Stakeholder Consultation is establishing itself as one of the most valuable communication channel for our stakeholder engagement.
In order to build consensus between LG Electronics and its stakeholders and incorporate their diverse opinions into its sustainability management, we started a semiannual Stakeholder Consultation comprised of experts in a variety of fields from 2010.
In 2010, we launched Stakeholder Consultation to create an opportunity to take stock of our initiatives and performance in CSR and to incorporate the valuable opinions of stakeholders into our sustainability management. Stakeholder Consultation has been held twice a year, facilitating discussions on all aspects of CSR that are relevant to our business such as the environment, product safety, and accessibility for persons with disabilities. Various CSR topics from government agencies, academia, NGOs, and international organizations have been invited to the consultations to provide their opinions and insights.
Stakeholder Consultation consists of an internal panel of LGE management and an external panel of professionals from various fields. To secure fairness and neutrality of the proceedings, Stakeholder Consultation is presided over by an independent expert in CSR management. Members of the external panel can freely present their opinions from a global perspective as individuals, not as representatives of their organizations. Results of the consultation are recorded and distributed in the form of minutes after review by participants, and then made public through the sustainability report.
LG Electronics incorporates key stakeholder suggestions into our business operations, follows up on the progress, and communicates the information through the corporate website and sustainability reports. In an effort to broaden the scope of stakeholder engagement, we have expanded Stakeholder Consultation to overseas locations, hosting the event in the U.S. and China. As part of our commitment towards stakeholder engagement, we will continue to develop Stakeholder Consultation as the central component of our stakeholder communication. Our ongoing effort that went into making the program more relevant and effective has been received favorably by stakeholders, creating a consensus that Stakeholder Consultation has become a reliable and transparent communication program unique to LG Electronics.
LG Electronics will continue to expand the scope of stakeholder engagement to overseas, particularly through Stakeholder Consultation. We will explore ways in which we can contribute towards achieving the United Nations Sustainable Development Goals (SDGs) as well as the sustainable development of the global community with the program. As part of our effort to expand the scope of stakeholder engagement, we will reach out to diverse stakeholder groups, including consumers, for their participation in new engagement formats, such as discussions and open talks on sustainability issues.