Samsung dedicates £2.4bn To Energy Efficiency

South Korean technology company Samsung Electronics has announced that it plans to set aside around £2.4bn to overhaul its manufacturing processes and products produced to make them more energy efficient and sustainable.

The announcement, made this week, includes a commitment to try and cut the greenhouse gas emissions at the company’s manufacturing sites by around 50 percent by 2013. The focus on improving the sustainability of its manufacturing facilities will account for around £1bn of the total financial commitment to efficiency.

The news from Samsung could be simply be an altruistic attempt to clean up its act, but it could also be related to a recent commitment by the South Korean government to allocate around £52m to help out “environmentally sustainable industries” and offer tax breaks to companies adopting green strategies.

Samsung recently climbed to second place in the July 2009 version of the Guide To Greener Electronics published by environmental pressure group Greenpeace. “Samsung holds its position in 2nd place and increases its score from 6.9 to 7.1, by committing to reduce its absolute emissions of greenhouse gases, despite growth in the company’s sales,” the report states. “Samsung scores relatively well on all the criteria. Since November 2007, all new models of LCD panels are PVC-free, important in driving the market to phase out PVC, with Samsung being the #1 supplier globally.

Samsung has also spoken of its green credentials in printing.