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Samsung Fossil Fuel Reliance ‘an Investment Risk’ – FT

That poses “systemic risks” to its future, the newspaper said, with customers and governments increasingly demanding more sustainable supply chains


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Samsung has long acknowledged the risk of inaction on climate change, estimating based on 2020 revenue that up to 25.8 trillion won ($20.6 billion), or 20%, of its business-to-business sales such as chips could be lost if it does not switch to renewable energy. Photo: Reuters.

 

Samsung Electronics appears more reluctant than major peers such as Apple, TSMC and SK Hynix to commit itself to using only renewable energy and weaning itself off fossil fuels, the Financial Times reported.

That poses “systemic risks” to its future, the newspaper said, with customers and governments increasingly demanding more sustainable supply chains and 100% renewable electricity use commitments.

 

Read the full report: Financial Times

 

 

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

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