded its partnerships in finance, technology, and medical welfare, helping it earn the Best Grade in the Win-Win Index for the 8th consecutive year.
In terms of governance, the company introduced a new corporate governance charter and board guidelines to establish more sound and transparent governance.
Meanwhile, LG Display has adopted its new ESG slogan, ‘True Display for a Sustainable Future,’ to encourage all executives and employees to actively participate in ESG management and effectively spread its core ESG values across the entire company.
This year’s LG Display sustainability report is available on LG Display’s website in both Korean and English.