Samsung Elec to invest over $5 billion as it targets net zero emissions by 2050

SEOUL: Samsung Electronics will invest over 7 trillion won ($5.02 billion) by 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.