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Samsung commits to achieve net zero carbon emissions by 2050

Samsung has vowed to invest billions of dollars into green initiatives

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Samsung has vowed to invest billions of dollars into green initiatives

The company will invest over $5 billion by the end of the decade to reach its target

South Korea's Samsung Electronics has announced an environmental strategy to achieve net zero carbon emissions by 2050.

The world's largest chip and mobile maker said it intends to spend more than 7 trillion won ($5 billion) over the next seven-and-a-half years to achieve that goal.

The company has also committed to reach net zero emissions by 2030 across its consumer, television, and smartphone divisions.

The projects that will get funding include those that reduce process gas emissions, collect and recycle electronic trash, save water, and reduce pollutants.

To decrease process gases considerably by 2030, Samsung will establish treatment facilities on its semiconductor production lines (fab).

The chip division will use new technologies to eliminate all environmental impacts, starting in 2040 by applying technologies that remove air and water pollutants during manufacturing and treating them before they are discharged.

Samsung also intends to create new technologies to reduce the energy its data centres and consumer electronics use.

"These activities are to eventually meet demand from our customers ... so that we raise interest in our products," said Kim Soo-jin, Samsung's head of ESG strategy group.

"There are costs, but we will try to forge a business opportunity."

Following in the footsteps of global competitors like Apple, TSMC and Intel, Samsung announced that it has joined a consortium of multinational firms named RE100 that are committed to using only renewable energy.

Samsung's customers and investors have long demanded more specific environmental objectives from the company.

While the company's goals are probably not as aggressive as Microsoft's, which had previously committed to becoming carbon negative by the end of the decade, the company wants to introduce changes soon so that its Device eXperience (DX) Division is at net zero by 2030.

Samsung's DX division includes its mobile and display manufacturing operations, and was responsible for 10% of Samsung's 17.4 million tonnes of greenhouse gas emissions last year.

Meanwhile, the firm's chip and component division, which often generates the most revenue, was responsible for 15.6 million tonnes - or 90% of the greenhouse gases the company released in 2021. This division also used 144 million tonnes (88%) of the total 164 million tonnes of water Samsung used last year.

Samsung also outlined other environmental objectives. The company aims to maintain the amount of water extracted from sources at the same level as in 2021, even as chip production increases.

Additionally, Samsung will ramp up recycling efforts for materials like lithium and cobalt.

By 2030 the company hopes to collect e-waste in around 180 countries, up from roughly 50 where it is currently doing so.

The company has created implementation roadmaps for each environmental objective, including the net zero and circular economy targets.

Through the Sustainability Council, which will be presided over by Samsung's CEO, and the Sustainability Committee, made up of outside directors, the company will monitor progress and guarantee effective implementation of each environmental objective.

Samsung commits to achieve net zero carbon emissions by 2050

The company will invest over $5 billion by the end of the decade to reach its target

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