LG Electronics has joined RE100 (Renewable Energy 100), saying it will convert its business sites to 100 percent renewable energy by 2050.
LG will increase its usage of electricity from renewable sources, such as solar and wind power, to 60 percent by 2030 and 90 percent by 2040, arriving at its target of 100 percent by 2050.
LG will be expanding the usage of renewable energy via the installation of solar panels at LG offices and manufacturing facilities. LG will be implementing a variety of additional measures, such as acquiring renewable energy certificates (RECs), signing renewable energy power purchase agreements (PPAs) and, in South Korea, paying Korea Electric Power Corporation’s (KEPCO) green premium.
Last year, LG signed a direct PPA with GS EPS, a Korean power generation company, to build a solar power station equivalent to the size of three soccer fields on the roof of the existing integrated production building at LG Smart Park in Changwon, South Korea by 2025. Some solar panels have generated power for select buildings since last December.
Around the world, LG has installed solar panels on rooftops of several of its offices, including the LG Sciencepark R&D complex in Seoul, South Korea; the North American Headquarters campus in New Jersey, USA; LG India’s office building in Greater Noida, India; and the Rayong home appliance factory in Thailand.
By converting to renewable energy, the company is also reducing indirect carbon (scope 2) emissions generated while using power. In 2019, LG announced its Zero Carbon 2030 pledge to reach net-zero (direct and indirect) carbon dioxide emissions (scope 1 and 2) by the year 2030.
“Through ongoing efforts and innovation, LG is well on its way to achieving its goals of converting to 100 percent renewable energy and becoming a carbon neutral business,” said Lee Sam-soo, chief strategy officer at LG Electronics.