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CEO : Yoon Chun Sung
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LX International Publishes '2024 Sustainability Report'
- 06/04/2024
- View 5252
- 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 batterysector.
LXInternational announced on the 3rd that it has published the '2024Sustainability Report
Since 2014,LX International has annually published its sustainability managementstrategies, goals, and achievements in the environmental, social, andgovernance sectors through its sustainability reports. This year's report marksthe 11th publication and, like last year, has been created in an interactivePDF format to enhance reader convenience and usability.
In particular, LX International emphasized'sustainable business' as a major issue in this report. Based on its existingbusiness capabilities, the company aims to expand its sustainable businessfoundation. Leveraging its accumulated expertise in resource development andtrading, LX International is strategically developing the core minerals andmaterials sector for secondary batteries. As part of this effort, the companyacquired management rights to the AKP nickel mine in Indonesia earlier thisyear, becoming the first Korean company to do so.
LX International is considering additionalinvestments in assets such as mines and smelters, using the AKP mine as astepping stone. Through this, the company aims to expand the value chain of thesecondary battery and electric vehicle industries. Furthermore, it plans topromote intermediate goods trading for domestic and international secondarybattery material companies in connection with these asset investments.
Meanwhile, LX International identified anincreased interest in the 'social' domain, including supply chain ESG riskmanagement and human resource management, compared to last year, throughsurveys conducted among various stakeholders. Based on these findings, thecompany has identified the top 10 major issues.
Among these, the company has focused on'Environmental Management Systems' in the Environmental (E) sector, 'SupplyChain ESG Risk Management' in the Social (S) sector, and 'Compliance' in theGovernance (G) sector. For these issues, LX International has applied the ESGdisclosure 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 thereport includes information on establishing a supply chain ESG managementsystem, such as conducting ESG assessments and providing training for partners.
In his address, LX International CEO YoonChun Sung stated, 'Global supply chain issues and regulations are becomingincreasingly stringent, and stakeholders' demands for ESG are intensifying. Wewill not only pursue business expansion and economic performance but also doour best to fulfill our responsibilities in environmental, social, andgovernance aspects and create sustainable value.'
LX International plans to continuepublishing the sustainability report annually to integrate the management ofboth financial and non-financial performance, and transparently disclose theimplementation process.
This report canbe accessed on the LX International website (https://www.lxinternational.com/kr/esg).
