December 26, 2024

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Samsung SDI’s prismatic EV battery cells (Samsung SDI)

Samsung SDI has established a new organization to accomplish its environmental, social and governance goals, including a full transition to renewable energy by 2050.

According to the South Korean battery firm Thursday, its board of directors formed a sustainability committee to bolster ESG efforts. Also, an ESG strategy team, which previously belonged to the firm’s strategy division, has been elevated to a sustainability management office directly under the chief financial officer.

The reshuffle is expected to accelerate the company’s goal to shift to 100 percent renewable energy at all business sites home and abroad by 2050.

Also, the company last year completed a system to recycle used-up electric vehicle batteries and plans to expand it to overseas facilities.

On top of its ESG commitments, Samsung SDI is plain sailing with robust performance, achieving a milestone operating profit of more than 1 trillion won ($885.3 million) last year, buoyed by strong demand for EVs and energy storage systems.

By Kim Byung-wook (kbw@heraldcorp.com)