South Korea’s LG group will spend US $17.92 billion over the next 10 years to reduce greenhouse gases and water consumption, including US $9 billion in research and development, the company said in a statement.

Under the plan, LG’s affiliates will cut greenhouse gas emissions to 60 per cent of their 2009 levels by 2020 and reduce water consumption to 70 per cent by making manufacturing processes more environmental-friendly.

LG said it aims to generate 10 per cent of its revenue from new “green” businesses, including solar batteries, lithium-ion batteries and light-emitting diode (LED) lighting. LG did not disclose how the money will be distributed among affiliates.

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