CIG: South Korea’s LG to cut greenhouse gas emissions by 40% by 2020.

April 12, 2010 - PRLog -- CIG has learned of South Korea’s LG Group’s recent announcement that it is to invest $17.7 billion (20 trillion won) by 2020 into the development of environmentally friendly products as the firm strives to cut its greenhouse gas emissions by 40% against 2009 levels over the next 10 years.

The new initiative will see the company aiming to cut 50 million tonnes of greenhouse gas emissions every year through 2020, while also growing its production of energy efficient and renewable energy products to 10% of the group’s total revenue by the end of the decade.

LG also announced that it will increase the energy efficiency of its traditional products such as fridges and air conditioning units as well as further developing its present investment into fuel cells, electric car batteries and solar cells, CIG was informed.

"By making excellent products whose energy efficiency can be independently verified, LG is at the forefront of international efforts by manufacturers to conserve energy,” CIG was told the chief executive of LG Electronics recently said.

LG’s initiative is in line with South Korea’s drive as one of the globes fastest growing clean tech hubs. The country is currently ranked as the world’s ninth largest polluter but the nation’s government was one of the first in Asia to announce a voluntary emissions cut target, pledging to cut emissions by 30% of business as usual levels by 2020.

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