LG Enhances Their Commitment to UNGC to Address Global Development.
During a memorandum of understanding (MOU) signing ceremony with the Foundation for Global Compact which was held during this week in Addis Ababa, Ethiopia, LG Corp., the holding company for manufacturers such as LG Electronics, LG Display and LG Chem, strengthened its collaboration with the United Nation Global Compact (UNGC) to support its work on the Post-2015 Development Agenda.
The signing ceremony was held on the sidelines of the forum, Africa: Advancing Partnerships and Responsible Business Leadership. The occasion was attended by senior representatives from both LG and UNGC, including LG Corp. Executive Vice President Kim Young-kee, UNGC Executive Director Georg Kell, Foundation for the Global Compact Chairman Mark Moody-Stuart and Yim, Hong-jae from GC Korea Network. LG, in particular, will focus on sustainable development and private sustainability financing.
The UN Global company is a United Nations initiative established during 2000 to mobilize business to support UN goals and Issue with over 12,000 businesses and other stakeholder from over 145 countries. With this collaboration, LG shall become the first Korea company to work alongside with the UN Global Compact on Special projects “poverty footprint and private sustainability finance” to contribute to the Post-2015 Development Agenda.
The Post-2015 Development Agenda is an International process reviewing and shaping future global development priorities, which will go into effect during after the expiration of the Millennium Development Goals (MDGs) in 2015. The focus of the post-2015 Development Agenda, commonly known as Sustainable Development Goals (SDGs), ranges from poverty eradication, improving education, developing prosperity and promoting equality to climate change, energy conversation and the sustainable use of our oceans and seas.
LG will also become one of the 50 company members of Global Compact LEAD, a platform created by the UNGC to implement the Blueprint for Corporate Sustainability Leadership, which was developed in close consultation with a large number of corporate participants and stakeholders. Participants of Global Compact LEAD are corporations that are committed to resolving today’s social, environmental and economic challenges.
LG’s Hope Community project in Ethiopia will be showcased to global companies as one solution to addressing poverty in rural Africa with programs such as: 1) helping farmers in underdeveloped villages in Ethiopia become more self-sufficient; 2) funding of a model farm that generates income for local residents; 3) construction of a new LG Hope technical and vocational school to teach young people sustainable skills; 4) three year scholarships for descendants of local Korean War veterans.