South Korean electronics giant LG Electronics is aiming to shift to renewable energy completely by 2050. The company also targets to achieve carbon neutrality by 2030.
According to the South Korean tech giant, the transition will begin at its North American headquarters in Englewood, New Jersey, which will switch entirely to electricity generated by renewables by the end of this year. All its overseas production bases will follow suit by 2025.
This will allow LG Electronics to source 50 percent of its electricity from renewables at home and abroad.
LG Electronics will raise the figure to 60 percent by 2030 and 90 percent by 2040 by using clean electricity at its domestic business sites.
LG Electronics’ plant in Noida has set up a 3.2-megawatt solar power generator and the energy used at this plant is generated entirely from such equipment. The firm is in the process of registering the facility as a project of the United Nations’ Clean Development Mechanism. Once listed, the facility would receive carbon emission rights in exchange for a reduction in consumption equivalent to 1 kilowatt-hour of electricity.
“To transition 100 percent to renewable energy, LG Electronics will generate and use electricity using highly efficient solar panels, purchase renewable energy certificates and purchase electricity directly from power generators,” a company official said. The firm will also consider paying extra for clean electricity from the Korea Electricity Power Corp.