November 26, 2024

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(Samsung Electronics)

BERLIN – Samsung Electronics co-CEO Han Jong-hee on Thursday hinted that the South Korean tech giant will unveil a new sustainable growth strategy soon, possibly its delayed decision to join the RE100 global initiative.

“We will announce a clearer goal that is also achievable,” he said at a press conference in Berlin held on the sidelines of the IFA trade show that kicks off Friday.

The RE100 initiative sets a 2050 target for using 100 percent renewable electricity. Samsung's global rivals like Apple, TSMC and Sony have already joined the initiative.

At home, Samsung, the nation’s largest conglomerate, remains the only one among the top four chaebol groups that has not yet joined the initiative. The four groups also include SK, Hyundai Motor and LG.

During the second-quarter earnings conference call in July, the company said it was setting up a new business strategy for sustainable growth, including efforts to fight climate change, adding it planned to share more details with the public.

“We have thus far made no official announcement on ESG (environmental, social and governance) because we had some concerns about greenwashing,” he said. Greenwashing is a form of marketing spin deceptively used to persuade consumers that a company’s products, aims and policies are environmentally friendly. However, he declined to further elaborate on the exact timing of the RE100 announcement.

By Lee Ji-yoon (jylee@heraldcorp.com)