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

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.

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.

“These activities are to eventually meet demand from our customers … so that we raise interest in our products,” said Kim. “There are costs, but we will try to forge a business opportunity.”