LG Innotek introduced on the twelfth that it had revealed the ‘2020-2021 LG Innotek Sustainability Report,’ which accommodates the corporate’s ESG (Setting, Social, Governance) efforts and achievements.
LG Innotek’s dedication to bolster ESG administration is properly illustrated on this report. Within the report, the corporate disclosed a brand new ESG imaginative and prescient and related organizational construction.
LG Innotek has established the ESG imaginative and prescient system that features methods and duties for every ESG discipline with the imaginative and prescient of ‘International No. 1 Materials and Element Firm to Convey a Higher Tomorrow.’
Its related organizations have been additionally strengthened. The ‘ESG Board Committee’ was established throughout the board of administrators (BOD) to behave because the supreme evaluate board for ESG. As well as, the ‘ESG Govt Committee’ is operating to advertise company-wide ESG actions. The Govt Committee is chaired by the CFO, and related departments are collaborating.
Particularly, this yr’s report disclosed ESG administration actions extra intimately as per the worldwide data disclosure requirements to bolster communication with stakeholders.
Together with it, the report launched the corporate’s main environmental, social and governance-related efforts and achievements.
First, within the discipline of surroundings, LG Innotek has proactively carried out inexperienced administration actions with the objective of ‘zero environmental affect.’ Such actions embrace introducing renewable power and increasing the applying of high-efficiency manufacturing services to cut back greenhouse fuel emissions. By these efforts, the corporate saved the overall power price of KRW 5.2 billion final yr. Greenhouse fuel emissions decreased by 11% from 2019, and the overall discount quantity is about 45,000 tons.
LG Innotek additionally reduce its consumption of water sources by 7% from the earlier yr by increasing funding in recycling services and managing water utilization by the unit of KRW.
In recognition of such achievements in eco-friendly administration, LG Innotek obtained an A- score from the Carbon Disclosure Mission (CDP) on local weather change for 2 consecutive years in 2019 and 2020 and on water safety for 4 consecutive years between 2017 and 2020.
As for social duty, the corporate is continuous the actions for its workers, companions, and the native communities aiming to ascertain ‘the partnerships for elevating social worth.’
For the staff, LG Innotek is selling what it calls the PRIDE Exercise to inspire the staff to turn out to be pleased with their firm. By deciding on core domains that have an effect on the staff’ satisfaction, the corporate is actively enterprise greater than 30 actions comparable to operating a hub workplace, establishing a digital work surroundings, and bettering in-house cafeteria meal service.
LG Innotek can also be making efforts for mutual development with its suppliers by technical and academic helps in addition to monetary assist together with a mutual development fund of KRW 103 billion. Particularly, the corporate can also be scrutinizing ESG dangers throughout the provide chain and bettering the suppliers’ sustainable competitiveness by implementing provider ESG assessments.
LG Innotek and its workers have additionally been energetic of their social contributions. The corporate has organized non-contact social contribution packages by which the staff can take part to proceed to offer again to native communities even below COVID-19. Final yr, LG Innotek supported about 37,000 youths and underprivileged neighbors by 163 beneficiary organizations domestically and internationally, spending a complete funds of KRW 3 billion.
Within the discipline of governance, the corporate is specializing in strengthening shareholder-friendly insurance policies and the transparency of the BOD. This yr, LG Innotek greater than doubled dividend funds from the earlier yr and launched an digital voting system for the overall shareholders’ assembly to help shareholder rights.
As for the BOD, the corporate strengthened the autonomy of the Audit Committee by establishing an impartial inside audit group to assist the committee. Apart from, LG Innotek additionally established the Inside Transaction Committee below the BOD to enhance transparency in associated transactions amongst associates.
CEO Cheoldong Jeong stated, “For a company to final for 100 years, it should fulfill social tasks whereas selling the enterprise competitiveness and buyer worth. LG Innotek will proceed to strengthen the ESG administration for sustainable development.”
About LG Innotek Co.,Ltd.
LG Innotek is a cutting-edge supplies and elements producer and an affiliate of the LG group. The corporate’s enterprise items embrace core elements for mobiles, automotive, show, semiconductors, and IoT. Moreover, the corporate has cooperated carefully with the cellular gadgets, dwelling home equipment, and automotive firms, producing digital camera modules, automotive digital elements, wi-fi communication modules, and substrate supplies.
LG Innotek is headquartered in Seoul, Korea and its gross sales subsidiaries are positioned in Germany, USA, China, Japan, and Taiwan with manufacturing subsidiaries in China, Vietnam, Indonesia, Mexico, and Poland. For extra data, please consult with the web site: www.lginnotek.com
SOURCE LG Innotek