LX International : Publishes '2024 Sustainability Report'

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LX International Publishes '2024 Sustainability Report'

• 06/04/2024
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- Published for the 11th time this year, Created as an interactive PDF to enhance reader convenience and usability.<_o3a_p>

- Expressed commitment to expanding 'sustainable business' through strategic development in the secondary battery sector.<_o3a_p>

LX International announced on the 3rd that it has published the '2024 Sustainability Report<_o3a_p>

Since 2014, LX International has annually published its sustainability management strategies, goals, and achievements in the environmental, social, and governance sectors through its sustainability reports. This year's report marks the 11th publication and, like last year, has been created in an interactive PDF format to enhance reader convenience and usability.<_o3a_p>

In particular, LX International emphasized 'sustainable business' as a major issue in this report. Based on its existing business capabilities, the company aims to expand its sustainable business foundation. Leveraging its accumulated expertise in resource development and trading, LX International is strategically developing the core minerals and materials sector for secondary batteries. As part of this effort, the company acquired management rights to the AKP nickel mine in Indonesia earlier this year, becoming the first Korean company to do so.<_o3a_p>

LX International is considering additional investments in assets such as mines and smelters, using the AKP mine as a stepping stone. Through this, the company aims to expand the value chain of the secondary battery and electric vehicle industries. Furthermore, it plans to promote intermediate goods trading for domestic and international secondary battery material companies in connection with these asset investments.<_o3a_p>

Meanwhile, LX International identified an increased interest in the 'social' domain, including supply chain ESG risk management and human resource management, compared to last year, through surveys conducted among various stakeholders. Based on these findings, the company has identified the top 10 major issues.<_o3a_p>

Among these, the company has focused on 'Environmental Management Systems' in the Environmental (E) sector, 'Supply Chain ESG Risk Management' in the Social (S) sector, and 'Compliance' in the Governance (G) sector. For these issues, LX International has applied the ESG disclosure framework of the International Financial Reporting Standards (IFRS) Foundation, detailing activities and outcomes based on four key elements: ▲ Governance, ▲ Strategy, ▲ Risk Management, and ▲ Metrics and Targets.<_o3a_p>

Additionally, it is noteworthy that the report includes information on establishing a supply chain ESG management system, such as conducting ESG assessments and providing training for partners.<_o3a_p>

In his address, LX International CEO Yoon Chun Sung stated, "Global supply chain issues and regulations are becoming increasingly stringent, and stakeholders' demands for ESG are intensifying. We will not only pursue business expansion and economic performance but also do our best to fulfill our responsibilities in environmental, social, and governance aspects and create sustainable value."<_o3a_p>

LX International plans to continue publishing the sustainability report annually to integrate the management of both financial and non-financial performance, and transparently disclose the implementation process.<_o3a_p>

This report can be accessed on the LX International website (https://www.lxinternational.com/kr/esg).

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