Samsung Electronics announced today to invest more than $4 billion for ‘green future’ initiative. The company has stated that over the next five years, the “PlanetFirst” project focuses on eco-management through low-carbon growth with more energy-efficient products.
It involves cutting greenhouse gas emissions 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, AFP reports.
"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", said vice chairman and CEO Yoon-Woo Lee at a press meet.
Samsung Electronics is the world's largest electronics company, headquartered in Seocho Samsung Town in Seoul, South Korea. It is the largest South Korean company and the flagship subsidiary of the Samsung Group. It is also the global market leader in more than 60 products, including semiconductors, home electronics, set-top boxes and projectors, mobile devices, computing products and home appliances. In 2005, Samsung surpassed Japanese rival Sony for the first time to be rated as the new leading and most popular consumer electronics brand in the world by Interbrand.
At the end of 2007, Samsung Electronics exceeded the $100 billion mark in annual sales for the first time in its history. This achievement places the company, along with Siemens of Germany and Hewlett-Packard of the U.S., among the world's top three companies in the electric appliances and electronics industry.