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Supplementary Stories

LG Energy Solution’s Pledge to Preserving Biodiversity

  • LG Energy Solution has established policies to conserve biodiversity across all subsidiaries and R&D centers.
  • Collaborating with stakeholders, including partner companies and local communities, to raise awareness of the importance of biodiversity

Biodiversity, or all life existing within the world’s ecosystems, recently received attention with the latest World Economic Forum (WEF) Global Risks Report highlighting biodiversity loss as the third major risk of the coming decade. This call to action is putting greater importance on coming up with new ways to address a worldwide problem that has historically been given less thought than other ESG (Environmental, Social, and Governance) issues like climate change and human rights violations.

In response, LG Energy Solution has formulated policies to protect biodiversity that align with ESG reporting requirements and meet stakeholders’ needs. These policies demonstrate a firm commitment to preserving biodiversity and highlight the importance of raising people’s awareness.

Biodiversity and natural capital (Source: CBD-CHM KOREA)
Biodiversity and natural capital

Biodiversity remains a highly debated topic within the international community. The term biodiversity has evolved from simply referring to the number of species present, known as species diversity, to now encompassing a holistic understanding that includes genetic diversity and ecosystem diversity. Therefore, where there’s a loss in biodiversity, there’s a reduction in the area’s inhabiting species, genetic diversity, and habitats.

While the degradation of ecosystems due to climate change can lead to the extinction of entire species, improving biodiversity can aid in the absorption and breakdown of environmental pollutants. This process purifies the air and water while maintaining soil fertility and suitable climatic conditions.

The kit fox, an endangered species
The kit fox, an endangered species

LG Energy Solution holds a deep respect for global agreements and initiatives that promote biodiversity conservation, such as the Convention on Biological Diversity (CBD), Glasgow Leaders’ Declaration on Forests and Land Use, Science Based Target Network (SBTN), and Taskforce on Nature-related Financial Disclosures (TNFD). These commitments serve as guideposts on LG Energy Solution’s journey to fulfilling internationally agreed-upon objectives, showcasing its dedication to making a tangible difference on the global stage.

In harmony with the Kunming-Montreal Global Biodiversity Framework (GBF) and the Conservation Targets (2030 Targets) outlined at the 15th meeting of the Conference of the Parties to the CBD, LG Energy Solution has adopted these objectives through a deep respect for its commitment to environmental sustainability.

Burrowing owl, another endangered species, observed onsite
Burrowing owl, another endangered species, observed onsite

Alongside its creation of biodiversity policies, LG Energy Solution has been collaborating with local environmental agencies, authorities, habitat conservation organizations, and residents to restore biodiversity and promote greater forest conservation. For instance, in August 2023, LG Energy Solution teamed up with the local environmental organization, Environmental Resources Management (ERM), to safely relocate the habitats of burrowing owls and kit fox discovered around its plant in Queen Creek, Arizona. This collaborative effort has effectively prevented ecological disruption caused by corporate activities and continues to help preserve the biodiversity of the area.

LG Energy Solution’s policy on biodiversity conservation and deforestation prevention aspires to not only safeguard biodiversity at its business sites but also embody its commitment, principles, and approach as follows: No Net Loss (NNL), Net Positive Impact (NPI), No Gross Deforestation (NGD), and No Net Deforestation (NND). This helps LG Energy Solution create changes that go beyond its headquarters, production facilities, R&D laboratories, and subsidiaries. LG Energy Solution is also encouraging collaborating companies and service providers to comply and actively participate in related activities.

By establishing its own biodiversity policies, LG Energy Solution proves its dedication to preserving and cherishing diverse species. With biodiversity conservation now top of the world’s agenda, LG Energy Solution is fully embracing it as a core commitment.