Samsung to Spend $4.2 Billion on 'Green' Initiative

Will cut emission from its plants by 50%

Samsung Electronics on July 20 announced a $4.29 billion 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. It involves cutting greenhouse gas emissions from plants by 50% 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 company will spend 3.1 trillion developing eco-friendly products and 2.3 trillion on energy-saving technologies and greening its manufacturing plants.

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.

Copyright Agence France-Presse, 2009

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