Samsung Electronics Invests over USD5bn to Realize Net Zero Emissions by 2050

Samsung Electronics [005930:KS] vowed to invest over KRW7tr (USD5.02bn) in its environmental initiatives by 2030 to pave way for its 2050 enterprise-wide net zero carbon emissions goal, as reported by Reuters on September 15. The initiatives include using more renewable energy, developing ultra-low power semiconductors and energy-efficient electronics products, maximizing resource circularity such as water, lithium, and plastic, as well as researching carbon capture technologies. Through these efforts, Samsung Electronics aims for net zero direct and indirect carbon emissions for its global operations by 2050, with its Device eXperience (DX) Division achieving net-zero scope 1 and scope 2 emissions by 2030.

According to Samsung’s estimation, by reaching net zero direct and indirect carbon emissions by 2050, the company could reduce about 17m tons of carbon emissions from its 2021 levels. Specifically, the company will apply low-power technologies in its seven main categories of consumer electronics products, such as smartphones, TVs, and refrigerators, to reduce their power consumption by around 30% by 2030 compared to 2019 levels. In a move to boost resource circularity, the firm plans to raise the proportion of reused plastic in its devices to 50% of all plastic by 2030 and 100% by 2050. Moreover, the enterprise plans to collect a cumulative 10m tons of electronic waste from 2009 to 2030, before raising the figure to 25m tons in 2050.

Sources:

https://www.reuters.com/business/sustainable-business/samsung-elec-invest-over-5-bln-it-targets-net-zero-emissions-by-2050-2022-09-15/

https://news.samsung.com/global/samsung-electronics-announces-new-environmental-strategy