LG to cut gas emissions by 40 percent by 2020
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Bangalore: Aiming to cut its greenhouse gas emissions 40 percent against 2009 levels, South Korea's LG Group has announced to invest 20 trillion won (11.5 billion pounds) by 2020 in the development of environmentally-friendly products, reports Tom Young from the BusinessGreen. As per the plan, the company aims to cut 50 million metric tones of greenhouse gas emissions every year up to 2020, besides expanding its production of renewable energy products to 10 percent of the group. The firm said it will also increase the energy efficiency of its traditional products such as fridges, televisions and air conditioning units, and further expand its current investments in fuel cells, electric car batteries and solar cells."By making excellent products whose energy efficiency can be independently verified, LG is at the forefront of international efforts by manufacturers to conserve energy," said Yong Nam, Chief Executive of LG Electronics, at the time. The move will also further underline South Korea's position as one of the world's fastest emerging clean tech hubs.