SEOUL: Samsung Electronics Co will invest seven trillion won in green initiatives and lobby South Korea to add more clean energy as the electronics giant looks to reverse a rise in emissions and zero out direct pollution by mid-century.
The world’s largest memory-chip maker, which has seen its climate footprint swell in recent years as it has expanded energy-intensive manufacturing lines, plans to eliminate Scope one and two carbon emissions.
Samsung has not developed goals to reduce Scope three pollution like some peers, though intends to set targets in the future.
South Korea’s biggest company also aims to switch overseas factories entirely to renewable electricity within five years, though argues it can’t yet pursue a similar target for its most energy-hungry domestic plants - which account for the majority of production -because of constraints on the availability of clean power in the fossil fuel-reliant nation.
Samsung has long been criticised by investors and activists over a slower approach to climate action than industry peers such as Apple Inc, which says its own operations are already carbon neutral and has been pressing suppliers to follow suit.
“Addressing climate risks has been particularly challenging with our complex business portfolio,” Kim Soojin, head of ESG strategy group at Samsung Electronics, said in an interview.
The firm’s status as a manufacturer of a wide range of electronics and its extensive supply chains, mean “the environmental pressure on our shoulders has been extremely heavy,” she said.
A new strategy announced yesterday includes spending on carbon capture and storage, measures to reduce water consumption and the release of gases during semiconductor manufacturing, work to boost the energy efficiency of its products and improvements to the collection of electronic waste for recycling.
- Bloomberg
Created by Tan KW | Mar 28, 2024
Created by Tan KW | Mar 28, 2024
Created by Tan KW | Mar 28, 2024