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Samsung to spend 4.2 bln dlrs on "green" initiative

by Staff Writers
Seoul (AFP) July 20, 2009
South Korea's Samsung Electronics Monday announced a 4.29 billion dollar plan to develop eco-friendly products and cut emissions from its manufacturing plants by 2013.

The "PlanetFirst" project focuses on achieving low-carbon growth, the company said in a statement.

It involves cutting greenhouse gas emissions from plants by 50 percent and reducing total indirect emissions from all products by 84 million tons through 2013, as well as ensuring all products exceed global eco-mark standards.

Some 5.4 trillion won will be invested in eco-management initiatives and environmental cooperation with suppliers and partners will be strengthened.

The emissions cuts will come through improving the energy efficiency of products including TVs, refrigerators and air conditioners to the highest level in the industry, and reducing standby power consumption.

The company is "committing to becoming a truly green enterprise that places eco-management at the very heart of our business decision-making and growth," said vice chairman and CEO Yoon-Woo Lee at a ceremony launching the initiative.

"This eco-management initiative will encompass all of our global operations, supply chain, and the complete lifecycle of Samsung products, and by achieving these goals we aim to lead the way in tackling the environmental problems that are facing our planet."

Samsung Electronics, flagship of South Korea's largest business group, employs 164,600 people in 61 countries.

It is the world's largest maker of computer memory chips and also a leading global producer of digital TVs, mobile phones and TFT LCD (Thin Film Transistor Liquid Crystal Display) screens.

Of the 5.4 trillion won, the company said it would spend 3.1 trillion developing eco-friendly products and 2.3 trillion on energy-saving technologies and greening its manufacturing plants.

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U.K. boosts switch to low-carbon industry
London (UPI) Jul 17, 2009
Britain said its Low Carbon Industrial Strategy would create new jobs, save business costs and lead to a smooth transition to a low-carbon economy. The strategy, launched Thursday by Business Secretary Peter Mandelson, named a range of low-carbon industries where the first of the $675 million investment budgeted for 2009 would go. Nuclear power is joined in the sectoral list by ... read more







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