Latest news with #GHGemissions
Al Bawaba
2 days ago
- Business
- Al Bawaba
LG's Latest Sustainability Report Highlights Progress Toward 2030 Environmental Goals
LG Electronics (LG) has released its 2024–2025 Sustainability Report, highlighting the company's strong progress toward its 2030 environmental targets, including reductions in greenhouse gas (GHG) emissions and advancements in resource circularity. The report outlines the company's wide-ranging efforts to embed sustainability into its operations as part of its vision for a Better Life for All. In 2024, LG's Scope 1 (direct) and Scope 2 (indirect) emissions totaled 910,000 tons of CO₂ equivalent (tCO₂eq), bringing the company close to its 2030 goal of 878,000 tons. The company had previously set itself the goal to reduce GHG emissions by 54.6 percent (compared to 2017 levels) by 2030. The early achievement of this goal was driven by proactive adoption of energy-efficient equipment and carbon-reduction technologies across multiple production processes. LG is also making headway in cutting Scope 3 emissions from product use through expanded application of AI and other energy-saving technologies. In 2024, the company reduced product carbon emissions by 19.4 percent compared to 2020. Notably, LG was the first South Korean home appliance manufacturer to have its emissions reduction targets validated by the Science Based Targets initiative (SBTi). These targets include a 20 percent cut in Scope 3 emissions across seven key product categories by 2030 (based on a 2020 baseline). Progress has also been made in resource circulation. LG achieved a 97.4 percent waste recycling rate at its global production sites in 2024 – surpassing its 2030 goal of 95 percent. The company also collected 532,630 tons of used electronics from 91 locations in 56 countries last year, bringing its cumulative total since 2006 to over 5 million tons. Additionally, LG increased the amount of recycled plastic used in its products by 36 percent year-over-year. LG remains committed to enhancing accessibility in its products and services. The LG Comfort Kit, designed to make appliances easier to use regardless of age, gender or ability, now includes four products. Accessibility features such as screen reading and simultaneous audio output for hearing aids and speakers on LG OLED TVs, as well as kiosks with height adjustment and tactile keypads, further reflect this commitment. The company also provides inclusive services including disability care programs, sign language consultations, senior support, and in-store educational sessions on safety, IT and culture. LG continues to strengthen its approach to responsible management through a governance structure rooted in compliance and ethics. The company's board of directors is guided by principles of independence, expertise and transparency, while its ESG Committee plays an expanding role in overseeing sustainability initiatives. In its supply chain, LG supports shared growth through third-party ESG audits aligned with Responsible Business Alliance (RBA) standards. As a result of its continued efforts, LG ranked in the top 1 percent of S&P Global's Corporate Sustainability Assessment (CSA) for the second year in a row. The company has also earned an 'A' grade from Morgan Stanley Capital International (MSCI) for five consecutive years and has been included in the Dow Jones 'Best-in-Class World Index' for 13 straight years.
Fast Company
3 days ago
- Business
- Fast Company
A focus on sustainability's return on investment
For the past year, I've had the opportunity to apply my experience in sector diversified financial services, sustainability, and operational leadership at RE Tech Advisors. I oversee a suite of solutions and services allowing real estate portfolio managers/owners a pathway to integrate and communicate their sustainability efforts. What I've seen in this sector aligns with many other sectors I've worked with. ROI is the predominant motivation for action—short-term ROI via operational cost efficiencies and revenue attraction, and long-term ROI setting up operational resilience in a changing environment. The ROI focus applies to both traditional initiative and sustainability initiative decisions. The line begins to blur when key sustainability initiatives are considered as key operational efforts, the same way as traditional ROI. This is how RE Tech Advisors helps real estate owners find key ROI initiatives with strategic action plans to manage risks and optimize performance. Reduce greenhouse gas emissions (GHGs) Whether you are creating an action plan to reduce your GHG footprint to comply with building performance standards policies, or you're developing a proactive decarbonization action plan to reduce a building's carbon footprint, these can significantly reduce costs: Reduce energy consumption costs: Implementing high efficiency HVAC, better insulation, and smart system integrations such as smart lighting, can reduce energy cost estimates by 30% to 50% in new and existing buildings. Identify operational inefficiencies: Through real-time data analysis and continuous performance monitoring, building managers can adjust or replace systems to improve efficiency based on actual usage energy and water usage patterns. Reduce maintenance costs: Increase energy efficiency and conduct proactive maintenance to realize cost savings through reduced emergency repairs and extending building components' lifespans. Avoid noncompliance fines: Fine amounts varies by jurisdiction, but penalties for policy noncompliance can be a significant expense, based on location and building size. Tax incentives and green financing: Decarbonization roadmaps can unlock millions in funding from programs such as NYSERDA and Fannie Mae and Freddie Mac's Green Financing program. Physical risk management Physical risk management plans help mitigate potential physical building damage from sporadic weather events such as floods, hurricanes, and tsunamis, plus increasing temperature severity and climate pattern changes. Action plans can include installing flood barriers, storm shutters, upgraded drainage systems, impact-resistant windows, reinforced roofs, and elevated foundations. These investments can lead to short-term cost savings, better resilience, and longer-term ROI. Recognized benefits include: Lower insurance premiums: Most insurance companies now integrate physical climate risk scenarios in stress test modelling to calculate premiums accounting for potential risk of future loss. This increasingly influences insurance premiums. Lower costs from severe weather damage: According to from 2020-2024, the cost of climate-related damage in the U.S. was $746.7 billion; the annual average exceeded $149 billion. This financial impact is more than double the annual average of $64.8 billion from 1980 to 2024. Build to higher standards: A study by the U.S. Chamber of Commerce showed that for every $1 invested in disaster preparation, communities save $13 in economic costs, damages, and cleanup. One example showed, '$83 million of investments in resilience and preparedness for a serious tornado hitting Nashville would save more than 5,300 jobs. The amount of production and income saved would be more than $683 million and $464 million, respectively.' An S&P Global Sustainable1 report found that companies could face physical climate costs of up to 28% of the asset value annually without mitigation efforts. Supply chain risk mitigation: Building more resilient supply chain operations and avoiding disruptions from physical building damage and labor interruptions can lead to longer-term ROI. These risks pertain to both U.S. and off-shored supply chain facilities. Transition risk management Climate change and its associated risks continue leading to longer term economic changes. These bring transitionary risks that are important to consider to avoid higher resource and material costs. Through transition risk management, real estate owners can position themselves for: Less exposure to energy supply volatility pricing: Through decreased energy consumption or using alternative sources. Resource scarcity: Can lead to increasing costs and lack of availability of land, water, timber, and steel. Improved capital and lending rates: Rates may consider transition climate risks in risk analysis, or provide green financing with lower rates. Stranded assets: Avoid real estate assets that can be devalued by not appropriately mitigating transition risks. These stranded assets may not be aligned with building energy performance standards such as New York's Local Law 97. Noncompliant buildings could see value reductions of 10–20% due to penalties and retrofit costs. Furthermore, a First Street study suggests that a $1.4 trillion devaluation will occur across real estate assets over 30 years if they fail to meet decarbonization pathways. Communication is key In creating strategies for cost efficiencies and resilience, the owner's ultimate desire is to create a portfolio of attractive assets that are optimal operationally to gain short-term and long-term ROI. It is vitally important to communicate how the company is pursuing these cost saving and resilience initiatives to appropriate stakeholders including investors, banks, employees, operators/tenants, and communities, to help each stakeholder understand the assets' value. Key ways to drive this communication include: Green building certifications: These include LEED, BREEAM, and IREM certifications, which provide stakeholders with independent validation of key energy and carbon management initiatives. Investor reporting frameworks: GRESB and UNPRI provide investors a detailed look at initiatives being pursued, along with gaps, allowing them to benchmark and compare them to peers. Corporate social responsibility reports: These tell stakeholders, such as employees and tenants, about the sustainability efforts being addressed, offering better transparency. Last thoughts Many are pursing the ultimate goal of creating an environment that allows us and future generations to prosper and thrive. Looking at initiatives under the return on investment lens offers a sustainable pathway to meet people where they're at, speak a language they can connect to, and invite them to join the journey leading to a more sustainable economy and world. I look forward to continuing the discourse on how sustainability initiatives can best help drive for cost efficiencies and resilience so that these initiatives move from being an overlay to being deeply integrated into operational excellence.
Mail & Guardian
04-07-2025
- Business
- Mail & Guardian
Beyond fast fashion: Journey to net zero for retailers
The effect of the retail industry on the environment has again made headlines in recent weeks, with France's senate approving a Bill that directly addresses the environmental impact of the fast fashion industry. The effect of the retail industry on the environment has again made headlines in recent weeks, with France's senate This latest legislative development builds on the 2024 adoption of proposals by the European Parliament to broaden the scope of recycling obligations for fashion brands and to introduce new food waste reduction targets for European Union member states. While the EU has applied direct pressure to retailers through targeted legislation, a broader set of regulatory and reputational considerations applies in South Africa, spurring a trend among South African retailers towards alignment with global sustainability standards. Prioritising a reduction of greenhouse gas (GHG) emissions across operations and supply chains is foundational to the sustainability strategy of any business and requires net reductions across scope 1, 2 and 3 emissions. This is a particular challenge for retailers, whose scope 3 emissions, derived from indirect emissions in the value chain, often constitute the majority of the retailer's carbon footprint. Given the high impact of scope 3 emissions, retailers will struggle to set and achieve meaningful net zero targets without understanding and prioritising their supply chains. Mapping supply chains, assessing environmental and social impacts throughout, and promoting sustainable practices among suppliers are therefore crucial steps. While supply chain due diligence is not yet a legislative requirement across most jurisdictions, retailers who understand their supply chains will be better positioned to build meaningful net zero targets, report on those targets, and ultimately meet legislative obligations, which are anticipated to come into force in the coming years. The Corporate Sustainability Reporting Directive (CSRD) is an EU initiative aimed at enhancing transparency and standardising sustainability reporting across companies. As of June 2025, the CSRD is undergoing revisions to simplify reporting requirements, with implementation delays and scope adjustments proposed to reduce burdens on businesses while maintaining core sustainability objectives. Implementation of CSRD has commenced, albeit with a phased approach. As more businesses are brought within its scope, sustainability reporting requirements will intensify for EU companies and their supply chains. Retailers in South Africa may take the view that the incentive for ESG (environmental, social and governance) reporting is currently low, given the slow implementation of the CSRD in the European Union and the absence of mandatory reporting requirements locally. But demonstrating progress towards net zero is underpinned by accurate reporting. With consumers increasingly seeking more sustainable retail options, retailers must ensure that their sustainability claims are credible and backed by data, or risk facing greenwashing claims. South Africa's Advertising Regulatory Board recently published a draft Sustainability Code to address greenwashing. The draft code establishes definitions and guidelines for various environmental claims, including composability, recyclability, and carbon neutrality of products. Given the legal and reputational risks associated with unsubstantiated sustainability statements, thorough and transparent reporting is the only viable solution. A proactive and data-based approach to sustainability reporting will enable retailers to prepare for mandatory reporting obligations, while maintaining credibility with consumers and stakeholders and comply with existing legal obligations. South Africa has a robust environmental regulatory framework, and any company's net zero journey should begin with legislative compliance. From an operational perspective, certain provisions of the Climate Change Act, 2024 recently came into force in South Africa. These provisions pave the way for the government to determine sectoral emission targets for greenhouse gas-emitting sectors and sub-sectors, as well as to establish an emission threshold to decide which entities will be allocated a carbon budget once the remaining provisions of the Act come into force. Draft sectoral emission targets were published in April 2024, including those for the trade and industry sector, which covers all manufacturing and production in the country. An important regulatory intervention which retailers should be considering is the principle of Extended Producer Responsibility (EPR), which seeks to extend a defined producer's financial or physical responsibility for its products across the products' life cycle, to the post-consumer stage (ie post-consumption waste recovery, recycling and disposal, and the end-of-life management of the products and their resultant wastes). The regulations, published under the National Environmental Management: Waste Act, 2008, regulate problematic waste streams resulting from public consumption of certain products, as set out in various sector notices. Extended Producer Responsibility sector notices have been published for the electrical and electronic equipment; lighting; paper, packaging and some single use products; portable batteries; pesticides and lubricant oil sectors. Regulators are increasingly Although South African companies are not yet compelled by legislation to report on sustainability, many choose to make public statements and disclosures about their targets and performance. These public statements must be carefully considered and substantiated. In August 2024, South Africa saw its first successful greenwashing case, in which sustainability claims made by TotalEnergies were found to be misleading by the Advertising Regulatory Board. While public scrutiny of the environmental and social impact of large companies is increasing, cases like this serve as a warning to businesses against making overly broad or misleading sustainability-related claims, which may result in reputational harm, litigation or other consequences. Setting net zero targets is a priority for many retailers in South Africa, even though the targeted legislative interventions on sustainability reporting and due diligence seen in the EU are not yet directly affecting South African businesses. Aligning these targets with global reporting standards, conducting comprehensive supply chain due diligence, ensuring compliance with local environmental regulations and managing reputational risk will support businesses on their net zero journey, and ultimately pay off as more companies fall within the scope of ESG legislation. Emily Gammon is a knowledge lawyer and Paula-Ann Novotny a partner at Webber Wentzel.
Al Bawaba
29-06-2025
- Science
- Al Bawaba
American University of Ras Al Khaimah scores high in sustainability, with lowest Greenhouse Gas emissions among UAE universities
The sprawling 1.6 million sq. ft. campus of the American University of Ras Al Khaimah (AURAK) is on track to achieve the sustainability goals set out in its five-year Sustainability Action Plan (SAP), with initial reports showing that it has the lowest greenhouse gas (GHG) emissions among UAE universities. According to the findings of the Greenhouse Gas (GHG) Emission Report conducted by ZeeDimension consultancy for the university, AURAK's total GHG emissions are significantly low when evaluated against those of other universities. Further, according to published data from UAE universities, AURAK exhibits the lowest GHG emissions per capita of 3.67 metric tons of carbon dioxide equivalent (MTCO₂e), in contrast to three other top universities whose emissions ranged between 5.68 to 7.59 MTCO₂e. The university has set an ambitious target to reduce Co2 emissions by 20% by 2030. This reduction will be achieved through the use of vehicles that rely on alternative energy fuel sources, reduced reliance on on-site backup generators, and the expansion of renewable energy sources on campus, such as solar-powered lighting and heating systems. Prof. Stephen Wilhite, Senior Vice President of Academic Affairs and Student Success and Provost at AURAK, says: 'We take sustainability very seriously at AURAK. We committed to aligning our sustainability actions with the Net Zero by 2050 strategic initiative by reducing greenhouse gas emissions through extensive use of solar energy, adoption of clean transportation, adherence to green building regulations, implementation of circular waste systems, and integration of agriculture with nature-based solutions.' Prof. Tahseen Anwer Arshi, Associate Provost for Research and Sustainability, and Director AURAK's Center for Innovation and Entrepreneurship, said: 'Our Sustainability Action Plan is a blueprint for reducing our carbon footprint, contributing to UN Sustainable Development Goal 13: Climate Action. The findings of the Greenhouse Gas Emission Report validates our commitment to be active contributors to international efforts to reduce global warming. In addition, we are engaged in cutting edge research that focuses on finding alternative solutions to environmental conservation.' AURAK has also aligned its strategies to the Green Building Standards set forth by the RAK Municipality's "Barjeel" regulations. Accordingly, we aim to reduce embodied carbon in the primary materials used in new construction and major renovations on our campus. One of the significant initiatives outlined in AURAK's sustainability action plan is to enhance biodiversity on campus and improve the quality of life for the university community. The university has embarked on a public-private partnership to create a biodiversity hub -- a forest-centric sustainability space that will function as a central hub for research in agriculture and biodiversity, focusing on the evaluation of technologies and systems that harness wastewater and solar energy to promote a circular economy. AURAK has also set up the Ras Al Khaimah Center for Outdoor Comfort (RAKCOC), which develops innovative solutions that can enhance outdoor comfort and quality of life while promoting energy efficiency and reducing environmental impact. In addition, AURAK has partnered with the Emirates Environmental Group to collaborate on several recycling initiatives on campus. The university has also raised staff and student awareness of environmental and social sustainability and has organized several training programs and competitions in collaboration with Deloitte and Supluss to promote green skills.
Trade Arabia
05-06-2025
- Business
- Trade Arabia
ScottishPower, MJR and Oasis studies put offshore charging on the horizon
Offshore charging for both battery-powered crew transfer and service operation vessels could be on the horizon for windfarms of the future, according to two studies commissioned by leading green energy company, ScottishPower Renewables. The two reports – by MJR Power & Automation and Oasis Marine – are the last in a series of three commissioned by ScottishPower Renewables (SPR) to explore options for decarbonising and reducing greenhouse gas (GHG) emissions from offshore windfarm operations. The studies consolidated initial findings that the electrification of offshore operations was technically feasible using battery-powered Service Operation Vessels (E-SOVs), which stay out at sea for extended periods. They also looked at the potential to decarbonise offshore operations using electric crew transfer vessels (CTVs) that could be used for windfarms located closer to shore, with findings confirming that it is technically and operationally feasible. In both scenarios, windfarms would also benefit environmentally and economically, with a significant reduction in both GHG emissions as well as fuel costs. Ross Ovens, ScottishPower Renewables' Managing Director for Offshore, said: 'These latest studies have the potential to help the industry take a step closer to a new era for offshore windfarm operations – not just here in the UK, but right across the globe. 'The valuable depth and insight this research offers – regardless of whether you're considering an SOV or CTV operating model – could help inform future windfarm operations as the country continues to build the green generation we need to meet the expected doubling of electricity demand. 'Our thanks to MJR Power & Automation and Oasis Marine, who have helped shine a light on the potential to decarbonise marine operations and how that could help support a cleaner, greener and better future.' The MJR study found that electrical solutions are particularly suitable for offshore windfarm operations, due to the possibility of regular charges directly at offshore energy production sites and at shore-based quay sides. It also identified that operations and maintenance electric vessels will become cheaper than their Marine Gas Oil (MGO) alternatives within the next few years, with operating expenses already competitive with MGO-powered equivalents for SOVs, and fully competitive for CTVs in a couple of years. Paul Cairns, Managing Director, MJR Power & Automation said: 'We were delighted to be commissioned by ScottishPower Renewables to support its Operation Zero project, which represents a major step forward in advancing offshore charging solutions. Working with such a forward-thinking team to help shape the future of sustainable offshore operations has been a fantastic experience. At MJR Power & Automation, we're proud to contribute our expertise toward accelerating the industry's journey to net zero and we hope that our findings are helpful to both ScottishPower Renewables and the wider offshore wind sector in its push to further decarbonise.' The Oasis Marine study identified that using electric CTVs, enabled by installing Oasis Power Buoys in the windfarm, provides protection from volatile fossil fuel price and the high costs of alternative green fuels; enabling costs to be predictable and in line with the operator's business model. Its findings were based on the use of three electric CTVs instead of diesel-fuelled vessels at a case study windfarm. The study identified potential savings of 140,000 tonnes of CO2 emissions and fuel saving costs of around £15 million over the windfarm's anticipated 25-year lifetime. George Smith, Chief Technical Officer of Oasis Marine, said: 'We're pleased to have worked with ScottishPower Renewables to conduct this study into the technical and operational feasibility of installing Oasis Power Buoys as an offshore windfarm charging solution. The study has concluded that the operations and maintenance activities of windfarms can be conducted by electric vessels. This is not only feasible, but can deliver strong environmental and economic benefits. The report summarises and generalises the findings and gives an excellent snapshot of where Oasis Marine's offshore charging technology is today and the potential emission and cost savings it unlocks.' The findings are being shared through the Operation Zero initiative, which was launched at COP26 in Glasgow and brings together developers and supply chain companies committed to making zero-emission operations and maintenance vessels a reality. Leo Hambro from the Operation Zero Steering Committee added: 'It's great to see developers and the supply chain working together to develop the solutions and best practice that will be a game changer for the industry as a whole. Through studies like these, we will be able to learn, innovate and accelerate the adoption of zero-emission vessels and technologies to achieve a sustainable maritime future.' -
