Samsung Electronics has committed $5 billion to invest in green initiatives by 2030 to help the tech giant achieve net-zero carbon emissions by 2050.
The total investment is set to be spent over the course of the next 8 years, until 2030.
The South-Korean multinational has joined the global renewable energy initiative known as RE100, which aims to rely on 100% renewable electricity to power its operations.
Part of the large-scale investment will be aimed at developing novel carbon reduction technologies that will help cut emissions at treatment facilities and process gasses that result from semiconductor manufacturing.
And part of the $5 billion will also go towards the installment of treatment facilities on the company’s semiconductor manufacturing lines.
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Another notable direction is ultra-low power memory chips for data centers and smartphones that are expected to be developed by 2025, as well as the introduction of a circular economy that will minimize the amount of waste across product lifecycles.
Samsung also announced a highly ambitious target on its path to net-zero that includes having all of its local plants for consumer electronics run exclusively on renewable energy by 2027.
To make this happen, the tech giant will rely on renewable energy certificates, power purchase agreements (PPA) and on its participation in green pricing programs.
The expected carbon reduction equivalent from all these steps is expected to amount to 17 million tons of CO2e.
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