LG NAMED TO DOW JONES SUSTAINABILITY WORLD INDEX
For 11th Consecutive Year, Company Named in Globally Respected Corporate Sustainability Index for Strong Commitment to ESG Management
ENGLEWOOD CLIFFS, N.J., Dec. 13, 2022 /PRNewswire/ -- LG Electronics has earned a place in the Dow Jones Sustainability World Index (DJSI World) for the 11th consecutive year, illustrating the company's ongoing leadership in responsible ESG management.
The DJSI World lists only the top 10 percent of more than 2,500 global companies in terms of corporate sustainability, evaluating each organization based on in-depth analyses of their environmental, social and governance practices. Updated annually, the DJSI World is widely viewed by investors, governments and other key stakeholders around the globe as a reliable indicator of corporations' ESG commitment.
LG scored well in all three areas of ESG management in this year's Index. Receiving high marks for its various environmentally-focused initiatives, the company is actively reducing greenhouse gas emissions and water usage while also increasing recycling rates, converting to renewable energy sources, and making steady progress toward its goal of achieving carbon neutrality by 2030. LG reduced the total amount of direct and indirect greenhouse gas emissions from its domestic and overseas sites by 40 percent last year (compared to 2017 levels).
In terms of the social criteria measured, LG received a favorable assessment from the DJSI World for its strong efforts in supply chain management and global workplace diversity and for the creation of an inclusive culture. The company also earned a positive evaluation for implementing transparent and responsible governance practices, including the disclosure of its Board Skills Matrix (BSM) and establishment of the board guidelines on independence, expertise and diversity.
Dedicated to realizing a more inclusive society through providing products that are truly accessible, LG introduced cost-free braille stickers to enable people with visual impairments to more easily operate appliances. The company has also shown its commitment to meeting the highest global standards with the acquisition of ISO37301 certification from the British Standards Institution. Developed by the International Organization for Standardization, ISO37301 is an internationally-recognized standard for assessing whether a company's compliance management policies and risk management systems conform to global standards.
In addition to being listed in the DJSI World for 11 years in a row, LG has made the DJSI Asia Pacific Index for 13 consecutive years, and the DJSI Korea Index for 14 consecutive years. Assessing the same criteria as the DJSI World, the Asia Pacific Index includes the top 20 percent of the top 600 companies in the Asia-Pacific region, while the DJSI Korea Index recognizes the top 30 percent of the top 200 companies based in South Korea.
LG also has garnered Platinum status for the second straight year by independent, globally-trusted provider of business sustainability ratings, EcoVadis – putting LG in the top one percent of all companies in terms of sustainability initiatives. And for the last two years, LG has earned an "A" ESG grade by global investment research firm, Morgan Stanley Capital International (MSCI).
LG's ESG management practices and goals, including the mid- to long-term strategic tasks the company established earlier this year, are clearly laid out in its Better Life Plan 2030. The plan embodies LG's commitment to realizing a more inclusive and diverse society by embracing differences and forming close-knit circles of alliance with company employees, corporate partners and stakeholders.
"We will continue to do everything we can to realize our vision for a more sustainable future, leveraging our experience, innovative technologies and global presence to help make life better for all," said Hong Sung-min, head of LG's ESG department.
About LG Electronics USA
LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $63 billion global innovator in technology and manufacturing. In the United States, LG sells a wide range of innovative home appliances, home entertainment products, commercial displays, air conditioning systems, energy solutions and vehicle components. LG is 2022 ENERGY STAR® Partner of the Year-Sustained Excellence. The company's commitment to environmental sustainability and its "Life's Good" marketing theme encompass how LG is dedicated to people's happiness by exceeding expectations today and tomorrow. www.LG.com.
About LG Electronics, Inc.
LG Electronics is a global innovator in technology and consumer electronics with a presence in almost every country and an international workforce of more than 75,000. LG's four companies – Home Appliance & Air Solution, Home Entertainment, Vehicle component Solutions and Business Solutions – combined for global sales of over USD 63 billion in 2021. LG is a leading manufacturer of consumer and commercial products ranging from TVs, home appliances, air solutions, monitors, service robots, automotive components and its premium LG SIGNATURE and intelligent LG ThinQ brands are familiar names world over. Visit www.LGnewsroom.com for the latest news.
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SOURCE LG Electronics USA
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