(LG Energy Solution)
LG Energy Solution said Wednesday it will run its production facilities around the world 100 percent with renewable energy from 2025 as part of efforts to meet its 2050 carbon neutrality goals.
The world’s second-largest battery maker for electric vehicles renewed its commitment to the RE100 initiative in its recent report on environment, social and corporate governance.
As of 2020, the company’s renewable energy transition rate stood at 33 percent, the highest among a total 14 South Korean firms that have joined the RE100 pledge. By the end of this year, it aims to elevate the rate to more than 60 percent.
In the long term, the company said it plans to achieve net zero carbon emissions by 2040 and implement the RE100 initiative throughout the whole value chain from securing raw materials to battery production by 2050.
“Under an ultimate goal of going carbon negative, LG Energy Solution will ramp up efforts to play a leading role in global efforts to tackle climate change,” LG Energy Solution CEO and Vice Chairman Kwon Young-soo said in a statement.