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LG to spend $18 bn in next decade to cut greenhouse gases

Press Trust of India  |  Seoul 

South Korea's LG group will spend $17.92 billion over the next 10 years to reduce greenhouse gases and water consumption, including $9 billion in research and development, the company said.

Under the plan, LG's affiliates will cut greenhouse gas emissions to 60 per cent of their 2009 levels by 2020 and reduce water consumption to 70 per cent by making manufacturing processes more environmental-friendly, the company said in a statement yesterday.

LG said it aims to generate 10 per cent of its revenue from new "green" businesses, including solar batteries, lithium-ion batteries and light-emitting diode (LED) lighting, it said.

LG is South Korea's fourth-largest family-run business conglomerate, with the world's third-largest handset maker, LG Electronics Inc., and the world's No 2 flat-screen panel maker, LG Display Co., under its wing.

LG did not disclose how the money will be distributed among affiliates.

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First Published: Mon, April 12 2010. 15:13 IST