Technology giant Samsung Electronics has said it is to invest $5 billion in a new environmental strategy, which will include plans to achieve net-zero emissions across its global operations.

Under the plans the company has committed to achieve enterprise-wide net zero carbon emissions and plans to use more renewable energy, as well as to invest in and research new technologies to develop energy-efficient products, increase water reuse and develop carbon capture technology.

At the heart of the new commitment is achieving net zero carbon emissions (Scope 1 & Scope 2) for all operations in the Device eXperience (DX) Division by 2030, and across all global operations, including the Device Solutions (DS) Division, by 2050. The DX Division encompasses the company’s consumer electronics businesses, including Mobile eXperience, Visual Display, Digital Appliances, Networks and Health & Medical Equipment, while the DS Division includes the Memory, System LSI and Foundry businesses.

Samsung Electronics has also joined RE100, a global initiative dedicated to pursuing 100 percent renewable energy. As part of this commitment, the company plans to match electric power needs of all international markets where it operates, outside of Korea, with renewable energy within five years.

“The climate crisis is one of the greatest challenges of our time. The consequences of inaction are unimaginable and require the contribution of every one of us, including businesses and governments,” said Jong-Hee Han, vice chairman and CEO of Samsung Electronics. “Samsung is responding to the threats of climate change with a comprehensive plan that includes reducing emissions, new sustainability practices and the development of innovative technologies and products that are better for our planet.”

“In recognition of the need for innovative approaches around environmental sustainability, Samsung Electronics will invest over KRW 7 trillion in its environmental initiatives by 2030, including reducing process gases, conserving water, expanding electronic waste collection and reducing pollutants,” the company added. “The investment figure excludes costs related to expansion of renewable energy use.”

Samsung Electronics added that as part of the plans it will look to the performance of its supply chain partners.

“Our environmental commitment also encompasses an enterprise-wide effort to enhance resource circularity throughout the entire product lifecycle, from raw material sourcing to recycling and disposal,” it added. “The plan also details investments in new technologies to reduce emissions from process gases as well as to reduce power consumption in consumer products. The company also plans to explore carbon capture and utilisation technologies and tackle harmful airborne particulate matter.”

In its efforts to reach its net-zero targets Samsung said it will invest heavily in “innovative technologies” for treatment facilities that reduce carbon emissions. The company plans to develop new technologies to significantly reduce process gases, a by-product of semiconductor manufacturing, and install treatment facilities on its semiconductor manufacturing lines by 2030. It will continue to expand waste heat utilization facilities and consider introducing electric heat sources to reduce LNG boiler usage.