Samsung Elec vows to achieve carbon neutrality by 2050

[Photo provided by Samsung Electronics Co.]

Samsung Electronics Co. which uses the largest amount of electricity in the global IT industry has joined the global efforts to tackle climate change, with a renewed pledge to spend more than 7 trillion won ($5 billion) for environmental management projects by 2030 for carbon neutrality by 2050.

The South Korean tech giant whose business spans from semiconductor to smartphone, TV and home appliances on Thursday announced the new environmental strategy and declared a paradigm shift to eco-friendly management for enhanced global business competitiveness.

With the new commitment, the company pledged 7 trillion won investment in its environmental initiatives by 2030 such as for reducing process gases, saving water, recycling electronics and minimizing pollutants.

Samsung Electronics aims to achieve net-zero direct and indirect carbon emissions by 2050. The company’s TV and home appliance division targets to achieve the goal by 2030, and the semiconductor division and others by 2050. Its carbon emissions totaled 17 million tons last year.

[Photo provided by Samsung Electronics Co.]

To reduce direct carbon emissions (Scope 1), Samsung Electronics will focus on investment in facilities using innovative technologies to reduce emissions. For indirect carbon emissions (Scope 2), it has joined the global initiative RE100, participated by businesses around the world for commitment to run on 100 percent renewable electricity by 2050.

As part of the initiative, all overseas plants will be entirely run on renewable energy within five years from now. The TV and home appliance division will pursue a complete shift to renewable energy both at home and abroad by 2027.

Korea, home for Samsung’s manufacturing and production, is “one of the most challenging countries to source renewable energy,” but the company decided to achieve renewable energy use “more proactively,” acknowledging the urgency of today’s climate challenges, the company said in its press release.

Samsung Electronics reported its power consumption last year reached 25.8 terawatt-hours, the largest among all IT companies in the world.

“The climate crisis is one of the greatest challenges of our time,” said Han Jong-hee, Vice Chairman and CEO of Samsung Electronics. “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.”

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