LG Chem Becomes First Korean Firm to Join Global Impact Coalition

Decarbonization LG Chem Becomes First Korean Firm to Join Global Impact Coalition

2025-01-27 Source: Press release LG Chem 2 min Reading Time

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LG Chem has become the first Korean company to join the CEO-led collaborative platform for a net-zero chemicals future, Global Impact Coalition. The move strengthens GIC’s global reach, particularly in East Asia.

The Global Impact Coalition has announced LG Chem as its newest member. (Source: LG Chem) — The Global Impact Coalition has announced LG Chem as its newest member.
(Source: LG Chem)

Geneva/Switzerland – The Global Impact Coalition (GIC), a CEO-led collaborative platform for a net-zero chemicals future, has recently announced LG Chem as its newest member. As one of the world’s largest chemical companies and a leader in sustainable materials, LG Chem’s membership sends a strong signal to Asia and the broader industry that global collaboration is essential to developing sustainable and commercially viable solutions.

This milestone reinforces GIC’s growing global impact and highlights the importance of international partnerships in scaling up solutions to reduce emissions. Notably, LG Chem is the first Korean company to join GIC, further cementing its commitment to fostering global collaboration for climate action.

Advancing sustainable materials and reducing carbon footprints across the value chain are critical to achieving net-zero success. LG Chem has long been a pioneer in sustainable innovation, from producing bio-based and recycled plastics to developing solutions that contribute to global energy transition goals. Through its membership in the GIC, LG Chem will collaborate with global industry leaders to scale sustainable technologies and explore new circular business models. LG Chem will work with other industry leaders on topics including sustainable methanol, improving end-of-life plastics recycling and utilizing AI to guide value creation along the chemicals value chain.

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Hak Cheol Shin, Vice Chairman and CEO of LG Chem, stated: "Joining the Global Impact Coalition reflects LG Chem’s dedication to leading the way in sustainability. The GIC provides a unique opportunity to collaborate with peers and co-create solutions to accelerate the transition to a circular, net-zero future. We’re eager to bring our expertise in sustainable materials to the GIC and contribute meaningfully to the GIC’s mission."

Incubated at the World Economic Forum, GIC was founded by some of the world’s leading chemical companies to tackle critical challenges to advance towards a circular and net-zero future. By fostering collaborative projects and developing new business models, GIC provides a platform for co-creation and commercialization of transformative technologies. GIC members include BASF, Sabic, Clariant, Covestro, Lyondell Basell, Mitsubishi Chemical Group, Sabanci Holding, Syensqo, Suez and Siemens Energy.

Charlie Tan, CEO of the Global Impact Coalition, welcomed LG Chem to the platform: “We are honored to have LG Chem join the Global Impact Coalition. Their presence strengthens GIC’s global reach, particularly in East Asia, a region central to the chemical sector’s future. Together, we can fast-track the chemical sector’s transition to a circular and low-carbon economy.”

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