INSPIRATION
Young consumers standing in a field with wind turbines
Over the last decade, many companies have recognised the significance of sustainability and its potential for innovation, growth, and mitigating environmental issues.
Through strategic partnerships and eco-conscious collaborations, LG is dedicated to delivering a sustainable future. This includes working towards carbon neutrality, re-evaluating product life cycles, reducing waste and adopting new eco-friendly technologies.
Read on to discover more about LG’s commitment to creating more ambitious plans for the future.
Sustainability has become a major focus for businesses due to several factors, such as government regulations, growing consumer demand and increased awareness of environmental impact. While profit was traditionally the main focus, there is now a shift towards considering profit, people and the planet.
Younger consumer who cares about the environment researching sustainable initiatives for sustainable companies
Consumers have also played their part in influencing this line of thinking, with a survey in 2021 finding that 75% of consumers in Europe are willing to pay more for sustainable products.1
This is particularly true among younger consumers who care about the environment and will look to purchase products from sustainable companies.
Collaboration is vital for the future. LG is forming collaborations with like-minded, eco-conscious companies to address sustainability issues. These partnerships aim to improve energy efficiency, lower emissions in product life cycles and promote recycling/upcycling initiatives. This aligns with global efforts of governments sharing knowledge and expertise to combat the climate crisis.
IFA 2023 LG Electronics : LG Sustainable Village "sustainable companies"
This was seen at IFA 2023 when LG sent 200 kg of fabric used at its sustainable village to the Lichtenberger Werkstätten gemeinnützige (LWB) in Berlin.2 LWB, which provides vocational training for over 600 people with disabilities, then transformed the fabric into around 3,000 upcycled items.
With a commitment to help create better practices in the future resulting in reducing emissions, conserving resources and making living more sustainable, LG has formed several partnerships. We’ll delve into some of the most important below:
A strategic partnership struck in 2022 saw LG combine its leading laundry technology with Diversey’s chemical, dispensing and engineering solutions.3 The result was a series of new laundry programs for the UK and Irish markets that may help customers reduce costs through energy, chemical and water consumption.
A commitment made in 2023, LG confirmed that it would provide support to 50 of its suppliers to undergo an evaluation by the Société Générale de Surveillance,4 a respected provider of verification, testing and certification, to assess environmental, social and governance (ESG) risks.
LG has been taking widespread measures to ensure it delivers better practices in the future and meets its target of achieving carbon neutrality by 2030. From product design to manufacturing, they are incorporating innovative technologies to deliver more energy-efficient modes. They also set a target to use a cumulative 600,000 tons of recycled plastics from 2021 to 2030.5
Couple separating recyclable materials (plastic bag, plastic bottle and paper)
LG has also been actively engaged in take-back and recycling programs in Europe since 2005, while more and more of its offices and production buildings are being powered by renewable energy. LG intends to have all LG workplaces around the world using entirely renewable energy by 2050.6
As LG continues to work towards launching cutting-edge products and improving the environmental impact of its products, it is also ensuring that its partners are putting sustainability at the forefront of their plans.
young consumer in a field with wind turbines
As part of LG’s ESG strategy, LG Electronics has joined Climate group RE100 which is a global campaign that brings together nearly 300 of the largest companies in the world. The goal of the RE100 is to use 100% renewable energies by 2050, and LG aims by 2030 to use 60% of its electricity from renewable energy sources, including solar and wind power. By 2040, LG aims to use 90% of its electricity and lastly by 2050, LG aims to use 100%.7
Another way LG contributes to industry progress is by publishing a sustainability report each year, that covers the company’s strategies, achievements and plans regarding its ESG activities.
Developing new technology has always been of the utmost importance at LG and now innovation goes hand-in-hand with sustainability. That is why the company has become a founding member of the Consumer Technology Circularity Initiative (CTCI), a groundbreaking voluntary industry program.8
LG stanbyme outdoor lifestyle, living room, balcony setting
The CTCI highlights industry innovations across the lifecycle of consumer technology products that aim to reduce waste, stimulate more reuse, enhance recycling, reduce climate impact and result in less disposal of consumer electronics.
A great example of LG’s innovation in this area is the use of recycled plastics in 19 product categories and the development of packaging materials containing 50% waste polystyrene while expanding the use of recycled vinyl.9
LG is working hard to ensure that its products contribute to a more sustainable world by developing new technology, embracing the circular economy, and collaborating with eco-conscious companies.
Life's Good!
1 Bain & Company: European consumer survey on sustainability issues
2 LG Newsroom: End-to-end sustainability at IFA 2023
3 PR Newswire: Diversey and LG Electronics announce strategic partnership
4 LG Newsroom: Empowering Global Partners and Suppliers to Build a Sustainable Future Together
5 LG Sustainability Report: 2022-2023
6 LG: Carbon Neutrality
7 LG Newsroom: LG Joins RE100 Initiative
8 Consumer Technology Circularity Initiative: LG’s efforts with CTCI
9 LG Corp: LG Sustainability Leadership Highlighted In New Consumer Technology Circularity Initiative
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