LG Electronics targets 100% renewables transition by 2050

South Korea’s LG Electronics Inc (KRX:066570) has set an objective of using 100% renewable energy in all its local and overseas business sites by 2050.

The transition will be achieved in stages through the installation of solar panels, the purchase of renewable energy certificates and the signing of power purchase agreements (PPAs).

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LG said in a statement it will start this process in North America, where its local subsidiary is planned to switch to renewables to cover the energy used in production, logistics and in offices by the end of 2021. By 2025, all of the group’s overseas production units will rely fully on renewable energy, it said, noting that this would represent half of the total global transition.

The electronics manufacturer pointed out that its factory in Noida, India, has already deployed a 3.2-MW solar power system.

At home in Korea, LG anticipates achieving 60% and 90% renewables in 2030 and 2040, respectively.