LG Uplus announced on the 1st that it has published its '2024 Sustainability Management Report,' which contains the results of its environmental, social, and governance (ESG) management.
Since 2013, LG Uplus has been publishing a sustainability management report to actively communicate with stakeholders and share the company's sustainability management status. This year's report was prepared in accordance with the Global Reporting Initiative (GRI) Standards 2021, an international sustainability reporting standard. It also incorporates indicators from the United Nations Sustainable Development Goals (UN SDGs).
This report introduces activities related to the company's brand purpose of 'opening up a bright future for customers through artificial intelligence transformation (AX) technology and the value of consolidation.' An official from LG Uplus noted, 'The goal is to focus more on stakeholders who utilize the technology rather than the AI technology itself, aiming to create a bright world powered by people-centered AI.'
The report also includes the results of an evaluation of biodiversity risks, making it the first among domestic telecommunications companies to do so. The biodiversity risk evaluation was conducted in line with the Taskforce on Nature-related Financial Disclosure guidelines to assess risks related to biodiversity. Based on this, the company established policies for biodiversity protection and preventing deforestation.
While promoting its management activities, LG Uplus identified five key issues by considering the impact on the environment and society (Inside-out) and the financial risks and opportunities from external environmental and social issues (Outside-in). These include ▲ customer satisfaction through AI technological innovation and enhancement of social value ▲ strengthening the stability of communication services and network quality ▲ enhancing service safety and information security ▲ reducing greenhouse gas emissions and energy usage while expanding the transition to renewable energy ▲ providing eco-friendly communication services utilizing ICT technology.
The report highlights efforts to strengthen the fundamentals of telecommunications, such as network quality, service safety, and information security, including the establishment of an enterprise security council, activities to enhance service stability capabilities, and risk assessments of telecommunications facilities and workplaces.
LG Uplus also published the '2024 KSSB (Korea Sustainability Standards Board) No. 2 Climate-related Disclosure Report' along with the sustainability management report. This report, which is the second after the first release last year, is a proactive disclosure activity aimed at building trust and active communication with stakeholders ahead of mandatory climate-related disclosures in Korea. The report contains in-depth reviews of climate-related risk and opportunity analyses and their financial impacts.
Park Kyung-joong, senior vice president in charge of external cooperation at LG Uplus, said, 'We will strive to fulfill our corporate social responsibility based on the power of people-centered AI technology and the essence of consolidation in communication.'