LG Innotek Publishes The 10th Sustainability Report2019.10.23
The company looks back on its 10 years in the 10th anniversary of its sustainability report publication.
LG Innotek announced today that it published the 2018-2019 Sustainability Report, which shows its major achievements in the economic, environmental and social sectors.
The company has published sustainability reports every year to share management activities and communicate with stakeholders for a better future. The 2018-2019 Sustainability Report is the tenth edition since its first publication in 2010.
In particular, LG Innotek celebrated the 10th anniversary by comparing and organizing its sustainability performance between 2009 and 2018. Through this, people can see LG Innotek’s changes over the past decade at a glance.
First, in the economy sector, sales and R&D investment increased drastically. In 2018, LG Innotek recorded sales of 7.9 trillion KRW, up 3.6 times from 2.2 trillion KRW in 2009. R&D investment also quadrupled to 526.2 billion KRW last year compared to 10 years ago. According to the Korea Institute for Advancement of Technology (2017), LG Innotek ranked 12th in R&D investment among the top 100 Korean companies.
In the environmental sector, the company continued to expand investment for building eco-friendly work sites and to reduce greenhouse gas (GHG) emissions. LG Innotek invested a total of 17.9 billion KRW last year to introduce new and renewable energy and high-efficiency facilities. It is about three times more than that in 2009, 6.1 billion KRW. The GHG emissions per unit, which represents GHG emissions to sales, was 4.6tCO2eq per 0.1 billion KRW, nearly half the amount of 8.9tCO2eq per 0.1 billion KRW 10 years ago.
LG Innotek received “CDP (Carbon Disclosure Project) Water Award” and “CEM (Clean Energy Ministerial) Insight Award” last year for its eco-friendly management performance, and was selected as an “Excellent Company in Korea-EU Carbon Credit Trading System” this year.
In the social sector, the company actively carried out social contribution activities for the underprivileged, the disabled, and the youth to resolve social issues. The annual number of employees participating in the volunteer services has increased nearly 5 times from 1,239 in 2009 to 5,730 in 2018. Employee volunteering hours also increased by 56 times in 10 years from 750 hours per year to 41,700 hours per year.
The company also continued to carry out shared growth activities to build a win-win cooperation culture with its suppliers. The company has made various win-win efforts in the fields of finance, technology, management, and education, including a 63 billion KRW win-win growth fund, CSR consulting and online/offline education support. As a result, it received the highest rating for three consecutive years, according to the 2019 Shared Growth Index.
Chung Cheol-Dong, LG Innotek’s CEO, said, “We will become a ‘fundamentally sound company’ that pursues sustainable growth with the trust of stakeholders.” He also said, “We will communicate with our stakeholders through various channels and actively reflect their opinions and advices in our management.”
LG Innotek’s Sustainability Report was verified by the Korea Productivity Center, a third-party verification agency, to increase its credibility. It also complies with the Global Reporting Initiative (GRI) standards, an international reporting standard for sustainability management. The report can be found in the LG Innotek’s website (http://visit.news/innotek3)