Samsung Electronics will make significant environmental investments totaling more than 7 trillion won ($5.02 billion) by 2030. The IT giant will utilize the funds for research and development of carbon dioxide capture and greenhouse gas filtration technologies. Samsung claimed to have joined the RE100 coalition of international businesses dedicated to using only renewable energy.
The corporation also wants to enhance the recycling of materials used in Samsung gadgets, such as lithium, and cobalt. By 2030, it hopes to have collected electronic garbage in 180 nations, up from the current 50.
With over 60% of its electricity coming from coal and gas and only 6% from renewable sources, South Korea also wants to be emissions-free by 2050. However, according to NewsOTG industry-standard analysis, this will be difficult for a nation with a sizable heavy industry that includes shipbuilding and steel.
According to Kim Soo-jin, Samsung’s head of the ESG strategy group, Samsung also wants to increase the amount of recycled plastic in its products to 50% of all plastic by 2030 and 100% by 2050, as well as increase the manufacturing of semiconductors and gadgets that are energy-efficient. We are a technology firm, after all, therefore we will help combat climate change through advancing technology. Due to the size of our business and the popularity of our products, we will make an impact through scale.