LG Display Enters Responsible Business Alliance for Better ESG Management2021.04.30
SEOUL, Korea (April 30, 2021) – LG Display, the world’s leading innovator of display technologies, announced today that it has joined the influential Responsible Business Alliance (RBA). As a member of the global industry coalition, the company takes another step forward as a responsible business striving to strengthen its ESG management.
The RBA is a nonprofit organization consisting of companies that make concerted efforts to create sustainable value for labor, environment, and business. To help companies make a positive impact, the RBA Code of Conduct has been put in place for members to follow, which covers 43 key principles across 5 categories – labor, environment, health and safety, business ethics, and management system. More than 170 global companies are currently members.
By joining this forward-thinking alliance, LG Display will closely cooperate with members, supply chains, and stakeholders to enhance working and environmental conditions and to improve business performances based on the RBA’s Code of Conduct. In addition, the company will encourage its operations and its partner companies at home and abroad to follow the RBA’s Code of Conduct by looking strictly into their business activities and supply chains to improve them based on global standards.
Through its membership, LG Display is also a member of the RBA’s Responsible Minerals Initiative (RMI), a global initiative focused on minerals supply chain due diligence. LG Display will actively utilize the information the RMI provides on country of origin and smelters while cooperating with like-minded RMI members to help establish a more responsible and reliable supply chain. As the importance of supply chain management – particularly the ethical purchase of high-risk minerals – has been increasing rapidly on a global scale, collaborating through the RMI provides LG Display with the opportunity to effectively manage its sustainable production.
LG Display is also joining the United Nations Global Compact (UNGC) network, the largest voluntary initiative for economic sustainable development across the world. UNGC is committed to a set of 10 principles in the areas of human rights, labor, environment and anti-corruption, and more than 14,000 companies and organizations from 157 countries have already signed up.
“LG Display is fully committed to improving not only its business performance, but also its ESG activities in terms of safety, the environment and governance to better align with today’s more eco-conscious society,” said James Hoyoung Jeong, CEO of LG Display. “We believe our work to better the world as a member of the Responsible Business Alliance will help the business grow and reward the trust shown to us by our customers, shareholders, and society as a whole.”