SEOUL, South Korea,
Aug. 13, 2021 /PRNewswire/ -- LG Display, the
world's leading innovator of display technologies, highlights its
ESG management by outlining the company's ESG activities and
achievements in pursuit of a greener planet in its Sustainability
Report for 2021.
To promote sustainability management and reach its goal of
becoming the most sustainable display solution company in the
world, LG Display has identified and implemented four key
strategies: Internalization of CSR, CSR risk management,
communication with stakeholders, and global engagement – all key
pillars to the company's core mission of being a sustainability
company founded on stakeholder trust.
The company has also promoted eco-friendly management throughout
the display industry with active investments and activities
designed to heighten the supply chain's eco-friendliness. And after
setting its new "Safety, Health, Energy and Environment Policy,"
the company was able to adopt an integrated standard system that
minimizes its products' environmental impact from the design,
production, distribution and logistics processes, to when they are
being used and recycled during disposal.
LG Display is just as dedicated to implementing practices
directly affecting the everyday consumer, with the company now
exclusively developing and manufacturing products that emit far
less volatile organic compounds (VOCs) than conventional displays.
LG Display has made every effort to eliminate VOCs from the supply
and manufacturing processes involved in making its panels,
including developing and manufacturing OLED TV products that emit
50 percent less VOCs than LCD TV panels by using fewer plastic
parts. LG Display's OLED additionally boasts a 92.7 percent
recycling rate, one that is higher than its LCD
counterpart. In recognition of such efforts, the company
received Eco-Product certification in 2020 from Swiss-based SGS,
the world's leading testing, inspection and certification
company.
In addition, LG Display is focused on the development and
expansion of its eco-friendly products. To that end, the company
created 'Eco Index,' which measures a company's green performance
from the product development stage to help them enhance their use
of resources, energy, and hazardous substances. The company also
recently began significantly reducing its packaging by recycling
packaging materials for OLED panels.
LG Display revealed its strategy in response to the rapidly
growing threat of climate change. The company has invested over
KRW 37 billion to replace sulfur
hexafluoride (SF6) with unregulated greenhouse gases boasting low
global warming potential values, while also establishing facilities
that help the company reduce more than 90 percent of its greenhouse
gas emissions. As a result, LG Display successfully reduced
approximately 3 million tons of CO2-eq, a 39
percent decrease from 2014.
By 2050, the company aims to have decreased company-wide
greenhouse gas emissions by 75.6 percent compared to 2014 and
achieved a 100 percent waste recycle rate, both through the
development of low-carbon clean production technologies.
Moreover, LG Display takes part in the CDP (Carbon Disclosure
Project), which is recognized as a world-renowned authority in the
field of environmental information disclosure. The company has been
rewarded for its Green House Gas reduction efforts by being
incorporated into the Carbon Management Honors Club for the fourth
consecutive year since 2017. LG Display also maintained its status
as an excellent company for 3 straight years since 2018 for its
excellence in environmental impact management.
Most notably, this year the company joined the influential
Responsible Business Alliance (RBA) which encourages close
cooperation between its members, supply chains, and stakeholders to
enhance working and environmental conditions and improve business
performance based on a proven Code of Conduct. Moreover, investment
research firm MSCI (formerly known as Morgan Stanley Capital
International) upgraded its ESG ratings for LG Display from A to AA
earlier this year, evaluating LG Display most favorably in the
areas of chemical safety, controversial outsourcing, and
opportunities in clean tech. This puts LG Display among the
highest-rated companies in South
Korea and display manufacturers worldwide.
As the world's leading display company, LG Display is focused on
constantly innovating and improving the value and quality of its
products. In 2020, the company expanded its R&D investment and
implemented 20 company-wide initiatives through Tear Down Redesign
– an organization that puts experts from various fields together on
time-based projects for solving specific problems. In addition, LG
Display outlined the work it is undertaking to create innovative,
differentiated values and opportunities in the display market based
on its strengths and competitiveness.
"We will continue to elevate our contribution to society and
meet the expectations from the stakeholders, not only on the
business results, but also in all areas of ESG, including
environment, social responsibility and governance," said
James Hoyoung Jeong, CEO of LG
Display. "As a pioneer of the OLED display industry, LG Display
will further strengthen its business portfolio centered around OLED
and grow to become a company that can offer even unexpected values
to our customers."
This year's LG Display Sustainability Report was published in a
total of four languages – Korean, Chinese, English and
Vietnamese.
About LG Display
LG Display Co., Ltd. [NYSE: LPL, KRX: 034220] is the world's
leading innovator of display technologies, including thin-film
transistor liquid crystal and OLED displays. The company
manufactures display panels in a broad range of sizes and
specifications primarily for use in TVs, notebook computers,
desktop monitors, and various other applications, including tablets
and mobile devices. LG Display currently operates manufacturing
facilities in Korea and China, and
back-end assembly facilities in Korea, China, and Vietnam. The company has approximately
63,360 employees operating worldwide. For more news and
information about LG Display, please visit www.lgdisplay.com.
Media Contact:
Jean Lee, Senior Manager, Global
Communications Public Relations Team, LG Display Co., Ltd.
Tel: (+82) 2 3777 1689 / Mobile: (+82) 10 5717 1689
Email: jean.lee@lgdisplay.com
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SOURCE LG Display