{"id":20549,"date":"2023-07-21T13:00:00","date_gmt":"2023-07-21T13:00:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4163657_CN63657_0"},"modified":"2023-07-21T13:00:00","modified_gmt":"2023-07-21T13:00:00","slug":"lg-innotek-published-the-2022-2023-sustainability-report","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=20549","title":{"rendered":"LG Innotek published the 2022-2023 Sustainability Report"},"content":{"rendered":"<table name=\"logo_release\" border=\"0\" cellspacing=\"10\" cellpadding=\"5\" align=\"right\">\n<tbody>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/1681506\/Logo.jpg?p=medium600\" border=\"0\" alt title=\"logo\" hspace=\"0\" vspace=\"0\" width=\"118\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul type=\"disc\">\n<li>Achieved 20% carbon neutrality within one year after the declaration and increased shareholder-friendly policies such as the 10% dividend payout ratio<\/li>\n<li>Increased investment in R&amp;D by 33% from the previous year to strengthen the competitiveness of future business<\/li>\n<\/ul>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">SEOUL, South Korea<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">July 21, 2023<\/span><\/span> \/PRNewswire\/ &#8212; <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3925320-1&amp;h=2873769561&amp;u=https%3A%2F%2Fwww.lginnotek.com%2Fmain%2Fmain.do%3Flocale%3Den&amp;a=LG+Innotek\" target=\"_blank\" rel=\"nofollow noopener\">LG Innotek<\/a>&nbsp;(CEO <span class=\"xn-person\">Jeong Cheol<\/span>-dong) announced on the 21st that it had published the &#8216;2022-2023 Sustainability Report&#8217; that covers the performance of ESG (Environmental\u00b7Social\u00b7Governance) management.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\" readability=\"7\">\n<p> <a href=\"https:\/\/mma.prnasia.com\/media2\/2159038\/1_LG____2022_2023.html\" target=\"_blank\" rel=\"nofollow noopener\"> <img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/2159038\/1_LG____2022_2023.jpg?p=medium600\" title=\"LG Innotek published the 2022-2023 Sustainability Report\" alt=\"LG Innotek published the 2022-2023 Sustainability Report\"> <\/a> <br \/><span>LG Innotek published the 2022-2023 Sustainability Report<\/span><\/p>\n<\/p><\/div>\n<p>LG Innotek achieved meaningful results previous year by performing substantial ESG management activities to enhance corporate value.<\/p>\n<p>In the <b><u>environmental<\/u><\/b> field, LG Innotek joined &#8216;RE100&#8217; and decided to use renewable electricity in all workplaces by 2030. At the same time, LG Innotek declared that it would achieve 100% Carbon Neutrality by 2040. LG Innotek also joined the Science Based Targets initiative (SBTi) to systematically carry out carbon neutrality activities.<\/p>\n<p>LG Innotek has already achieved the goal quickly by recording the renewable electricity conversion rate of 22% (RE22) and carbon neutrality rate of 20%.<\/p>\n<p>In 2022, LG Innotek received the &#8216;Minister Prize from the Ministry of Environment&#8217; as the leading company in resource circulation in recognition of its efforts for resource circulation, such as the development of a waste management system, reusing process subsidiary materials, and reducing the use of plastic packaging materials.<\/p>\n<p>Besides, Gumi, Pyeongtaek, and Gwangju plant of LG Innotek have obtained the &#8216;ZWTL (Zero Waste to Landfill)&#8217; certification from UL(Underwriters Laboratories) Solutions, a global safety certification body. In particular, the Pyeongtaek plant acquired the highest grade &#8216;Platinum&#8217; last year by achieving 100% resource circulation following the Gumi plant.<\/p>\n<p>In the <b><u>social<\/u><\/b> field, there is noteworthy in this Sustainability Report that employees participated a lot of social contribution activities. Since the company&#8217;s online social contribution portal had launched in 2022, more than 3,000 employees have actively participated in various forms of social contribution activities, such as online donation funding and non-face-to-face volunteering.<\/p>\n<p>LG Innotek was selected as the most excellent company for 6 consecutive years in the Win-Win Growth Index operated by Korea Commission for Corporate partnership.<\/p>\n<p>Furthermore, LG Innotek received Grand Prize from the Great Place to Work in Korea Award in recognition of its excellent corporate culture.<\/p>\n<p>In the field of <b><u>governance<\/u><\/b>, LG Innotek has focused on creating a transparent and sound business environment. As a result, LG Innotek received ISO 37301 (Compliance Management System) certification, Excellent Anti-corruption Company at the&nbsp;Business Integrity Society Summit (BIS)&nbsp;hosted&nbsp;by United Nations Global Compact (UNGC) Korea, and ISO 22301 (Business Continuity Management System) certification last year.<\/p>\n<p>LG Innotek has also strengthened shareholder-friendly policies. In 2022, LG Innotek paid a total of <span class=\"xn-money\">KRW 98.2 billion<\/span> as a dividend per share, which is a significant increase from the previous year (<span class=\"xn-money\">KRW 71 billion<\/span>). As a result, LG Innotek successfully implemented its dividend policy of maintaining a dividend payout ratio of 10% or more until 2024.<\/p>\n<p>In addition to ESG management, the Sustainability Report highlights LG Innotek&#8217;s various efforts to secure the competitiveness of future business.<\/p>\n<p>LG Innotek invested <span class=\"xn-money\">KRW 752.8 billion<\/span> in R&amp;D last year to advance original technology and identify new value-added businesses in future growth areas. The amount had a 33% increase from 2021 (<span class=\"xn-money\">KRW 564.2 billion<\/span>). During the same period, LG Innotek also expanded industry-university collaboration significantly by doubling the number of industry-university projects.<\/p>\n<p>&#8220;LG Innotek will continue ESG management faithfully as&nbsp;&#8216;Global No.1 Material and Component Company&#8217; that provides differentiated customer value.&#8221; said CEO <span class=\"xn-person\">Jeong Cheol<\/span>-dong.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Achieved 20% carbon neutrality within one year after the declaration and increased shareholder-friendly policies such as the 10% dividend payout ratio Increased investment in R&amp;D by 33% from the previous year to strengthen the competitiveness of future business SEOUL, South Korea, July 21, 2023 \/PRNewswire\/ &#8212; LG Innotek&nbsp;(CEO Jeong Cheol-dong) announced on the 21st that [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":20550,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-20549","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - 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