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LX International Publishes '2024 Sustainability Report'
- 06/04/2024
- View 1697
- Published for the 11th time this year,
Created as an interactive PDF to enhance reader convenience and usability.
- Expressed commitment to expanding
'sustainable business' through strategic development in the secondary battery
sector.
LX
International announced on the 3rd that it has published the '2024
Sustainability Report
Since 2014,
LX International has annually published its sustainability management
strategies, goals, and achievements in the environmental, social, and
governance sectors through its sustainability reports. This year's report marks
the 11th publication and, like last year, has been created in an interactive
PDF format to enhance reader convenience and usability.
In particular, LX International emphasized
'sustainable business' as a major issue in this report. Based on its existing
business capabilities, the company aims to expand its sustainable business
foundation. Leveraging its accumulated expertise in resource development and
trading, LX International is strategically developing the core minerals and
materials sector for secondary batteries. As part of this effort, the company
acquired management rights to the AKP nickel mine in Indonesia earlier this
year, becoming the first Korean company to do so.
LX International is considering additional
investments in assets such as mines and smelters, using the AKP mine as a
stepping stone. Through this, the company aims to expand the value chain of the
secondary battery and electric vehicle industries. Furthermore, it plans to
promote intermediate goods trading for domestic and international secondary
battery material companies in connection with these asset investments.
Meanwhile, LX International identified an
increased interest in the 'social' domain, including supply chain ESG risk
management and human resource management, compared to last year, through
surveys conducted among various stakeholders. Based on these findings, the
company has identified the top 10 major issues.
Among these, the company has focused on
'Environmental Management Systems' in the Environmental (E) sector, 'Supply
Chain ESG Risk Management' in the Social (S) sector, and 'Compliance' in the
Governance (G) sector. For these issues, LX International has applied the ESG
disclosure framework of the International Financial Reporting Standards (IFRS)
Foundation, detailing activities and outcomes based on four key elements: ▲ Governance,
▲ Strategy, ▲ Risk Management, and ▲ Metrics and Targets.
Additionally, it is noteworthy that the
report includes information on establishing a supply chain ESG management
system, such as conducting ESG assessments and providing training for partners.
In his address, LX International CEO Yoon
Chun Sung stated, "Global supply chain issues and regulations are becoming
increasingly stringent, and stakeholders' demands for ESG are intensifying. We
will not only pursue business expansion and economic performance but also do
our best to fulfill our responsibilities in environmental, social, and
governance aspects and create sustainable value."
LX International plans to continue
publishing the sustainability report annually to integrate the management of
both financial and non-financial performance, and transparently disclose the
implementation process.
This report can be accessed on the LX International website (https://www.lxinternational.com/kr/esg).
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