LG Energy Commits to Transparent ESG with TCFD
LG Energy Solution
LG Energy Solution has announced its endorsement of the Task Force on Climate-related Financial Disclosures (TCFD), aligning itself with the worldwide effort to promote clear and accountable ESG (Environmental, Social, and Governance) practices.
Following the 2015 G20 Finance Ministers and Central Bank Governors meeting, the Task Force on Climate-related Financial Disclosures (TCFD) was founded by the Financial Stability Board (FSB) as a significant international organisation dedicated to climate finance.
Its purpose is to develop a standardised framework for disclosing financial risks associated with climate change that companies, banks, and investors can use to provide accurate information to their stakeholders.
As North American and European governments continue to implement strict environmental regulations, more and more companies are aligning with the TCFD to enhance their corporate values. This is because clients and investors are increasingly requiring companies to demonstrate their ESG activities and performances.
BlackRock and other prominent global asset management companies are now demanding that their investees support the TCFD, and as of the end of 2022, about 4,200 companies worldwide have declared their support for this initiative. LG Energy Solution (LGES) is the first Korean battery manufacturer to publicly announce its endorsement of the TCFD.
We will closely manage and transparently disclose the information on the business factors related to climate change, which can take place throughout the entire battery lifecycle, from manufacturing and use to disposal, thereby further strengthening our ESG activities,” said LG Energy Solution.