SEOUL, Korea (July 31, 2024) – LG Display, the world’s leading innovator of display technologies, has released its “2024 ESG Report,” detailing the company’s activities and achievements over the past year such as its innovation of eco-friendly technologies and enhancement of suppliers’ ESG capabilities.
In the environmental sector, LG Display focused on “eco-friendly technology innovation.” To reduce greenhouse gas emissions, a key climate response management indicator, the company developed eco-friendly process technologies and improved related equipment to a high efficiency of over 90%. It also achieved the highest water reuse rate in the domestic industry (74%) by continuously improving wastewater reuse efficiency.
Moreover, it strengthened its “life cycle assessment” program, which evaluates the environmental impact of products throughout their entire life cycle. The company completed the assessment for 40% of its products, doubling the previous year’s rate as it increased its capacity to produce sustainable and eco-friendly products.
The report additionally outlined LG Display’s social impact, highlighting its financial support, technical cooperation, medical welfare support, and education to help its suppliers strengthen their competitiveness along with programs to raise their ESG capabilities through active online and offline communication. The company enhanced supply chain management by evaluating compliance with its ESG Behavior Rules and actively improving nonconformities, resulting in all domestic workplaces across Paju and Gumi obtaining VAP Platinum certification, the highest supply chain level of the Responsible Business Alliance (RBA).
In the area of governance, LG Display’s objective and transparent communication with stakeholders saw it rank first in Korea in the IT components sector of the Dow Jones Sustainability Indices (DJSI), a set of major ESG benchmarks, while also being newly included in the DJSI Asia Pacific Index. In addition, the company advanced its compliance management system under the goal of “zero compliance risk.”
As a result of its ESG management, the company was recently selected as one of the “World’s Most Sustainable Companies of 2024” by TIME magazine and data firm Statista. Meanwhile, the company’s latest sustainability report transparently disclosed ESG management information in compliance with global ESG disclosure and evaluation standards such as European Sustainability Reporting Standards (ESRS) and International Financial Reporting Standards (IFRS).
“We will continue to strengthen and develop its ESG management, and do our best to become a company that is loved by customers by innovating and creating unique value through ESG management,” said Cheol-dong Jeong, CEO of LG Display, in his greeting section from the report.
LG Display’s “2024 ESG Report” is available on the LG Display website (www.lgdisplay.com).
