LG Electronics Becomes The World’s First to Win Certified Emission Reduction Credits in Appliance Industry From United Nations

0
129

LG Elctronics CSRIndia CSR News Network

NEW DELHI :LG Electronics (LG)has become the world’s first to receive Certified Emission Reduction (CER)credits in appliance industry, from the Clean Development Mechanism (CDM) project encouraged by the United Nations Framework Convention on Climate Change (UNFCCC).

Established at the Kyoto Protocol, the CDM awards emission-reduction projects in developing countries with CER credits, with each credit equivalent to one ton of CO2.This cooperative mechanism allows the country or the private sector to meet their Kyoto Protocol targets while contributing to the sustainable development of developing counties through environmentally-friendly investments.

In the Indian market, LG acquired CER credits for its enhanced energy efficient refrigerators . The refrigerator project was awarded CER credits equivalent to the amount of reduced energy consumption. LG, which earned approximately seven-thousand tons in CER credit earlier this month, expects to eliminate5.8 million tons of CO2 for the refrigerator project over the next 10 years.Credits earned through this effort are expected to create as much as EUR 3.1 million (USD 3.4 million) in additional revenue, of which a portion will be donated to assist impoverished women and children in India.

“We are delighted to be able to actively respond to today’s environmental challenges with our innovative products and solutions” said Choong-hak Lee, executive vice president and head of LG’s corporate social responsibility efforts. He added ” LG is serious about its responsibility to the planet and as a leading global appliance company,we are-committed toworking with the UNFCCC”

Comments

comments

SHARE
Previous articleDigital Gender Atlas for Girls Education in India Launched
Next articleJSPL Celebrates Naveen Jindal’s Birthday as ‘Fitness Day’
India CSR Network
India CSR Network is India's biggest and most trusted news portal in the domain of CSR & Sustainability. India CSR welcomes stories, statements, updates, reports on issues that interest you. Feedback, comments will make it more purposeful and resourceful. It is designed and maintained by India CSR Group. Contents are non-fiction. Though all efforts have been made to verify the accuracy, the same should not be construed as a statement of law or used for any legal purposes. In case of any ambiguity or doubts, readers are advised to verify with the source(s). Statement, articles, views and contributions can be sent to editor@indiacsr.in