Go to Contents

samsungcnt

  1. OUR BUSINESSES
  2. CSR
  3. Cover Story

Cover Story homeOUR BUSINESSES

Eco-friendly Business for a Sustainable Future

A sustainable business for the future

There is an increasing demand to change the industrial structure based on the consumption of fossil fuels following the universal, legally binding global climate deal of the new climate regime. Global companies such as Apple and Google have recently announced the increased use of new & renewable energy one after another since it is an important global agenda in tackling environmental issues, which are largely focused on climate change. All of this has led to an increasing awareness of corporate social responsibilities and the pursuit of social value. Being environment-friendly is no longer an option but a necessity for corporations. The Samsung C&T is coping with climate change issues through the launch of large-scale new & renewable energy projects while also fulfilling its social responsibilities as a global company by creating jobs and returning a portion of its profits to society. Moreover, the company is applying environment-friendly technologies all throughout the construction stages, thereby providing a healthy and pleasant environment.

Eco friendly Business Eco friendly Business
Creation of social value through new & renewable energy

The Samsung C&T T&I Group launched a power generation plant construction project with a total capacity of 1,369MW (wind and solar) after signing the GEIA (Green Energy Investment Agreement) with the government of Ontario, Canada in 2010. The Ontario Green Energy Project is the largest overseas development project ever carried out by a Korean company, and the real significance lies in the fact that it was the T&I Group that proposed the new & renewable energy energy cluster project to the government of Ontario, which was in need of a new source of green energy and new jobs. The technology and drive demonstrated by the Samsung C&T in the new & renewable energy project have earned the trust of the client while also contributing to the local community and greatly improving the company's brand image.

Response to climate change

The aim of the Ontario Green Energy Project is to replace the existing coal-fired power plants with solar and wind power stations with annual capacity of approx. 4,128GWh*, thereby reducing CO₂ emissions by around 3.53 million tons. It accounts for about 8.7% of the total greenhouse gas emissions from Ontario in 2016. **

*GWh : Giga watt hours**Greenhouse gas emissions in 2016 as posted on the Ontario government website.

Ontario Project Expected results of a response to climate change

Ontario Project Expected results of a response to climate change
New & renewable energy energy production Estimated reduction of CO₂ emissions*
4,128 GWh / year 3,533,568 tCO₂ / year

Estimated reduction : excluding emissions from facility production and operation

Contribution to the local community

Through the green energy project, The T&I Group has contributed to obtaining a new source of energy for Ontario, Canada - where stable power supply was questionable due to the decommissioning of old power plants in the city - and created more than 9,000 jobs in the process. The company has also established a cooperative relationship with the local government and aboriginal community and created a fund and a program to share a portion of the profit from the project with the local community as part of its endeavors to contribute to the local community. The fund is used for scholarships for local students, infrastructure maintenance, and donation to the local community.

Related Information