By Alexander Lee

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LG North America Corporate Headquarters in Englewood Cliffs, New Jersey [LG ELECTRONICS]

In a recent announcement, LG Electronics declared its commitment to exclusively utilizing renewable energy sources by the year 2050. The company outlined its phased approach to achieve this ambitious goal, beginning with its U.S. subsidiary, LG Electronics USA, which will transition to 100% renewable energy by the end of this year. This shift will encompass all aspects of their operations, from manufacturing to shipping and office facilities.

Overseas subsidiaries of LG Electronics will follow suit by 2025, leading to the remarkable milestone where half of the company's global electricity consumption will be derived from renewable sources.

The plan differs for LG Electronics' home base, South Korea, reflecting the unique policies and regulations in each country. In Korea, the company aims to transition 60% of its energy to renewable sources by 2030, increasing it to 90% by 2040. The ultimate objective is to achieve complete reliance on renewable energy for all its offices and facilities by the year 2050.

LG clarified that the varying timelines for different regions are a result of carefully considering the specific conditions and regulations of each area. An LG spokesperson emphasized, "The plan has been optimized after taking into account the different conditions in each region."

To realize these ambitious targets, LG Electronics plans to employ a range of strategies. This includes generating electricity using high-efficiency solar panels, procuring renewable energy credits (RECs), sourcing renewable energy from developers, and engaging with the Korea Electric Power Corporation (Kepco) through premium fees to access their renewable energy sources and attain certification as a renewable energy user.

As a demonstration of their commitment to sustainability, LG Electronics has already installed 3.2 megawatts of solar panel capacity at its Indian unit in Noida. This site has been registered as a United Nations Clean Development Mechanism (CDM) project, which enables the company to receive certified emission reduction credits for undertaking emission-reduction projects in developing nations.

This bold move towards renewable energy aligns with LG Electronics' earlier pledge in 2019 to achieve carbon neutrality by 2030. Park Pyung-gu, head of LG Electronics' safety environment team, expressed their dedication to environmental impact: "We will endeavor to give a positive influence to the environment for a sustainable future, carrying out various methods, such as switching to renewable energy and becoming carbon neutral to make everyone's lives better."

Reporter Alexander Lee alexanderlee_24@newsyn.co.kr