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. Under the circumstances where international fuel and raw material prices rise, we have made efforts to reduce indirect carbon emissions by actively implementing energy management campaign aimed at achieving a 100% transition to renewable energy by 2030.
RE100
RE100 stands for Renewable Electricity 100%, which refers to the 100% conversion of renewable energy (green premium, purchase of REC certificates, execution of PPA, etc.). L&F has established a roadmap to cover 100% of the electricity used with renewable energy by 2030.
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 establishes a greenhouse gas inventory to determine the amount of greenhouse gas generated by each source and analyzes the proportion of greenhouse gas emissions and change in each workplace. In 2022, the largest amount of greenhouse gases was emitted in the workplace power use phase (Scope 2, indirect emissions), accounting for approximately 96%.
GHG Emissions
| Category | Unit | 2020 | 2021 | 2022 |
|---|---|---|---|---|
| Direct emissions (Scope 1) | Tons of CO2e | 2,181 | 3,263 | 4,584 |
| Indirect emissions (Scope 2) | Tons of CO2e | 30,538 | 87,412 | 116,073 |
| Total emissions(Scope1+Scope2) | Tons of CO2e | 32,719 | 90,674 | 120,657 |
| Intensity emissions | Tons of CO2e / KRW million | 0.092 | 0.094 | 0.031 |
* Some of the reporting scope (headquarters and innovation center,etsc) has been excluded from the reporting scope.
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.
