LS

CEO Koo Ja-Kyun of LS ELECTRIC (fifth from left) ESG Committee Chairperson Lee Won-Chang of LS ELECTRIC (fifth from right), and President Myung Roe-Hyun of LS (fourth from left) posing for a picture after the ESG management declaration.
LS ELECTRIC held the LS ELECTRIC ESG Management Declaration Ceremony on October 4 at the LS Tower in Anyang, Gyeonggi-do, and presented its ESG management vision of a ‘Sustainable Future with Green Solutions’. 

■ On October 4, LS ELECTRIC held an ESG declaration ceremony to announce its aim of realizing a ‘sustainable future with environmentally-friendly solutions’.
■ The company has selected ‘Reduce Carbon’, ‘Respect Society’ and ‘Responsible Business’ as its 3 core tasks.
■ Under the RE100 scheme, the year 2040 has been declared the year of ‘Net Zero’ with the aim of generating ‘0’ GHG emissions based on the carbon neutrality roadmap.
■ CEO Koo Ja-Kyun: “We aim to become a company that is loved, trusted and respected by its customers for our ESG philosophy.”

LS ELECTRIC recently declared 2022 to be the first year of its sustainable management (ESG) and launched a campaign to establish a corporate culture of mutual growth together with society by practicing its ESG philosophy in all areas of its business. 

LS ELECTRIC announced that it had held the ‘LS ELECTRIC ESG Management Declaration Ceremony’ on October 4 at the LS Tower in Anyang, Gyeonggi-do, with Chairman Koo and 300 other executives and employees in attendance. 

ESG management is a corporate management philosophy that focuses on long-term growth and holds a corporation accountable for its social responsibilities in three areas: Environmental, Social, and Governance.

LS ELECTRIC presented its ESG management vision of a 'Sustainable Future with Green Solutions' and vowed to fulfill its role as a global leader in the field of smart energy by harmoniously balancing its business operations with its financial performances and non-financial values.

At the event, Chairman Koo said, "The application of ESG to our business has become an essential value that will guarantee sustainable growth for the company as well as for individuals. Starting with this declaration ceremony, we must become a company that is loved, trusted, and respected by its customers and society, by adopting the ESG philosophy at every level of business management."

Chairman Koo went on to say, “Based on our smart energy business capability, we must actively prepare for the coming future and become a company that contributes to society and the regional community while leading the market.

ESG will be fully implemented only when we move beyond formal slogans to set practical goals and attain them one by one.”

To achieve ESG management, LS ELECTRIC has selected the following ‘3Rs’ as its core tasks: (Reduce Carbon Emissions) Practice environmentally friendly management based on carbon neutrality; (Respect Society) Create a safe and happy work environment; (Responsible Business) Put into practice ethical and transparent responsibility management.

Under the RE100 scheme, LS ELECTRIC will aggressively pursue ‘Net-ZERO’ emissions until 2040, driven by its commitment to protecting the environment.

NET-ZERO refers to the goal of generating ‘zero’ greenhouse gas emissions by taking measures to curtail the emissions of six major greenhouse gases generated by corporate activities.

Together with the above, LS ELECTRIC is planning to adopt the following measures: ▲ expand the development of environment-friendly products; ▲ create safe worksites; ▲ reinforce co-prosperity management for its partner companies; ▲ expand welfare and communication with employees; ▲ strengthen oversight of ethical/compliance-based business management; and ▲ establish an ESG operations system.

Meanwhile, last year, LS ELECTRIC launched the ESG committee, which reports to the board of directors, and created a team dedicated to ESG, which has developed a basic roadmap for the promotion and internalization of ESG management companywide. As a result of the company’s efforts in ESG innovation, it was awarded the 2021 Corporate Excellence in Anti-Corruption Award at the UN Global Compact Network Korea Awards. Recently, the company’s performance has been recognized by the industry, as demonstrated by receiving ‘AA’ grade in the first half of 2022 by SUSTINVEST, an ESG evaluation agency.