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LG to spend $18b on clean tech, emission cuts
LG to spend $18b on clean tech, emission cuts
By Dylan Bushell-Embling | Apr 15, 2010
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The LG Group plans to invest 20 trillion won ($17.8b) towards expanding its green product portfolio and reducing its carbon footprint over the next ten years.
The Korean conglomerate aims to reduce base emissions by 50 million tonnes a year by 2020, Business Week reported.
LG also plans to grow its green businesses to the point where 10% of its revenue is earned from the products, the Press Trust of India said.
The company's green businesses will sell green handsets, solar and lithium-ion batteries, LED technology and other products.
South Korea last year pledged to reduce its greenhouse gas emissions by 30% by 2020, and invest 2% of its annual GDP into green industries.
LG unit LG Electronics is the world's third-largest handset maker by revenue. Rival Samsung has committed to investing 5.4 trillion won in green R&D facilities.
