Plan to achieve 2050 Net Zero
– Achieve 100% renewable energy by 2030 and net zero carbon emissions by 2050
⦁ Implement solar repowering to Samsung C&T’s solar power plant in Gimcheon to increase efficiency (up to twofold increase in power generation)
⦁ Obtain overseas renewable energy certificates and domestic green premium
Further develop carbon reduction technologies and identify offset/absorption projects
– Develop low-carbon, low/non-cement concrete as well as technology for
managing carbon emissions throughout the life cycle of buildings such as materials databases and Life Cycle Assessments
– Promote carbon offset/absorption projects available for global certification under United Nations Framework Convention on Climate Change (UNFCCC) such as methane capture and renewable energy generation
Make efforts to transition to low-carbon business sites with high efficiency
– Improve energy efficiency across key business sites at home and abroad
⦁ Improve construction methods and introduce energy efficient manufacturing equipment and waste heat recycling system
– Full transition of corporate fleet of around 900 vehicles fleet into non-polluting EVs by 2030
Realize Net Zero with all stakeholders
– Hold annual campaigns with participation of customers, employees, partner companies, and local communities
– Build management system for value chain emissions (Scope 3) and set target
※ Samsung C&T’s efforts to become a sustainable company with green portfolios will continue
⦁ Includes hydrogen and solar power projects (Engineering & Construction Group/Trading & Investment Group), small modular reactors (E&C), waste battery recycling (T&I), and use of recycled fabric/green packaging materials (Fashion)
Samsung C&T announced on Monday its “2050 Net Zero” plan, which aims to achieve 100% renewable energy by 2030 and net zero carbon emissions by 2050.
As an extension of its coal-exit declaration in October 2020, Samsung C&T’s Board of Directors formed a consensus and agreed to carry out systematic implementation plans related to the “2050 Net Zero” strategy.
Achieving 100% renewable energy
To achieve the goal of using only renewable energy across all of its business sites by 2030, Samsung C&T will initially focus on overseas sites with robust renewable energy supply conditions and then extend the use of renewable energy at domestic sites in a progressive manner.
In particular, after improving the generation efficiency of the company’s solar power plant in Gimcheon, Samsung C&T plans to supply renewable energy to its business sites and affiliates while securing overseas renewable energy certificates and domestic green premium recognition.
Investing in carbon-reducing technologies
Samsung C&T will continue to strongly invest in research and development for the reduction of harmful emissions.
The company plans to develop and expand the on-site application of low-carbon concrete made up of industrial by-products instead of cement, which emits a lot of carbon. Low-cement concrete, which releases only 30% of the emissions of regular concrete during production, is already being applied on-site as part of a pilot project. In September, Samsung C&T also already developed non-cement concrete that minimizes carbon emissions.
In addition, the company is reducing carbon emissions throughout the phases of construction (production, construction, operation, and demolition). In 2022, Samsung C&T set up a domestic materials database for Life Cycle Assessment (LCA) and LCA projects were executed at two sites. Looking ahead, the company plans to build an overseas materials database and continue to extend LCA projects to use them as a reference for Scope 3 calculation.
Moreover, Samsung C&T will lead efforts to absorb and offset carbon emissions by identifying potential projects related to its own businesses that can be recognized under the United Nations Framework Convention on Climate Change (UNFCCC), such as methane capture and renewable energy generation.
Fostering low-carbon and energy-efficient business sites
To improve energy efficiency, Samsung C&T’s domestic and overseas business sites are set to come up with measures suited to each of their characteristics, including improving the way they cure concrete in winter, adopting highly efficient heaters, and introducing a recycling system using waste heat from incineration plants. The company additionally plans to switch approximately 900 vehicles that it owns or leases to non-polluting EVs by 2030.
Going forward, Samsung C&T will expand the net zero consensus by conducting campaigns with employees, partners, and customers; holding annual training programs for all employees; and establishing a management system for value chain emissions.
Samsung C&T plans to carry out these net zero measures in phases while continuing to shift towards environmentally friendly business portfolios. Such efforts include developing green energy projects such as hydrogen and photovoltaic power generation, small modular reactors, battery recycling, expanding fashion brands that utilize recycled fabrics, and realizing green resort sites.
