Samsung increases investment in green initiatives

‘Samsung is responding to the threats of climate change with a comprehensive plan,’ said company CEO

Samsung Electronics has updated its environmental strategy, pushing its investment in green initiatives to more than KRW7 trillion ($5 billion) by 2030. The company has joined RE100, a global renewable energy initiative and is now targeting net-zero carbon emissions by 2050.

This investment, said the company, will go towards researching new technologies that will help reduce carbon emissions at treatment facilities and process gases, which are a byproduct of semiconductor manufacturing. The funding will also enable Samsung to install treatment facilities on its semiconductor manufacturing lines.

Additional efforts include development of ultra-low power memory chips for mobile devices and data centers by 2025 and implementing a circular economy to reduce waste across entire product lifecycles. Other targets to be aware of: Samsung said it will have local plants for consumer electronics on 100% renewables by 2027 and its semiconductor operations entirely on clean sources by 2050.

“The company’s renewable energy sourcing methods will include, but not limited to, signing power purchase agreements (PPA), purchasing renewable energy certificates and participating in green pricing programs,” Samsung stated.

By implementing these and other changes, the company expects to reduce the equivalent of about 17 million tons of carbon dioxide-equivalent emissions, based on 2021 figures.

“Samsung is responding to the threats of climate change with a comprehensive plan that includes reducing emissions, new sustainability practices, and the development of innovative technologies and products that are better for our planet,” Han Jong-Hee, vice chair and CEO provided as way of explanation for the updated numbers.

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