Samsung Electronics Co., the world’s largest smartphone and memory chipmaker, will soon join The Climate Group’s RE100 Initiative, a global eco-friendly organization whose members commit to shifting to 100% renewable energy by as early as 2025. According to people familiar with the matter, the company will announce its renewed environmental, social, and governance (ESG) strategies in the coming weeks, including its RE100 projects. The company’s move follows the Korean government’s decision which to grant Samsung heir, Lee Jae-yong a presidential pardon in view of the conglomerate’s significant role in the national economy. According to analysts, joining the RE100 Initiative could strengthen a company’s competitiveness in the export market amid the tightening of global environmental rules. Among the over 360 signatories to the RE100 Initiative, 14 are South Korean enterprises, including Hyundai Motor and LG Energy Solution.

Source: The Korea Economic Daily