LG Electronics plans to earn additional CERs for 5.8 million tons of greenhouse gases over the next ten years in India, in a bid to help solve India’s electricity shortage and pollution issues. (image:LG Electronics)
SEOUL, Mar. 6 (Korea Bizwire) — LG Electronics has earned Certified Emission Reduction credits (CER) from its India operations, which correspond to about 7,000 tons of carbon dioxide (CO2) emissions, approved by the UNFCCC. This is the first recognition for a home appliances company by the UNFCCC under the Clean Development Mechanism (CDM) of the Kyoto Protocol.
LG Electronics plans to earn additional CERs for 5.8 million tons of greenhouse gases over the next ten years in India, in a bid to help solve India’s electricity shortage and pollution issues. Since the UNFCCC enables entities to trade the earned credits, LG Electronics is planning to raise 3.1 million Euros through the sale of its credits, and hopes to support foundations to provide scholarships for financially-disadvantaged women and children.
LG Electronics has been at the forefront of green technology and management in India, with its dedication to developing high power-efficiency refrigerators that has contributed to lowering electricity consumption in India. Due to India’s pollution issues, which result mainly from a dependence on coal power plants, the UNFCCC currently grants companies operating in India with 0.8 kilograms of emissions credits for a reduction of 1kWh in electricity consumption.
By J.W. Choi (summerchoi@koreabizwire.com)
