Samsung C&T "Pursuing Carbon Neutrality by 2050"

100% Renewable Energy Use by 2030
Promotion of Transition to Eco-Friendly Business Portfolio

[Asia Economy Reporter Kim Pyeonghwa] Samsung C&T is pushing for 100% renewable energy achievement by 2030 and carbon neutrality by 2050, eliminating carbon emissions by 2050. The company will gradually implement carbon neutrality measures while accelerating the transition to an eco-friendly business portfolio.

Samsung C&T announced on the 14th that it will build consensus on the necessity of carbon neutrality centered on the board of directors and promote systematic implementation plans. Following its coal phase-out declaration in October 2020, the company plans to establish detailed plans and take the lead in reducing carbon emissions.

Samsung C&T has set a goal to achieve the use of renewable energy at all business sites by 2030. It will first promote renewable energy use at overseas business sites with favorable renewable energy supply conditions and gradually expand renewable energy use at domestic business sites. In particular, it will improve the power generation efficiency of its owned asset, the Gimcheon solar power plant, to utilize renewable energy for itself and its affiliates. It will also simultaneously secure renewable energy certificates by country and green premiums.

Investment in research and development (R&D) to reduce carbon emissions will also continue. The company plans to develop carbon-reducing concrete using industrial by-products instead of cement, which has high carbon emissions, and expand its application on-site. Low-cement concrete, which emits about 30% of the carbon compared to conventional concrete at the raw material manufacturing stage, is being piloted on-site. In September, the company developed cement-free concrete that minimizes carbon emissions.

Reducing carbon emissions throughout the building life cycle (LCA: production, construction, operation, disposal) is also a key goal. Samsung C&T built a domestic material database for LCA this year and conducted LCA on two sites. In the future, it plans to build overseas material databases and continuously expand LCA target projects to use them as basic data for calculating other emissions.

To absorb and offset carbon, Samsung C&T plans to discover projects linked to its business, such as methane capture and renewable energy generation, recognized by the United Nations Framework Convention on Climate Change (UNFCCC).

At domestic and overseas business sites, the company will improve energy efficiency by adopting winter concrete curing methods suited to each business characteristic, introducing high-efficiency heaters, and implementing waste heat recovery systems at incineration plants. Additionally, by 2030, it plans to convert about 900 company-owned or leased business vehicles to zero-emission electric vehicles.

Campaigns involving employees, partner companies, and customers, as well as educational programs for all employees, will be conducted year-round. By establishing a management system for other emissions beyond direct and indirect emissions, the company plans to broaden consensus on carbon neutrality.

Samsung C&T stated, "While gradually implementing carbon neutrality measures, we will also develop eco-friendly energy businesses such as hydrogen, solar power generation, small modular reactors (SMR), and battery recycling," adding, "We will continue to promote the transition to an eco-friendly business portfolio by expanding recycled material fashion brands and realizing eco-friendly resorts."

This content was produced with the assistance of AI translation services.