Samsung Electronics to invest $4.3bn in green transformation

South Korea's Samsung Electronics has said it will invest $4.3bn (£2.6bn) as part of an initiative to develop new energy-efficient products and halve carbon emissions from its factories by 2013.

The consumer electronics giant today unveiled its Eco-Management 2013 plan, under which it will spend $2.5bn on improving the energy efficiency of its products – including TVs, refrigerators and air conditioning systems – with a goal of delivering the highest levels of efficiency in the consumer electronics industry.

Under the plan, standby power consumption on many products will also be halved from 1W to just half a watt, while the company has said it will work to identify new recyclable and organic materials that could be used in the manufacture of consumer products such as laptops and mobile phones.

Meanwhile, $1.8bn will be invested in halving greenhouse gas emissions from Samsung manufacturing plants.

The company said the new investment programme will focus on reducing the level of industrial halogenated gases used in its LCD and semiconductor production lines, and improving energy management systems at all its factories.

The announcement will provide a further boost to South Korea's efforts to establish itself as a clean tech hub. Earlier this month, the South Korean government released details of its plan to invest $85bn in environmentally sustainable industries, outlining measures to encourage more private funding into the sector by offering tax breaks and loan guarantees to green companies.

It is not yet clear to what extent Samsung will take advantage of these various incentives, but the company is likely to seek government support for parts of its green investment programme.