Net Zero
L&F is making significant efforts to preserve our home, a clear earth.
By actively strengthening the sense of mission to solve environmental issues, all executives and employees will take the lead in reducing greenhouse gas emissions and
converting the use of energy to renewable energy in the entire company. L&F, which paints a bright and cheerful tomorrow for Net Zero, promises to show a clear-minded attitude.
Net Zero
L&F has set targets for each area of direct (Scope 1) and indirect emissions (Scope 2).
Through these targets, we have planned to achieve Net Zero by 2050 and RE100 by 2030.
L&F has established three key Net Zero plan to reduce direct carbon emissions by 2050.
We are also reviewing various renewable energy transition methods in multiple perspectives to achieve RE100 by 2030.
Net-Zero Plan
Net Zero
L&F has established a 2050 Net zero Roadmap. With the objective of transitioning to 100% renewable energy by 2030, we are committed to reducing indirect carbon emissions through an energy management campaign focused on lowering energy costs. Our aim is to achieve practical carbon neutrality by rigorously monitoring greenhouse gas emissions, diversifying reduction methods, and making significant investments in related facilities.
RE100
RE100 stands for Renewable Electricity 100% representing a commitment to complete transition to renewable energy. This includes the implementation of the green premium system, the purchase of REC certificates, and the conclusion of Power Purchase Agreements (PPA). By utilizing green premiums and RECs in the short term, and PPA in the long term, we aim to achieve RE100. This approach ensures the stable procurement of renewable energy while maintaining economic feasibility and authenticity.
Climate Change Adaptation
Acknowledging climate change-related risks, we identify the management of GHGs as a pivotal measure to address climate change. Our climate actions are categorized into two main strategies: direct emissions management and Indirect emissions management. We are committed to decreasing direct emissions through three primary pillars : securing CCUS technology, enhancing process efficiency, and gradually phasing out lithium carbonate models. Concerning indirect emissions, Which largely stem from electricity consumption, we have established a transition plan towards renewable energy sources while concurrently Curbing energy consumption.
Greenhouse Gas Emissions Management
L&F acknowledges the significant risks posed by climate change and has identified the management of greenhouse gas emissions as a core component of its response to climate change. Our response plan is structured into two primary categories: direct emissions management and indirect emissions management. Among these, direct emissions management is being handled in three directions: securing CCUS technology, improving process efficiency, and reducing lithium carbonate models. Since indirect emissions are related to electricity use, we are responding by implementing a plan to transition to new and renewable energy and reducing energy usage.
GHG Emissions
| Category | Unit | 2021 | 2022 | 2023 |
|---|---|---|---|---|
| Direct emissions (Scope 1) | Tons of CO2e | 3,291 | 4,621 | 5,162 |
| Indirect emissions (Scope 2) | Tons of CO2e | 88,759 | 117,595 | 146,036 |
| Total emissions(Scope1+Scope2) | Tons of CO2e | 92,047 | 122,213 | 151,192 |
| Intensity emissions | Tons of CO2e / KRW million | 0.095 | 0.031 | 0.033 |
* Greenhouse gas emissions and total emissions and the sum of business site emissions are different. (Business-site truncated emissions are combined by company)
Response to Global Environmental Initiatives
RE100(Renewable Energy 100)
A global campaign aiming for 100% transition of the electricity required for corporate activities to renewable sources.
L&F joined RE100 and executed specific plans → Implementing strategies to achieve RE100 by 2030.
CDP(Carbon Disclosure Project)
A total 91 countries worldwide joined in the initiative.
A global climate change project that discloses GHGs, climate-related risks and opportunities, and carbon management strategies.
L&F has been engaging in CDP evaluations since 2023.
