LG to spend $18b on clean tech, emission cuts

Dylan Bushell-Embling
14 Apr 2010

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 metric tons 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 Indiasaid.

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.

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