OLED, an Eco-friendly Display Promising a Better Future
At a time that stresses ESG for people, society, and the environment, LG Display is launching various sustainability actions to align with the growing awareness of its customers as well as to spread a positive impact on society.
With OLED, absolutely!
As the perception and sense of crisis regarding the environment are higher than ever, being eco-friendly is increasingly becoming a big part of customers’ decisions when choosing a product. To cater to such customers’ expectations and needs, LG Display is doing its part to discover and develop more eco-friendly productsㅡbringing about more environmentally sound products than ever before.
As part of this effort, LG Display has rapidly transitioned its main products from LCD to OLED. Compared to LCDs, where a combination of various materials and components are required for the external light source, OLEDs are simplistically composed of a self-lit panel and back cover. The small number of components drastically reduces the amount of discarded unrecycled plastics that are ultimately sent to landfills or incinerators, alleviating negative impacts on the environment. Based on the 65-inch OLED TV module, up to 92.7% of the components are recyclable compared to the 70% range of LCDs.
LG Display is under the process of applying the Life Cycle Assessment(LCA) method, which comprehensively evaluates environmental impacts across the entire lifecycle of a product, with a connection to green technology development. These activities include reducing materials and components during the raw material procurement stage, reducing greenhouse gases and power consumption incurred during the manufacturing stage, reducing energy consumption during the customer-usage stage and reducing wastes in the disposal stage. A recovery process was also established and is under operation to develop and reuse eco-friendly trays made of biomass for the module trays in the manufacturing process and for packaging material used when shipping to customers.
(1) Expansion of Eco-friendly Certifications
LG Display is also putting much effort into expanding international certifications to elevate OLED’s eco-friendliness. Not only was the Eco Label* given to OLED TV modules for the first time in the industry in 2017 by SGS, a global inspection, verification and testing authority, but LG Display also has been expanding models eligible for certification that applies to the entire OLED TV set. SGS evaluated the overall environmental aspects of OLED TV panels and found their environmental friendliness to be especially notable in three categories covering the lowering of indoor air pollutants, the reduction of hazardous substances, and high recyclability.
Also, LG Display has additionally acquired the certificate of environmental excellence for large and small OLED models, given by the TUV** SUD certification agency, by meeting the WEEE*** directive, resource recycling, non-use of certain hazardous substances, etc.
*** WEEE(Waste from Electrical and Electronic Equipment): A directive to promote the recycling of electrical and electronic equipment waste
(2) Recipient of an AA grade from MSCI’s ESG Ratings
Through such efforts, LG Display has for two consecutive years received an industry top-tier rating of AA given by Morgan Stanley Capital International(MSCI), a global investment information provider. Since only the top 13% receive AAA to AA ratings and are recognized as ‘ESG Leaders’ in the industry, it is evident that LG Display is at the forefront of responsible management for a sustainable environment and society. This year, LG Display received high scores for OLED’s eco-friendly technology, which is at the core of the company’s portfolio. MSCI’s ESG ratings commenced in 1999 and are measured across 7 levels spanning from AAA to CCC for globally listed companies’ ESG activities.
From the first ESG ratings conducted by EcoVadis, LG Display received a Gold-level rating which is given to the top 5% of global corporations for ESG management. EcoVadis is a platform established in 2007 that provides annual ratings for 75,000 companies in 160 countries, highly regarded among 600 global rating agencies around the world.
The results achieved through LG Display’s efforts reaffirm OLED’s value as a globally eco-friendly display. LG Display will continue to strive for sustainable growth by creating social values and technological innovations based on green management. We invite you to stay tuned for the progress of OLED in its efforts for a better future.