CASE STUDY: LGE Strategically Leverages Materiality Assessments for Ongoing, Sustainable Growth
A robust approach to the Principle of Materiality guides LG Electronics’ actions toward emerging sustainability topics, and strongly contributes to the company’s long-term sustainable growth trajectory
LG Electronics Incorporated (LGE) has been using the AA1000 Series of Standards since 2008, and continues to use the AA1000 Assurance Standard for assurance on the AccountAbility Principles.
By leveraging the AccountAbility Principles, LGE has learned:
- Inclusive stakeholder engagement presents more opportunities for learning - and scrutiny
- Strategically leveraged materiality assessments will contribute to ongoing, sustainable growth
Regarding the organization's use of the AA1000 Series of Standards, Professor Jungmin Song, Deputy General Manager of LG Electronics' Corporate Social Responsibility Team, expressed:
"Sustainability assurance based on the AccountAbility Principles gives us confidence that the material topics we focus on are the most significant to our stakeholders.”
LGE continues to make a place for diverse stakeholder views on sustainability, and has a robust process for using the AA1000 Principles to identify its most material stakeholder concerns and turn them into actionable, management-supported goals and initiatives.
With the transition to the latest AccountAbility Principles (AA1000AP, 2018), LGE is building upon its historic focus on the Principles of Inclusivity and Materiality to incorporate the Principle of Impact in its integrated approach to sustainability management.
