Samsung's 4.2 bln dlrs 'green' initiative

Jul 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.

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 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."

, 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.

(c) 2009 AFP

Explore further: Android grabs more tablet market share

add to favorites email to friend print save as pdf

Related Stories

Samsung Electronics reports 72% profit slump

Apr 24, 2009

South Korea's Samsung Electronics, the world's top computer memory chipmaker, has announced its first-quarter net profit fell 72 percent year-on-year as poor demand depressed prices.

LG Display to invest $2.6 bln for flat screens

Jul 15, 2009

South Korea's LG Display Co., one of the world's top LCD panel makers, has announced it would invest 3.27 trillion won (2.6 billion dollars) to meet the growing demand for flat-screen televisions.

Samsung announces earnings estimate

Jul 06, 2009

(AP) -- Samsung Electronics Co., the world's biggest manufacturer of memory chips, announced quarterly earnings estimates for the first time Monday, saying it hopes to reduce market confusion and speculation ...

JVC Develops Eco-friendly DVD Disk

Dec 08, 2004

According to JCN Network, Victor Company of Japan (JVC) has developed an eco-friendly DVD disk made from corn starch-based polylactide. The disk incorporates polyactide-based transparent plastic for optical disk use, wh ...

Hynix reports sixth straight quarterly loss

Apr 24, 2009

South Korea's Hynix Semiconductor, the world's second-largest computer memory chipmaker, Friday reported a sixth straight quarterly loss due to weak chip prices sparked by a global recession.

Recommended for you

Android grabs more tablet market share

1 hour ago

Global sales of tablet computers edged higher in the second quarter, in the slowest growth since 2009, research firm Strategy Analytics said Wednesday.

Microsoft CEO sees 'bold' plan as 4Q tops Street

13 hours ago

(AP)—Microsoft Corp. CEO Satya Nadella painted an upbeat vision of the future Tuesday, saying that the next version of Windows will be unified across screens of all sizes and that two money-losing units—Nokia ...

Apple's fiscal 3Q earnings top analyst forecasts

23 hours ago

Apple's growth prospects are looking brighter as anticipation builds for the upcoming release of the next iPhone, a model that is expected to cater to consumers yearning for a bigger screen.

Verizon 2Q profit rises 93 percent

Jul 22, 2014

Verizon reported Tuesday that its second-quarter earnings nearly doubled after it secured full ownership of Verizon Wireless.

User comments : 0