The pandemic has changed the business dynamic a lot, sustainable business is the need of the hour. Companies are emphasizing more on making products that are safer for people as well as the planet. More companies are focusing on the global goal of zero emissions by 2050. The world is on the verge of a tectonic shift of fundamental reallocation of capital towards sustainable assets. Companies are also seen focusing on CSR which aims to make business accountable and is a way for organizations to promote their positive activities. These companies also emphasis on ESG (Environmental, Social and Governance), a way for businesses to measure the real sustainable and societal impact of their actions. Over the years, ESG has become a widely used framework for businesses to keep a check on the environmental responsibility and diversity and inclusion.
In an ever-growing market of smartphones and electronics, e-waste is becoming a significant problem. Mostly of the developed countries face e-waste issues but in developing nations like India, the problem is enduring. LG, one of the leaders in consumer electronics, has announced a new campaign themed around #UpgradeResponsibly. The campaign focuses on how discarding old electronics irresponsibly causes harm to the environment, affecting our health. To help save the planet and support the campaign, a short video to create awareness around the simple solution of discarding e-waste was also launched.
LG already has a recycling service that is accessible to the doorsteps of consumers in India. It is called LG Care & Delight Service, and customers can call 1800-315-9999 to schedule a pickup of their old electronic appliances. LG then arranges pickup, and once the old appliances have been picked up, they are sent to LG’s E-waste Processing Plant, where the appliances are recycled in an environment-friendly way.
LG’s commitment to the planet is evident in each of its core technologies. The LG Styler employs Inverter heat pump to recycle heat from damp air inside the cabinet. The product represents a new way to care for clothes and other accessories. LG Styler has received CES INNOVATION award globally and was well received by consumers. The product will help to promote green laundry which is catching up globally and is eco-friendly.
The revolutionary DUAL Inverter Compressor technology inside LG’s air conditioners never stops adjusting speed for the perfect temperatures without wasting electricity. The compressor reduces electricity usage by 70 percent despite cooling rooms 40 percent faster than conventional models. The LG washing machines with AI Direct Drive motor reduce clothing damage by 18 percent which implies fewer clothes filling landfills. LG’s AI DD technology leverages big data from twenty thousand pieces of information related to washer usage and applies settings based on the volume and delicateness of the garments in each load of laundry to deliver the most optimized washing cycle.
With the LG ThinQ app, consumers can track their monthly usage using the energy monitoring dashboards for compatible appliances so users can see where they might be able to save energy by modifying their behavior. They can also use the vacation mode to minimize energy usage.
With an aim to provide energy savings and durability, LG’s InstaVIew Refrigerator has Inverter Linear Compressor, which has revolutionized the core of the refrigerator, providing up to 51% in energy savings and optimal temperature control to keep foods fresher and longer. LG’s own Inverter Linear Compressor saves more energy by adapting efficiency-engineering mechanism.
When it comes to entertainment, LG’s OLED is a self-lit technology and one of the most environment friendly TV. OLED models have been recognized as an eco-product with no backlight which means fewer plastic parts, less indoor air pollution and 50 percent less VOC emissions. LG OLED TVs are easy on the eyes and have been engineered to cause minimal eye strain via low blue light modes and zero flickering. The product does not contain any hazardous substances like cadmium and indium phosphide and has a high recycle rate.
To reiterate, renewable energy, eco-products, sustainable investing, and, net-zero emissions are key sustainable business trends for 2021. They will create sufficient opportunities as to shake the way companies operate not in 2050 but 2021.