ESG Management Strategy

Under the vision of “Creating a better today and moving towards a sustainable tomorrow through technology and products of LFC”, we have set three main strategic directions – Green Planet, Green Basis, Green Partnership – and are implementing strategic tasks aimed at establishing eco-friendly management, building a trusted company, and providing ESG information through active communication.

ESG Management Strategy System

Vision
Creating a better today and moving towards a sustainable
tomorrow through technology and products of LFC
Strategic directions
  • GREEN PLANET
    Take care of the earth
    • Reduce GHG emissions
    • Reduce use of hazardous substances
    • Manage water resources
    • Promote renewable energy
    • Adopt clean technology
    • Pursue eco-friendly business
  • GREEN BASIS
    Comply with the basics
    • Chemical safety
    • Occupational accidents
    • Anti-corruption/ethical management
    • Compliance
  • GREEN PARTNERSHIP
    Grow together
    • Human rights management
    • Win-win growth
    • Sustainable supply chain
    • Social contributions
Establishing eco-friendly management, building a trusted company, and providing ESG information through active communication
Main activities and
achievements in 2021
    • Reduce energy consumption and GHG emissions through energy efficiency and cost innovation activities
    • Complete pre-registration of newly effective UK-REACH target substances and renewal of REACH for EU/Turkey/Eurasia regions
    • Register 7 types of substances of which LFC handles at least 1,000 tons each according to the newly amended Act on the Registration and Evaluation of Chemical Substances
    • Monitor sources of wastewater in production processes, establish a target for wastewater generation, and manage the daily status and increase wastewater recycling by improving the relevant processes, and reduce water use and wastewater generation
    • Promote “green ammonia” as an eco-friendly business and future growth engine
    • Appoint a CSO directly under the CEO and create the “SH&E Management Team” tasked with overall safety and environment work under the CSO
    • Review internal data related to safety and the environment to prevent serious accidents and conduct self-diagnosis based on related laws
    • Participate in the global anti-corruption project BIS pledge
    • Introduce new online courses, post-tests, and quiz events to enhance the effectiveness of CP education
    • Conduct performance diagnosis and monitoring and employee compliance surveys in the areas of compliance, fair trade, disclosure, and internal accounting in cooperation with the Compliance Office of LOTTE Corporation
    • Establish human rights policies for each stakeholder and conduct human rights policy education led by the CEO for executives and employees
    • Hold regular meetings with partner companies, expand longterm contracts for stable business operation, and promote win-win growth initiatives such as online learning support
    • Establish long-term partnerships by providing incentives such as selecting excellent companies and prioritizing the renewal of contracts by applying the ex-post evaluation system improved in 2020
    • Diversify social contribution activities and expand chemical industry linkage while promoting new fire-fighting agencylinked projects to help boost community safety