LG Energy Solution recognized globally for sustainable management

The Korea Times - LG Energy Solution (LGES) has been recognized internationally for its constant efforts to pursue management taking account of environmental, social and corporate governance (ESG) factors.

The battery manufacturing unit of LG Group said Monday that it was selected as an "Industry Mover" by S&P Global in the global credit rating agency's Corporate Sustainability Assessment 2024.

In the annual evaluation of sustainability practices, a company that records a year-on-year increase of over 5 percent in its ESG score is categorized as an Industry Mover. Among the 56 firms selected as Industry Movers in the latest assessment, LGES was the only company engaging in the electrical components and equipment industry.

LGES was also put on the list of S&P Global's Sustainability Yearbook Members for the first time since the company's foundation in 2020, due to its climate strategies and supply chain management.

The company said that it was recognized for assessing climate risks systematically and reducing carbon emissions in line with its plan to achieve net-zero by 2050. It has also helped its subcontractors to transparently handle potential risks in supply chain management.

During the World Economic Forum last month, LGES was ranked 12th among the world's 100 most sustainable companies this year, selected by Corporate Knights, a Canada-based media and research company. The Korean firm took the top spot among the battery manufacturers on the list.

LGES attributed the achievement to its sustainable investments and management aiming for carbon neutrality.

"We will counteract the changing business regulatory environment more flexibly and swiftly," an LGES official said. "With the ESG management, we will take lead in enhancing competitiveness and creating value for customers."

LGES has made efforts for improved energy efficiency to cope with the climate crisis, increasing the use of renewable energies.

The battery maker has also tried to minimize greenhouse emissions from its manufacturing process.

Additionally, the company built a closed loop of battery resources by collecting, reusing and recycling end-of-life batteries. (Advertorial)

Source: https://www.koreatimes.co.kr/www/tech/2025/02/419_392376.html