LG Innotek: A Beacon of ESG Excellence** **
July 26, 2024, 9:28 am
Location: France, Ile-de-France, Paris
Employees: 1001-5000
Founded date: 2007
Total raised: $731.54M
Location: Poland, Lower Silesian Voivodeship, Kobierzyce
Employees: 5001-10000
Founded date: 1970
**
In a world increasingly driven by sustainability, LG Innotek shines like a lighthouse. On July 24, 2024, the company proudly announced its achievement of a "Platinum" rating from EcoVadis, the leading global ESG ratings organization. This accolade places LG Innotek in the top 1% of over 130,000 assessed companies worldwide. The journey to this pinnacle is marked by a commitment to environmental stewardship, social responsibility, and robust governance.
Founded in Paris in 2007, EcoVadis evaluates companies across four key categories: environment, labor rights, ethics, and supply chain. LG Innotek has not only met but exceeded expectations in all these areas. The company’s dedication to sustainability is evident in its ambitious goals: "2030 RE100" and "2040 Carbon Neutrality." These targets are not mere aspirations; they are a roadmap for the future.
In 2023, LG Innotek transitioned 61% of its electricity consumption to renewable sources. This shift resulted in a significant reduction of approximately 267,000 tonnes of carbon dioxide equivalent emissions. To put that into perspective, it’s akin to planting 40 million 30-year-old pine trees. Such numbers tell a story of commitment and action.
The company’s approach to renewable energy is multifaceted. LG Innotek has secured power purchase agreements (PPAs) and renewable energy certificate (REC) contracts with major domestic energy providers. This strategy ensures a stable supply chain for renewable energy. Additionally, the company is expanding its solar power generation facilities both domestically and internationally. Participation in the Green Premium program further underscores its commitment to eco-friendly practices.
But LG Innotek’s vision extends beyond environmental concerns. The company recognizes that a thriving workplace is built on equality and diversity. It has made significant strides in labor rights, creating an inclusive environment for all employees. In 2012, LG Innotek established Innowith, a subsidiary dedicated to hiring individuals with disabilities. This initiative is not just a checkbox; it reflects a genuine commitment to social responsibility.
The recognition as a "Good Company for Equal Employment Opportunity" by the Korean Ministry of Employment and Labour is a testament to LG Innotek’s efforts. The company has actively increased the number of women in management positions, fostering a culture of empowerment and inclusivity. An anonymous internal communication channel, Inno Voice, promotes open dialogue among employees, further enhancing workplace culture.
In a rapidly changing global landscape, LG Innotek understands the importance of transparency and accountability. The company’s governance framework is designed to build trust with stakeholders. By adhering to high ethical standards, LG Innotek positions itself as a leader in responsible business practices.
The CEO of LG Innotek emphasizes the urgency of demonstrating actual ESG performance. As regulations evolve, companies must rise to the occasion. LG Innotek is not just responding to these changes; it is leading the charge. The company’s strategic directions—“Green management for a healthier planet,” “Partnerships for elevating social value,” and “Trustworthy Governance”—are not just slogans; they are guiding principles.
As LG Innotek continues its journey, it sets a powerful example for others in the industry. The path to sustainability is not without challenges, but LG Innotek’s resolve is unwavering. The company’s achievements serve as a reminder that businesses can thrive while prioritizing the planet and its people.
In conclusion, LG Innotek’s Platinum rating from EcoVadis is more than an accolade; it is a reflection of a deep-seated commitment to sustainability. The company’s efforts in renewable energy, labor rights, and governance paint a picture of a responsible corporate citizen. As the world looks to the future, LG Innotek stands ready to lead the way, proving that success and sustainability can go hand in hand. In the vast ocean of corporate responsibility, LG Innotek is a beacon, guiding others toward a brighter, greener future.
In a world increasingly driven by sustainability, LG Innotek shines like a lighthouse. On July 24, 2024, the company proudly announced its achievement of a "Platinum" rating from EcoVadis, the leading global ESG ratings organization. This accolade places LG Innotek in the top 1% of over 130,000 assessed companies worldwide. The journey to this pinnacle is marked by a commitment to environmental stewardship, social responsibility, and robust governance.
Founded in Paris in 2007, EcoVadis evaluates companies across four key categories: environment, labor rights, ethics, and supply chain. LG Innotek has not only met but exceeded expectations in all these areas. The company’s dedication to sustainability is evident in its ambitious goals: "2030 RE100" and "2040 Carbon Neutrality." These targets are not mere aspirations; they are a roadmap for the future.
In 2023, LG Innotek transitioned 61% of its electricity consumption to renewable sources. This shift resulted in a significant reduction of approximately 267,000 tonnes of carbon dioxide equivalent emissions. To put that into perspective, it’s akin to planting 40 million 30-year-old pine trees. Such numbers tell a story of commitment and action.
The company’s approach to renewable energy is multifaceted. LG Innotek has secured power purchase agreements (PPAs) and renewable energy certificate (REC) contracts with major domestic energy providers. This strategy ensures a stable supply chain for renewable energy. Additionally, the company is expanding its solar power generation facilities both domestically and internationally. Participation in the Green Premium program further underscores its commitment to eco-friendly practices.
But LG Innotek’s vision extends beyond environmental concerns. The company recognizes that a thriving workplace is built on equality and diversity. It has made significant strides in labor rights, creating an inclusive environment for all employees. In 2012, LG Innotek established Innowith, a subsidiary dedicated to hiring individuals with disabilities. This initiative is not just a checkbox; it reflects a genuine commitment to social responsibility.
The recognition as a "Good Company for Equal Employment Opportunity" by the Korean Ministry of Employment and Labour is a testament to LG Innotek’s efforts. The company has actively increased the number of women in management positions, fostering a culture of empowerment and inclusivity. An anonymous internal communication channel, Inno Voice, promotes open dialogue among employees, further enhancing workplace culture.
In a rapidly changing global landscape, LG Innotek understands the importance of transparency and accountability. The company’s governance framework is designed to build trust with stakeholders. By adhering to high ethical standards, LG Innotek positions itself as a leader in responsible business practices.
The CEO of LG Innotek emphasizes the urgency of demonstrating actual ESG performance. As regulations evolve, companies must rise to the occasion. LG Innotek is not just responding to these changes; it is leading the charge. The company’s strategic directions—“Green management for a healthier planet,” “Partnerships for elevating social value,” and “Trustworthy Governance”—are not just slogans; they are guiding principles.
As LG Innotek continues its journey, it sets a powerful example for others in the industry. The path to sustainability is not without challenges, but LG Innotek’s resolve is unwavering. The company’s achievements serve as a reminder that businesses can thrive while prioritizing the planet and its people.
In conclusion, LG Innotek’s Platinum rating from EcoVadis is more than an accolade; it is a reflection of a deep-seated commitment to sustainability. The company’s efforts in renewable energy, labor rights, and governance paint a picture of a responsible corporate citizen. As the world looks to the future, LG Innotek stands ready to lead the way, proving that success and sustainability can go hand in hand. In the vast ocean of corporate responsibility, LG Innotek is a beacon, guiding others toward a brighter, greener future.