Samsung to invest over $5b in 8 years to meet net zero emissions by 2050

Samsung to invest over $5b in 8 years to meet net zero emissions by 2050

The logo of Samsung Electronics is seen at its office building in Seoul, South Korea, August 25, 2017. REUTERS/Kim Hong-Ji

Samsung Electronics will invest over 7 trillion won ($5.02 billionby 2030 as part of sweeping environmental initiatives aimed at making the company carbon neutral by 2050, the world’s largest chip and mobile maker said on Thursday.

The tech giant will spend the money on research and development for technology aimed at filtering out greenhouse gases and capturing carbon dioxide generated during chip production, and is seeking to make its devices business carbon neutral earlier, by 2030, said Kim Soo-jin, Samsung‘s head of ESG strategy group. It also plans to boost the recycling of resources such as lithium and plastic.

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