![]() Samsung’s 2023 Sustainability Report and the accompanying press release make several references to the company having completed the transition to renewable energy use in for specific divisions and various countries including the U.S., Vietnam, India, Brazil, Hungary, Slovakia, and Poland. ![]() Samsung faces considerable challenges to implement effective measures to decarbonise its electricity due to the lack of conducive regulatory frameworks for high quality renewable energy procurement in some of the countries that it operates, but a transparent recognition of the limitations that the company faces to implement more meaningful measures would be more constructive than absolute assertions that the transition to renewable energy is complete. What does it mean that Samsung has “completed the transition to renewable energy” in various countries? ![]() The 2023 Sustainability Report makes particularly bold claims with regards to having “completed the transition to renewable energy” and having reduced its emissions by 59% in one year, which we consider to be somewhat exaggerated and misleading (see below). The shortfalls of the company’s net zero and carbon neutrality targets appear not to have been addressed. The document reaffirms commitments announced as Samsung’s New Environmental Strategy in September 2022. Samsung’s 2023 Sustainability Report does not significantly advance on announcements and targets that the company has previously communicated. Has Samsung made any significant new commitments or claims in its 2023 Sustainability Report? Samsung currently procures a low volume of renewable energy, continues to rely on low quality renewable energy certificates and commits to the relatively weak target year of 2050 for 100% renewable energy, although pathways consistent with limiting global warming to 1.5 ☌ would require the decarbonisation of power supply in OECD countries by 2030. Underpinning some of these shortcomings in Samsung’s targets is a lack of a clear plan or transparency on scope 3 emissions, which were not reported in Samsung’s public documentation despite accounting for approximately 86% of the company’s GHG emissions in 2021.Ī new member of the RE100 initiative – we found considerable potential for improvement in Samsung’s current approach to renewable electricity. While long-term ambition fell short, plans for short-term action remain even less clear, with its 2030 net-zero carbon emissions target covering only specific divisions and emission scopes that may account for just 2% of the company’s 2019 emissions. We found that Samsung’s net-zero target for 2050 amounted to a commitment to reduce just 20% of its 2019 emission footprint, due to its coverage of only scope 1 and 2 emissions. What were the findings of the CCRM, pertaining to Samsung’s climate strategy?īased on analysis of Samsung’s public documentation from 2022, the Corporate Climate Responsibility Monitor (CCRM, published February 2023) rated Samsung Electronics’ climate strategy as “low” for transparency and “very low” for integrity. ![]() This memo contains a Q&A reaction with the authors of the Corporate Climate Responsibility Monitor (CCRM), on the extent to which Samsung’ 2023 Sustainability Report released on 30th June represent an improvement on its climate strategy. September 15 is the 1st anniversary of Samsung Electronics (hereon referred to as Samsung) announcing a new environmental strategy which includes pledges to achieve net zero emissions by 2050 and a declaration to join the RE100 initiative. Q&A with Thomas Day from NewClimate Institute – 14 September 2023
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