17-02-2025
LG Energy Solution outpaces battery rivals in global sustainability rankings
Korean battery leader LG Energy Solution is being recognized in global evaluations of corporate environmental, social and governance efforts, driven by its accelerated progress toward net-zero operations.
LG Energy Solution announced Monday that it had been named an 'industry mover' by credit ratings giant S&P Global in its annual ESG performance assessment, following an increase of more than 5 percent year-on-year in its score.
Released Feb. 11, S&P's 2025 Sustainability Yearbook evaluated over 7,690 companies on their transition to more sustainable business models and contributions to carbon neutrality over the past year. The yearbook serves as a key benchmark for assessing how well companies are preparing for long-term business sustainability.
In last year's assessment, LG Energy Solution was the only electricity facility company among the 56 industry movers and, for the first time, entered the top 15 percent of the electrical components and equipment sector.
The company received high scores for its climate strategy, driven by a systematic assessment of climate risks and proactive efforts to reduce carbon emissions in line with its phased action plans, which target achieving net-zero emissions across its entire value chain by 2050.
As part of these efforts, the company strengthened its role in supporting partner businesses in reducing emissions and enhanced control over emissions generated throughout its products' life cycle. These initiatives earned the company additional recognition in various ESG evaluation criteria.
In a separate research report released at the World Economic Forum in Switzerland, commonly referred to as the Davos Forum, in January, LG Energy Solution ranked 12th among the global top 100 companies for exceptional sustainability and No. 1 among battery manufacturers.
The assessment, conducted by Canada-based research firm Corporate Knights, surveyed global business giants with annual sales exceeding $1 billion. The evaluation, announced annually at Davos, highlights companies leading in sustainable business practices.
LG Energy Solution was recognized for its energy-efficient production, transition to renewable energy sources, and eco-friendly sales and investments.
'As one of the world's largest battery-makers, LG Energy Solution is at the center of the transition to a net-zero economy,' said Corporate Knights CEO Toby Heaps. 'It has confirmed its global leadership by being selected as one of the top 100 global sustainable companies.'
Beyond its acclaimed ESG efforts, LG Energy Solution plans to accelerate its drive toward carbon neutrality. The company aims to expand its presence in the battery recycling market, establishing a closed-loop circular system to minimize waste from used batteries and regenerate materials for new battery production.
'We will continue to respond agilely and flexibly to changing business regulations and markets,' said an LG Energy Solution official. 'We believe that our ESG management will place us in a leading position to secure sustainable competitiveness and benefit our customers.'
