Samsung Electronics' Roadmap to 100% Renewable Energy ｜Greenpeace

greenpeace.org/korea

June 2021

SAMSUNG ELECTRONICS’ ROADMAP TO 100% RENEWABLE ENERGY

For more information contact: enquiry.kr@greenpeace.org Co-Authors: Jude Lee and Justine Holmes Experts: Daul Jang Research: Greenpeace East Asia and Southeast Asia office Design by: chemdyeillustrations.com

Published in June 2021

by Greenpeace East Asia Seoul 6F, Cheongryong BLDG, Hangangdaero 257 Seoul, South Korea greenpeace.org/korea

Samsung Electronics’ Roadmap To 100% Renewable Energy

Content 01 Executive Summary

02 Samsung Electronics ‘Doing Bigger Things’

03 Samsung Electronics The Market Leader

04 ICT Growth Powered

by Fossil Fuels

greenpeace.org/korea

05 Race To 100 % Renewable Energy

by Corporations

06

Recoveries in Korea & Vietnam Led by Renewables?

07 Checking In With Samsung’s 100% Renewable Energy Pledge

08 Path To Climate Change Mitigation Leadership

01 Executive Summary

Samsung Electronics’ Roadmap To 100% Renewable Energy

2

Executive Summary In June 2018, Samsung Electronics announced its commitment to source 100% of its energy use with renewable energy by 2020 for all of its operations in the US, China and Europe; increase use of renewable energy around the world where renewable energy was accessible; install solar panels and geothermal power generation facilities at its Korean facilities; work with suppliers to help them increase their use of renewable energy; and join the CDP supplier program. However, the commitment did not include key manufacturing facilities in Korea and Vietnam where power generation depended heavily on fossil fuels and accounted for over 80% of Samsung Electronics’ total electricity usage at the time of commitment. In March 2021, Samsung Electronics reported that it had achieved its target in the US, China and Europe by successfully implementing different programs such as RECs, green pricing, PPAs and direct investment and further stated that they will “continue to monitor the ongoing climate change situation and pursue energy-efficient products and manufacturing processes in order to reduce greenhouse gas emissions and promote the usage of renewable energies”.

This report set out to identify key updates since 2018 relating to; Samsung’s growth and impact; growth and electricity use trend of the ICT sector including climate impacts; corporate uptake of renewable energy; renewable energy policy barriers and opportunities in Korea and Vietnam; and Samsung’s progress with its 100% renewable energy pledge. Analysis presented in this report can serve as a foundation for the identification of priority goals and actions that, when implemented, would place Samsung among the ranks of companies leading the fight against climate change starting 2021.

Executive Summary

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Key findings 1. Based on its scale of business and impact on the overall economies of Korea and Vietnam, Samsung Electronics is in a position to lead sustained advocacy efforts for improved access to and investment in renewable energy capacity in Korea and Vietnam.

2. The ICT sector can play a critical role in curbing rising global emissions both by reducing its own emissions by quickly adopting renewable energy and by introducing innovative platforms and advanced technologies such as 5G and smart-grid technologies to help reduce emissions and improve the energy efficiency of other sectors.

3. Multinational corporations who lead climate actions are accelerating the transition to cleaner, renewable energy sources by; setting aggressive 100% renewable energy targets for their global operations by 2030 or earlier in line with climate mitigation goals laid out in the Paris Agreement; setting 100% renewable energy targets for their supply chains; providing financial incentives to suppliers for committing to renewable energy transitions; and implementing the most impactful renewable energy sourcing options such as corporate PPAs and direct investment for large-scale solar and wind projects that contributes to an increase of local and additional capacity. Corporations who are climate action leaders also advocate for more aggressive renewable energy targets in difficult-to-source markets.

4. An increasing number of RE-friendly policy options are being made available to industrial consumers of electricity in both Korea and Vietnam. Korea has recently introduced corporate PPAs and Vietnam is about to introduce direct PPAs and solar and wind auctions in 2021. As more market barriers are being removed, it will make it easier for heavy-volume industrial electricity consumers to meet their renewable energy goals through solar and wind-generated energy and accelerate the energy transition in Korea and Vietnam.

5. Samsung Electronics has announced that it has achieved its 100% renewable energy target in the US, China and Europe by 2020. In 2020, renewable energy represented 17.6% in Samsung’s overall energy mix and scope 2 emissions have decreased in 2019 as a result. But, in 2019, the result credits almost 66% use of less impactful options including unbundled RECs in the target markets. In addition, Samsung is yet to extend its pledge beyond 2020 and the majority of Samsung’s total energy use – 82% - is still generated by fossil fuels and mainly in Korea and Vietnam where Samsung’s electricity use and associated emissions are rising steadily due to ongoing investment in new and expanded production facilities driven by demand for products.

Scope 3 emissions accounting for suppliers and logistics also continued to rise year on year from 2017-19 although dipped slightly in 2020, likely due to energy efficiency initiatives and the impact of the COVID-19 pandemic.

Executive Summary

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To solidify its trajectory towards climate change mitigation leadership in 2021, Samsung should implement the following actions without delay;

1

More actions for Korea and Vietnam

2 Clean supply chain

Extend its 100% renewable energy commitment beyond 2020 to make it applicable to its global operations and within aggressive timeframes leading to the transitioning to renewable energy sourcing at its major production sites in Korea and Vietnam. Samsung’s commitment to 100% renewable energy must also apply to any and all future or planned expansion of production capacity.

Set an aggressive 100% renewable energy goal for its manufacturing supply chain; offer financial incentives to suppliers to facilitate the transition including financial aid for renewable energy projects close to factories and establish 100% renewable energy criteria to give preference to new and existing suppliers that are pursuing 100% renewable energy within ambitious timeframes.

3 Choose impactful renewable energy options

4 Advocacy

Choose impactful renewable energy sourcing options such as PPAs and direct investment that are in compliance with the fundamental procurement principles of local, additional and advocacy. Implement more impactful options in the US, China and Europe.

Advocate for improved RE-friendly policy mechanisms and investment projects with governments, utility companies, other corporations and Samsung-affiliated companies.

Executive Summary

02

Samsung Electronics ‘Doing Bigger Things’

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Samsung Electronics ‘Doing bigger things’ The Guide to Greener Electronics 2017 report published by Greenpeace presented the extent of the growing environmental impact of the world’s leading technology companies and used criteria including commitment, performance, transparency and advocacy to assign scores across three impact areas: energy, resources and chemicals. In the report, Samsung Electronics (herein referred to as Samsung) was assigned a D grade and placed near the bottom of Greenpeace’s ranking due to its poor record of transitioning its manufacturing facilities and supply chain to renewable sources of energy1. This sparked a year-long campaign by thousands of Greenpeace supporters around the world calling out Samsung to ‘Do Bigger things’ as a sarcastic reminder of the tagline being used to promote Samsung’s Galaxy smartphone at the time. Specifically, protests called for Samsung to pledge its commitment to 100% renewable energy for all of its business operations and those of its suppliers2.

On June 14, 2018, Samsung announced an ambitious new renewable energy sourcing strategy that included a commitment to achieve 100% renewable energy by 2020 for all of its operations in the US, Europe and China where 17 of its 38 global manufacturing factories, offices and buildings were located. It also committed to; increase its use of renewable energy around the world; add solar panels and geothermal power generation facilities to its Korean campuses in Suwon, Pyeongtaek & Hwaseong; work with its top 100 partner companies to help them set their own renewable energy targets; and join the CDP Supply Chain Program.

Samsung Electronics ‘Doing bigger things’

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Revisiting Samsung’s pledge Samsung plans to source renewable energy for 100% of the energy used for all of its factories, office buildings, and operational facilities in the United States, Europe and China by 2020. In the medium to long-term, the company will seek to further increase its use of renewable energy around the world.

Samsung will additionally install approximately 42,000m2 of solar panels is in Samsung Digital City, its headquarters in Suwon. The company will continue to add approximately 21,000m2 of solar arrays and geothermal power generation facilities beginning 2019 in its Pyeongtaek campus and 2020 in its Hwaseong campus.

Samsung plans to work with its top 100 partner companies to help them set their own renewable energy targets, in partnership with the Carbon Disclosure Project Supply Chain Program, which the company intends to join next year.

Fig. 1 Samsung’s June 2018 100% renewable energy pledge3.

Samsung became the first major Asian multi-national electronics corporation to make such a pledge and solidified its path on the road to becoming a leader in the fight against climate change. If achieved, it would reduce Samsung’s global carbon footprint by increasing renewable energy sourcing in the overall energy mix from 1% to 20% by adding 3.1GW within two years. It was therefore welcomed by Greenpeace as “a major step forward for the movement to build a renewable-powered future”. Greenpeace also stated that “if the company follows through with meaningful actions, it will join the ranks of innovative business leaders recognizing the sense of urgency around climate change and showing a different future is still possible”4. Unfortunately, however, Samsung’s 2018 pledge did not include 100% renewable energy goals for its key production sites in fossil fuel-dependent Korea and Vietnam which together accounted for almost 80% of its global electricity use5. At the time, Samsung cited a lack of renewable energy infrastructure and policy barriers making it difficult to source renewable energy in either of these markets as the reason for excluding Korea and Vietnam and stated that it had decided to focus on US, China and Europe because they were “well-equipped with infrastructure for the development and transmission of renewable energy”6.

Samsung electronics ‘Doing bigger things’

Samsung Electronics’ Roadmap To 100% Renewable Energy

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In March 2021, Samsung announced that it had achieved its 100% Renewable Energy targets in the US, China and Europe7. This report will reexamine previous Greenpeace reports including ‘Guide to Greener Electronics’ (2017) and ‘Doing Bigger Things’ (2018). It will identify key trends since 2018 relating to; Samsung’s growth and impact; growth and electricity use by the ICT sector including climate impacts; corporate uptake of renewable energy; renewable energy policy barriers and opportunities in Korea and Vietnam; and Samsung’s progress in pursuit of its 2018 pledge. This analysis will form the basis for the identification of priority goals and actions that, when implemented, would resume Samsung’s place on the path towards climate change mitigation leadership in 2021.

Samsung electronics ‘Doing bigger things’

03

Samsung Electronics the market leader

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Samsung Electronics the market leader Look around your home. It is likely that your phone, TV, refrigerator, washing machine, oven or airconditioning unit - or some of its parts at least - are made by Samsung. Over the last several decades, Samsung’s high-tech, innovative and increasingly smart products have helped secure its position as one of the world’s leading electronics companies. Samsung has led the global smartphone market for over nine years and also reigns No.1 in the global mobile, TV, memory and US home appliances market8. In Q3 2020, as the world battled with the raging COVID-19 pandemic, it rolled out over 80 million smartphone units, which were almost double the volumes of two of its closest competitors - Huawei and Apple9. With Samsung’s IT and mobile communications business being one of its biggest revenue generators10, as of 2017, Samsung had USD 17 billion invested in its largest smartphone manufacturing base in Vietnam generating nearly a third of its global output and resulting in Samsung being responsible for almost a quarter of Vietnam’s total exports of USD 214 billion11. Meanwhile, Samsung’s ‘Device Solutions’ business makes the company a key supplier of IT components such as semiconductors to some of the world’s largest technology companies including Apple, Deutsche Telekom and Verizon12. In 2020, Samsung’s global revenue reached KRW 236.81 billion with an increase in operating profit of nearly 30% from the previous year to KRW 35.9 trillion13. Samsung’s business is projected to grow further in 2021 driven by increasing demand for memory chips due to expansion of 5G connectivity as well as releases of new smartphones14. While Samsung’s revenue was equivalent to an eighth of the total Korean economy15, it contributed to almost a fifth of all Korean exports in 201916. Exports of chips have also been credited with helping the Korean economy rebound from the COVID-19 pandemic in 202117.

16%

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Fig. 2 Samsung Electronics revenue equivalent to an eighth of economy

Samsung Electronics the market leader

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To facilitate its worldwide business operations, Samsung is divided into three business areas; Device Solutions, Consumer Electronics and IT & Mobile Communications each led by its own CEO18. In 2019, it had 230 global bases employing 287,439 people in 74 countries and working with 2,208 suppliers19.

Samsung worldwide operations Southeast Asia

Latin America

Southwest Asia

North America

Middle East

China

CIS

South Korea

Europe

Japan

Africa

EMPLOYEES

SUPPLIERS

COUNTRIES

287,439

2,208

74

Fig. 3 Samsung worldwide operations

Samsung Electronics the market leader

R&D EXPENDITURE

20.2

KRW trillion

Samsung Electronics’ Roadmap To 100% Renewable Energy

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Samsung Group is the parent company of many Samsung subsidiaries including Samsung Electronics, which contributed almost 80% of the group’s total revenue in 202020. The Samsung Group itself is the largest familyrun conglomerate or ‘chaebol’ in South Korea that reported a total operating profit of KRW 43.3 trillion in 202021. By topping KRW 700 trillion in the total market capitalization of its shares in the Korean stock market, the Samsung Group set a new record in 202022. The Samsung Group is made up of 59 domestic affiliates operating in industries ranging from heavy industries to hospitality23. In recent months, Samsung SDI and Samsung Biologics have emerged as rising stars of the group given their specialty on EV batteries and vaccine science, respectively24.

Members of Lee’s family & Samsung Foundation

Vice Chairman

Samsung C&T

Samsung Biologics

Samsung Electronics

Samsung Life

Fig. 4 Samsung Group’s governance structure25

Samsung Electronics the market leader

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It is the group’s construction subsidiary, Samsung C&T, that has been heavily criticized by environmental advocacy groups for its continued support of a new 1.2GW coal-fired power plant in Vietnam, Vung An 2, which is not in compliance with the climate mitigation goals laid out in the Paris Agreement but also the sustainability goals set by Samsung Electronics. Samsung Electronics Vice President, Kim Suk-Ki, came to admit at a recent government hearing that the brand of Samsung had been hurt by its construction subsidiary’s involvement in a project for such a heavily polluting power plant26. Despite more recent pledges by both Samsung C&T and two of its financial affiliates - Samsung Life and Samsung Fire & Marine Insurance to end financing and other support for any new overseas coal-related projects, shift investment to renewable energy and develop ESG management plans27, Samsung is sticking to its involvement in on-going coal-fired power plant projects in both Vietnam and Korea, which could undermine both Korea and Vietnam’s ability to meet international climate mitigation obligations including a required phase out of coal use by 2029 in Korea to meet the Paris Agreement28. Another affiliate, Samsung Heavy Industries, is also a leader in the global oil & gas industry29.

Given Samsung’s scale of business and impact on the overall economies of Korea and Vietnam and its pledge to pursue renewable energy goals in other markets, it has the power to make great strides in Korea and Vietnam by pursuing easier access to renewable energy in the two countries. Doing so can reduce Samsung’s reputational risk, but it will also accelerate the energy transition and help contribute to mitigating the impact on the climate crisis. In fact, the environmental pledge Samsung made in 2018 and issuing official support for the Korean government’s then national strategic plan to increase the country’s renewable energy use to 20% by 2030 sent a strong signal to the government that all Koreanbased corporations are urgently in need of improved access to renewable energy sources such as solar and wind30. For these reasons, it is regrettable that Samsung did not include both markets in its 100% renewable energy pledge in 2018.

Samsung Electronics the market leader

04 ICT growth powered by Fossil Fuels

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ICT growth powered by Fossil Fuels Undoubtedly, the digitalization of society and leaps in technology and innovation that now underpin most aspects of our lives have rapidly changed the way we live, work, travel and entertain in amazing ways.

Consumer demand for smart, high-tech and network-connected devices capable of making our lives more comfortable, convenient and connected – especially during the COVID-19 pandemic - has powered the exponential growth of the technology industry for the last 20 years. For example, subscription of mobile communication has grown from fewer than 1 billion to exceed 6 billion worldwide since 200031. In 2018, the five biggest technology companies took the top spots in terms of market capitalization among all companies32 and, in 2021, the 10 biggest tech companies – including Samsung - are valued at over USD 9 trillion in terms of their combined market capitalization33 and USD 1.5 trillion in terms of combined revenue.

Fig 5. Top Ten Tech Companies in 2021 By Revenue in USD

ICT growth powered by Fossil Fuels

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The global ICT sector is also projected to grow at a rate that is twice higher than that of GDP in the next few years propelled by the emergence of new technologies34. Rapid growth of the ICT sector has also resulted in an equally steep increase in the use of electricity generated by dirty energy sources including coal, petroleum and natural gas leading to greater impact on the climate. Estimates vary but the sector now accounts for approx. 5 to 9% of global electricity use to power its expanding offices, data centers and production sites. The estimate is projected to increase to 20% by 203035 responsible for 23% of global emissions in the worst-case scenario36, making it at par with emissions from the entire transport sector37.

Fig. 6 Electricity Consumption Linked to the Global ICT Sector 2010-203038 Electricity consumption used for the manufacturing phase of consumer devices is also projected to increase39, which is significant given that for many consumer electronics products, over 70% of GHG emissions already occurs during the manufacturing phase40 before a mobile phone or computer is actually used to make a call or send an email. The electronics supply chain is also now currently one of eight supply chains responsible for more than 50% of global emissions41.

ICT growth powered by Fossil Fuels

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Across all sectors, burning fossil fuels for power generation today accounts for around 40% of energy- related CO2 emissions and more than a quarter of greenhouse gas emissions42. Dirty fossil fuel sources are still used for over 65% of electricity generation with emissions from overall electricity generation doubling from 6.3 GtCO2 to 12.5 GtCO2 in the past 27 years43 which is equivalent to the emissions from 755 billion smartphones being charged OR 1563 coal fired power plants in one year. Despite some decoupling of emissions from electricity use due to the expanded uptake of renewable energy, overall electricity generation and its associated emissions are still projected to increase from 26,000 TWh in 2017 to more than 40 000 TWh in 204044. When breaking down the electricity consumption by end users, commerce and industry (C&I) currently accounts for almost 50%45.

Fig. 7 Electricity generation and related emissions 1990 – 201746

ICT growth powered by Fossil Fuels

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Samsung Electronics’ Roadmap To 100% Renewable Energy

And now, we find ourselves in the middle of a climate crisis. Deadly wildfires, devastating floods, widespread and toxic air pollution, and record-breaking storms are ravaging communities and ecosystems against a backdrop of rising global emissions even after the Paris Agreement was signed in 2015. There remains a stark gap between what urgently needs to be done to reduce global emissions and what is being done based on the latest analysis confirming that “despite a brief dip in carbon dioxide emissions caused by the COVID-19 pandemic, the world is still heading for a temperature rise in excess of 3°C this century – far beyond the Paris Agreement goals of limiting global warming to well below 2°C and pursuing 1.5°C”47. For the more ambitious 1.5C limit, worldwide coal use for all purposes would need to fall by almost 80% by 2030 - which is equivalent to closing all coal-fired power plants in the world48, and it is estimated that electricity generation using renewable sources needs to grow eight times faster than the current rate to halt global heating49.

Based on its current and projected levels of electricity consumption, the fast-growing ICT sector has a critical role to play in combating the climate crisis by reducing its own emissions through rapid implementation of renewable energy, known to be the quickest way to curb global heating. At the same time, the ICT sector can also be a part of the solution by carrying out a unique role decarbonizing other sectors by optimizing existing processes and enabling entirely new, more energy-efficient processes. For example, 5G and Smart Grid technologies can be used to better calculate production and consumption of electricity and increase energy efficiency of major emitting sectors.

ICT growth powered by Fossil Fuels

05

Race to 100% Renewable Energy by corporations

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Race to 100% Renewable Energy by corporations The good news is that leading US-based technology companies including Google, Apple and Microsoft are leading the way in decoupling their growth from increased emissions by powering their global operations based on a 100% renewable energy pledge. Some are successfully meeting their goals within timeframes that are much earlier than the timeframe for climate change mitigation goals set forth by the Paris Agreement.

Apple and Facebook have recently also set 100% renewable energy targets for their manufacturing supply chains which is critical. According to CDP, for an average company, emissions from the supply chain are usually 5.5 times higher than its own50. Apple has calculated its’ manufacturing operation to be responsible for over 70% of its total emissions, so it’s commitment to transition its entire manufacturing supply chain to 100% renewable energy sources by 2030 is significant51. Over 110 Apple suppliers have already signed up to source 100% renewable energy and Apple’s target by year 2030 continues to place pressure on the rest of suppliers to comply52. In 2020, one week after Apple made the pledge, Taiwan-based semiconductor foundry company, Apple supplier and Samsung competitor, TSMC, announced its intention to join the global RE100 campaign53. In addition, Apple is backing up its commitment by offering suppliers incentives in markets where sourcing renewable energy has been traditionally difficult. For example, it has set up the ‘China Clean Energy Fund’ to connect suppliers with renewable electricity sources. The fund, which will include nearly USD300 million with contributions from 10 primary suppliers and Apple, will invest in and develop clean energy projects capable of generating more than 1 gigawatt of renewable electricity thereby enabling suppliers to meet their renewable electricity commitments54.

Race to 100% renewable energy by Corporations

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OCT

MAY Apple

Microsofot

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2011 DEC Facebook

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2013 FEB

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2015 MAR Equinix

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DEC Fig. 8 Timeline of 100% renewable energy commitments by tech companies

Over 300 multinational corporations from around the world including Apple, Google, IKEA, General Motors, BMW Group and Goldman Sachs have also signed up to the global RE100 campaign55 with 75% of members pledging for more ambitious 100% renewable energy target for their global operations by 2030 in demonstration of ‘strong’ climate leadership56. An increasing number of Asia-based tech companies are also starting to commit to renewable energy goals, which is vital given that Asia accounts for almost half of the world’s electricity use57 and Asia-based tech companies such as Tencent, Alibaba Group, Samsung and TSMC have become a staple in rankings of the world’s ten biggest tech companies list. In fact, in 2020, 42% of new members joining the RE100 campaign hailed from the Asia- Pacific region58, including six subsidiaries from the Korean conglomerate SK Group59, LG Energy Solution60 and Korea’s largest cosmestics company, AmorePacific61. In particular, AmorePacific, LG Energy Solution and SK Holdings, one of the SK Group subsidiaries – made pledges to aim for the more ambitious renewable energy target by 2030.

Race to 100% renewable energy by Corporations

Adobe

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Iron Mountain Samsung

MAR HP

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2016 SEP vmware

Intel

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DEC Chindata

After pledging 100% renewable energy commitments, companies leading the fight against the climate crisis have begun to shift away from simply purchasing untraceable, unbundled Renewable Energy Certificate (RECs) to meet their renewable energy goals by opting for more impactful options that meet the fundamental procurement principles of ‘local’, ‘additional’ and ‘advocacy’* guidelines. This is especially important because the impact of purchasing unbundled RECs in relation to increasing renewable energy sourcing in the electricity market or ‘additionality’ is very limited and therefore less effective in mitigating climate impacts62.

Furthermore, corporations tend to handle REC purchases as expenditure rather than investment as part of a long-term “strategy” to tackle the climate crisis. For this reason, such initiatives have a high risk of being terminated when corporations attempt to cut their “expenses”.

Race to 100% renewable energy by Corporations

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*Explainer: Fundamental procurement principles Local: Renewable energy supply is located on the same grid as the company’s electricity demand, taking responsibility for the additional electricity demand its growth is creating, and displacing dirty energy generation with renewable sources of electricity generation.

E.g Facebook’s 63 renewable energy projects are new and located on the same electrical grids at the data centers they support.

Additional: Renewable energy is new and “additional,” going beyond what would have occurred with existing national or state policy targets or mandatory requirements for utilities to increase renewable energy production. E.g in September 2019, Apple’s first investment from the China Clean Energy Fund was the construction of two 48-megawatt wind farms in Hunan province and a 38-megawatt wind farm in Hubei province thereby displacing fossil fuel capacity in the region Advocacy: The company advocates for change with energy utilities, regulators or elected officials, pushing for policies to increase the supply of renewable energy on the grid in locations where the company has operations and major suppliers. E.g companies signed up to the RE100 campaign in Japan have recently written a joint letter to the Japanese govt pushing it to improve renewable targets and commitments to 2030.

Fig. 9 Explainer: Fundamental procurement principles guidelines63

**Explainer: Corporate Power Purchase Agreements (PPAs) A Corporate Power Purchase Agreement (PPA) is a long-term contract under which a business agrees to purchase electricity directly from an energy generator. This differs from the traditional approach of simply buying electricity from licensed electricity suppliers, often known as utility PPAs. Such structured agreements provide financial certainty for the utility companies and the developers, which removes a significant roadblock to financing and building new renewable facilities; PPAs are therefore helping to deliver more renewable energy on the grid.

Fig. 10 Explainer: Corporate PPAs64

Race to 100% renewable energy by Corporations

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Direct investment in renewable energy projects and corporate power purchase agreements (PPAs)** are currently the most impactful ways to achieve renewable energy targets as they are linked to specific projects and companies can be assured that local and additional renewable energy capacity is added to the grid and permanently displaces fossil fuels. For example, to date, Amazon has 206 renewable energy projects globally, including 71 utility-scale wind and solar projects and 135 solar rooftops on facilities and stores worldwide, which will generate 8.5 GW of electricity production capacity globally, including a 100MW solar project in Shandong Province, China. These projects will put Amazon on a path to power 100% of its activities with renewable energy by 2025 — five years ahead of the original target of 203065. Also in China, Chindata Group has pledged to achieve carbon neutrality by 2030 for its operation (including scope 1 and 2 emissions)66. According to the roadmap, all of its next-generation hyperscale data centers in China will meet 100% renewable energy target by 2030. It will also directly invest in at least 2GW of clean energy projects and, as of December 2020, 1.3 GW wind and solar energy development contracts had already been signed67. Furthermore, 2019 was a record-breaking year for corporate PPAs with 19.5GW of renewable energy purchased by corporations, which was a threefold increase from 201768. Google, Facebook, Amazon and Microsoft were among the top purchasers for the year, and the ICT sector is now responsible for almost half of all corporate renewable procurement agreements69, using the program to hedge against price volatility, reduce environmental impact and improve brand reputation70. In 2020, corporations in Asia Pacific purchased record clean energy volumes71.

Fig. 11 Tech Groups as Renewable Energy Buyers

Race to 100% renewable energy by Corporations

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These actions have also contributed to the decrease of renewable energy costs, which has fallen dramatically in the last ten years making solar and wind power quickly become the cheapest form of electricity72.

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Fig. 12 Falling Cost of Solar Power

Race to 100% renewable energy by Corporations

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In markets where renewable energy is difficult to source, advocacy by big corporations to promote introduction of RE-friendly policy mechanisms and investment in renewable energy capacity can also be impactful in removing market barriers. For example, in March 2021, all Japan-based members of the RE100 campaign joined together to call on the Japanese government to increase its renewable energy targets73.

The ‘Race to 100’ coupled with a shift towards choosing the most impactful renewable energy sourcing options and advocacy to push for RE-friendly policies by corporations responsible for some of the largest and growing carbon footprints on the planet comes at a critical moment as the world attempts to recover from a global pandemic whilst dealing with the worst impacts of a climate emergency and can help put the world on a path to recovery led by renewable energy. If Samsung wishes to remain a leader in combating climate change beyond 2020, it will need to commit to achieving 100% renewable energy for its entire global operations and set goals and incentives for its suppliers within similarly ambitious timeframes. To do so, Samsung should consistently opt for the most impactful renewable energy sourcing options to achieve its renewable energy targets and especially for its major manufacturing hubs in Korea and Vietnam.

Race to 100% renewable energy by Corporations

06

Recoveries in Korea & Vietnam led by Renewables?

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Recoveries in Korea & Vietnam led by renewables?

South Korea South Korea is the 7th largest emitter of CO2 in the world from fossil fuel combustion74. The share of renewables including hydro in theTotal Primary Energy Supply (TPES) is around 4%75. Korea also has a high degree of energy insecurity as it relies on imported sources to generate 93.5% of its TPES76. Industry is its major energy consumer at 55%, which is the highest proportion among all IEA member countries and signals the important role Korea’s industry sector has in the energy transition initiative77. Industry is also responsible for 53% of Korea’s final electricity consumption78. However, access to and investment in renewable energy has traditionally been constrained with the electricity market tightly controlled by the government via government-invested electric utility company, KEPCO. Despite introducing an emissions trading scheme in 2015, its impact has been limited as 90% of certificates were provided for free. By 2019, it was credited with reducing emissions only by 2% across all sectors79. Industrial consumers of electricity have thus to date been relegated to self-generation through on-site solar, wind or geothermal power generation facilities as the only option to increase their renewable energy sourcing.

Fig. 13 Korea’s Energy Mix80

Recoveries in Korea & Vietnam Led by Renewables?

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While Korea’s updated Nationally Determined Contribution (NDC) target of 24.4% - lower than 2017 levels - by 2030 is criticized as ‘highly insufficient’ and ‘not at all consistent with holding warming to 2 degrees, let alone with the Paris Agreement’s stronger 1.5 degree limit’81, the government has continued taking steps to accelerate a much-needed energy transition. In its 3rd Energy Master Plan, the Korean government has confirmed the plan to phase out nuclear power generation as well as coal-fired power plant operation82. In reality, this means that Korea will run the last coal-fired power plant by 2054 while it will run a nuclear power plant by 2085. In 2020, the government also announced its post-COVID-19 recovery plan including a ‘Green New Deal’ that highlights renewable energy. According to the plan, Korea is committing to increase the share of renewable energy for electricity generation to 20% by 2030 and 30-35% by 2040. In addition, the Korean government also pledges to facilitate decarbonization of the industry sector by converting energy sources used for government-managed industrial complexes with renewable energy83. In October 2020, President Moon Jae In further announced Korea’s vow to achieve carbon neutrality by 2050 in line with the Paris Agreement mitigation goals, which follows commitments made by China and Japan84.

Although Korea is still moving forward with new coal-fired power plant projects, has yet to develop a detailed coal phase-out roadmap or commit to a required coal-fired power generation phase out by 202985, there are some signs that the energy transition is underway in an early stage as we see more reports of government plans for large-scale investment in wind and solar farms86 and by foreign investors87. In March 2021, Greenpeace also welcomed the passing of an amendment to the Electricity Business Act by the National Assembly that is designed to allow renewable energy suppliers to directly sign Power Purchase Agreement (PPA) contracts with electricity consumers, including corporations88. This is a huge step forward as it opens up the market to large-volume transaction of renewable energy sources and further allows corporations with environmental commitments to participate in the RE100 campaign through impactful renewable energy sourcing.

Also in 2021, a “green pricing” scheme and RECs-trading platform have been introduced as part of the K-RE100 initiative leading to an expansion in the range of options for commercial consumers of electricity in Korea in a matter of months89. More regulatory and institutional barriers need to be urgently removed to accelerate renewable energy deployment and uptake but Korea has taken steps in the right direction towards reinventing its energy market with greater flexibility that can capitalize on Korea’s advanced technologies and innovation capacity90.

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Fig. 14 RE Barriers and Opportunities In Korea

Vietnam

Vietnam‘s dramatic economic growth since 2000 has been largely propelled by robust domestic demand and export-oriented manufacturing91 and in 2019, Vietnam’s GDP increased by 7%, which is one of the fastest growth rates in South-East Asia. This extraordinary growth since 2000 has been followed by an equally extraordinary increase in electricity consumption at an average of 13% annually and mainly led by increased demand from the C&I sector which now accounts for over half of the country’s entire electricity consumption of 227TWh92. Vietnam is now the second largest consumer of electricity in South-East Asia and electricity use is expected to increase by an average of 10% annually through 203093. To meet this steep increase in demand, Vietnam has not only turned from a net coal exporter to an importer in 5 years but currently has the largest capacity of coal pipeline in South-East Asia with 15 coal-fired power plants with a capacity of almost 18GW planned by 202494. In 2018, coal, petroleum, natural gas and hydro made up over 90% of Vietnam’s energy source mix with other sources (including diesel, small hydropower and renewables) accounting for the remaining 7%. Three companies - EVN, PVN and Vinacomin - are responsible for 75% of electricity generation, but the electricity market is regulated by EVN, state-owned electric utility company, and its subsidiaries95.

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Fig. 15 Vietnam’s Energy Mix96

While Vietnam’s updated NDC target of 9% - below 2014 levels - by 2030 (and an additional 27% with international aid) is still rated as ‘critically insufficient’97, recent policy changes are helping to set more aggressive climate change mitigation targets to respond to the call for further emissions reductions as a country that ranks 9th in the world among countries most vulnerable to climate change,98 to improve energy security as well as to enable Vietnam to realize its huge potential to become a regional leader in solar and wind99 power generation, especially at a time when these two energy sources have become the cheapest forms of energy in Vietnam100. The government has therefore been actively restructuring the electricity market through electricity-applicable laws and regulations to promote competition from alternative technologies and renewables and private sector investment. The National Energy Development Strategy to 2030 with a vision to 2045 (or resolution 55) states the government’s intention to develop “breakthrough mechanisms and policies” for scaling renewable energy throughout the country101. By 2019, Vietnam had already added 4.5 GW of solar power generation thereby meeting its 2025 solar target early. With the introduction in April 2020 of a generously priced feed in tariff (FiT), an extra capacity of 9.3GW was secured by December 2020 when the scheme was scheduled to end. The figure is equivalent to power generated by 6 coal-fired power plants or a 25-fold increase in the nation’s solar power generation capacity in a year and accounts for 67% of new rooftop solar panels installed on C&I facilities. Today, according to EVN, a total of 16.5GW is now generated by a combination of ground-mounted, floating and rooftop solar facilities, which is enough to meet almost a quarter of Vietnam’s total electricity consumption of 48GW102.

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Fig. 16 Vietnam’s Rooftop Solar Capacity Growth 2019-2020

In 2021, Vietnam will transition its successful solar FiT to solar auctions including 29 solar projects with a capacity of 1.6 GW that are likely to be approved for the pilot transition program in addition to the possibility of additional 103 solar projects with an added capacity of 10 GW103. Similarly, Vietnam’s wind FiT has been extended to include projects completed by November 2021 resulting in a total of 11.8GW of confirmed wind projects with a further 6.6GW likely to be confirmed soon104. The wind FiT will also likely be extended through to 2023, although it will probably be replaced by wind auctions after 2023 ‘in line with international trends’ as stated by the government105. At the time this report was drafted, Vietnam is also on the cusp of introducing a pilot program for off-site direct power PPAs, which would enable industrial electricity consumers to access high-volume renewable energy facilities to help them meet their national and international renewable energy goals. In fact, the eligibility criteria for corporate off-takers states; “Priority [is] given to industrial manufacturers with international commitments toward implementing targets on the environment, climate change mitigation and sustainable development.” Once launched, companies will have a period of 270 days to complete their application and, based on the expected demand, it will likely be on a first-come, first-served basis106.

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Whole market spot

GENCO/Project Company

Corporate Power Consumer

RECs Fixed price (electricity & RECs) for PPA output

Electricity (PPA output)

Wholesale market spot price VIRTUAL PPA Contract for differences (CfD)

Power Supply agreement

Power Purchase agreement

Electricity

$ Fixed price x load

EVN/Vietnam Wholesale Electricity (Pool) Marketing

Electricity

Electric Utility (EVN Power Corporation)

Wholesale spot price and market changes

Fig. 17 Vietnam’s proposed Corporate PPA structure for solar and wind plants107 Although reception for Resolution 55 intended to form a part of Vietnam’s much- anticipated draft Power Development Plan (PDP8) has been lukewarm as it still leans towards the development of coal-fired power generation and proposes scaling up of natural gas importing, it does contain an improved renewable energy target of approx. 30% by 2030108. Since renewables have tended to over-deliver in Vietnam so far and became proven technologies with far fewer associated risks and costs than other dirtier sources of energy, the next 2 years will be pivotal for the acceleration of the energy transition in Vietnam and especially for industrial consumers of electricity. It will also be critically important for those companies with a significant manufacturing footprint in Vietnam to continue to advocate for increased renewables as did Nike and H&M in December 2020109.

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Fig. 18 RE Barriers & Opportunities in Vietnam

Samsung has previously cited lack of renewable energy infrastructure and market barriers as reasons for not including its key manufacturing hubs in Korea and Vietnam in its 2018 commitment. Since 2018, there have been significant policy changes and a gradual removal of institutional barriers in both markets making sourcing renewable energy to achieve 100% renewable energy goals for global corporations increasingly feasible. As Samsung’s 2020 pledge comes to a close, 2021 marks another important year to monitor Samsung’s willingness to assume its climate change mitigation responsibility by taking advantage of RE-friendly policy mechanisms in its major manufacturing markets.

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Checking in with Samsung’s 100% Renewable Energy Pledge

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Samsung Electronics’ Roadmap To 100% Renewable Energy

Checking in with Samsung’s 100% Renewable Energy Pledge In March 2021, Samsung announced that they had met their 100% renewable energy goal in the US, China and Europe by employing a wide range of initiatives including purchasing RECs, green pricing, power purchase agreements and on-site installation and further stated that they will “continue to monitor the ongoing climate change situation and pursue energy-efficient products and manufacturing processes in order to reduce greenhouse gas emissions and promote the usage of renewable energies”110. It is a significant achievement as Samsung’s total renewable energy sourcing will have increased by 61% since 2017 in these three markets from 39% to 100%. Meeting the target is motivating not only for Samsung but also for other large corporations and shows the importance of setting near-term goals.

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2017 2019

92% Achieved

229GWh

2018

1,356GWh

2019

3,220GWh

100% 2020

Fig 19 Trend of Renewable Energy Consumption by Samsung to 2019111

However, it is necessary to further examine the facts to ascertain if Samsung has made the right choices for the climate by exercising the most impactful renewable energy sourcing options that contributed to an increase of local and additional capacity in these markets. Samsung’s progress towards targets in Korea and with suppliers must also be reviewed and, most importantly, the impact of its actions on expanding renewable energy in Samsung’s overall energy mix. Below is a breakdown of Samsung’s 2018 pledge split into its main goal areas. To compile the below data analysis, we submitted a request for related data directly to Samsung in an attempt to ensure accuracy and credibility. Where data was not provided, we have also sought alternative sources of information where possible and/or made assumptions based on recent data trends.

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RE-friendly options employed

PARTIAL

2018

2019

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2020 ­

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PARTIAL

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COMPLETE

2018

2019 ­

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2020

­ 2021 ­ ­

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PARTIAL

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Fig. 20 Data showing Samsung’s reported progress towards their 2018 100% renewable energy pledge

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US, China & Europe Samsung has taken significant action to source 100% renewable energy at all of its sites in the US, China and Europe from 2018 to 2020 which has led to a 61% increase in the use of electricity from renewable sources in these markets from 39% in 2018 to 100% in 2020. In 2020, renewable energy accounted for 17.6% of Samsung’s overall energy mix and its scope 2 emissions – that account for purchased electricity - decreased by almost 15% leading to 2280 C02 te of avoided emissions in these markets in 2018112 and this is despite Samsung’s electricity use rising globally during this same time period. Emissions from these markets have shrunk from 18% of Samsung’s total emissions profile in 2018 to 9% in 2019 and Samsung has also made some progress sourcing renewable energy in other markets in which it operates.

Fig. 21 Samsung Electronics Global Electricity Use, GHG, CO2 and scope 2 emissions 2017-2020 2020 data for Samsung’s global CO2 emissions was not provided prior to publication and has been estimated based on Samsung’s rising trend in electricity use and scope 2 emissions between 2017-2020

Meeting the target within such a short time frame in these markets shows the importance of setting aggressive targets that may seem ambitious and demonstrates how a company can start to effectively decarbonize by rapidly shifting to renewable sources of electricity. However, we have marked this goal as ‘partial’ because less impactful ‘unbundled RECs’ accounted for approx. 66% of purchased renewable energy across all these markets in 2019113. Also, unbundled RECs and green pricing together represent 88% of purchased renewable energy in the same time period.

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Fig. 22 Breakdown of MWh consumed per RE-friendly option for each Samsung market in 2019114 Dirtier fossil fuel sources also still make up 82% of Samsung’s total energy consumption and Samsung’s electricity use and GHG emissions continue to rise globally. We were not provided with Samsung Electronics’ 2020 data for CO2 emissions prior to publication but based on the rising trend in global electricity use and scope 2 emissions between 2017-2020, coupled with the expiry of Samsung’s renewable energy pledge, we have assumed that they increased and primarily due to rising electricity use and associated scope 2 emissions at Samsung’s key production sites in Korea. Currently, Korea and South East Asia – including Vietnam - are Samsung’s two highest emitting markets yet have the lowest proportion of purchased and consumed low carbon energy compared to their total energy use116.

12% 22%

Unbundled RECs

66% Green pricing

PPAs/on site

Fig 23. Breakdown of MWh consumed per RE-friendly option for each Samsung market in 2019115

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17.6% 82.4% Renewable Energy

Other fuel sources

Fig. 24 Proportion of renewable energy in Samsung’s overall energy mix

Fig. 25 Samsung’s Scope 2 emissions by market in KtCO2e 2017-2020 2020 figures were only provided for Korea

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Fig. 26 Purchased and consumed MWh total energy vs low carbon energy by Samsung Markets in 2019117 Checking in with Samsung’s 100% renewables energy pledge

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Korea Installation of solar panels and geothermal power generation facilities at Samsung’s Suwon, Pyeongtaek & Giheung campuses have added 3.8MW and ‘200RT capa.’ respectively in 2019, with avoided emissions of 8KtCO2e combined. In 2019, solar and geothermal power generation facilities accounted for 47300MWh of energy purchased and consumed from low carbon sources in Korea118. Samsung has also confirmed participation in KEPCO’s green pricing scheme in 2021, purchased RECs and has joined several carbon neutral industry advocacy bodies. We marked this goal as complete due to the addition of renewable energy installations as pledged, however, these installations only generate a tiny fraction of Samsung’s total electricity use in Korea and it is not yet clear what proportion of Samsung’s electricity use will be covered

by RECs and green pricing and/or if more impactful options such as PPAs and direct investment are being considered. Samsung has seven production sites in Korea and from 2017-2020, Samsung’s total electricity use in Korea rose year on year alongside its scope 2 emissions with the company consuming 17TWh of electricity in 2020 which represents 71% of Samsung’s total power consumption of 24TWh. Continued expansion of new facilities in Pyeongtaek and in South Carolina plus increased output volumes from China and Korean sites including Cheonan, Giheung, Hwaseong and Onyang contributed to an extra 774,000C02te increase in emissions in 2018119. In 2020, Samsung also invested KRW 38.5 trillion in new and expanded facilities including the semiconductor and display businesses and there are plans to further expand facilities into 2021120.

Fig. 27 Solar panels at parking lots in Samsung Campuses in Suwon and Giheung, Korea121 (Source: Samsung Electronics’ Newsroom)

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PYEONGTAEK

HWASEONG

SUWON

GIHEUNG

ONYANG

GUMI

GWANGJU

Fig. 28 Location of Samsung Electronic’s production sites in South Korea

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Fig. 29 Samsung Electronic’s electricity use, GHG & Scope 2 emissions in Korea 2017-2020

29.2%

Korea

70.8%

All other Samsung Markets

Fig. 30 Samsung Electronics 2020 electricity use in Korea vs all other Samsung markets.

Vietnam Samsung operates multiple manufacturing sites in Vietnam in Bac Ninh, Thai Nguyen, Hanoi and Ho Chi Minh City, including Samsung’s two largest smartphone factories in the world and its largest home electronics factory in South-East Asia122. Initial steps have been taken to develop regional action plans and there has been some reduction in emissions since 2018 but no specific action to source renewable energy has been taken in Vietnam or in the wider region including Indonesia and Malaysia. Samsung did however confirm that it will participate in the indirect DPPA pilot program in Vietnam in 2021. In 2019, Vietnam and the wider South East Asia region was Samsung’s second highest consumer of energy – after Korea - yet was also its lowest purchaser and consumer of low carbon energy options – see fig. 26.

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45 Thái Nguyên

Bắc Ninh

HANOI

Ho Chi Minh

Fig. 31 Location of Samsung’s Manufacturing Sites in Vietnam

Suppliers Samsung joined the CDP supplier program in 2019 and carried out training on CDP submissions for 200 of its top suppliers responsible for 90% of its business transactions which is more than it had originally targeted in 2018. 115 of its suppliers or 59% have now voluntarily submitted CDP reports123 This is good progress but we have marked this goal as ‘partial’ as it is still unclear how many of these suppliers have set renewable energy targets and/or have actually increased their consumption of renewable energy which is local and additional in the markets in which they operate. Nor is it clear which ones have advocated for increased renewable energy where they have economic influence.

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46 Whilst Samsung’s scope 2 emissions have decreased between 2018- 2019 due to increased uptake in renewable energy in some markets and also possibly due to the COVID-19 pandemic, they are now rising again and Samsung’s scope 3 emissions - mainly accounting for suppliers and logistics - have also maintained an upward trend between 2017-2019. In 2020, there has been a dip in scope 3 emissions likely due to energy efficiency initiatives and the impact of the COVID-19 pandemic. 2021 will therefore be a critical year to ensure that a rebounding economy and planned for expansions in production capacity and outputs does not reverse these gains.

Fig. 32 Samsung Electronics Scope 3 emissions breakdown 2017-2020124

Fig. 33 Samsung’s Scope 3 emissions 2017-2020125 Checking in with Samsung’s 100% renewables energy pledge

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Path To Climate Change Mitigation Leadership

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Path To Climate Change Mitigation Leadership To solidify its trajectory towards climate change mitigation leadership in 2021, Samsung should implement the following actions without delay:

1 2 3 4

Extend its 100% renewable energy commitment beyond 2020 to make it applicable to its global operations and within aggressive timeframes leading to the transitioning to renewable energy sourcing at its major production sites in Korea and Vietnam. Samsung’s commitment to 100% renewable energy must also apply to any and all future or planned for expansion of production capacity and outputs.

Set an aggressive 100% renewable energy goal for its manufacturing supply chain; offer financial incentives to suppliers to facilitate the transition including financial aid for renewable energy projects close to factories and establish 100% renewable energy criteria to give preference to new and existing suppliers that are pursuing 100% renewable energy within ambitious timeframes.

Choose impactful renewable energy sourcing options such as PPAs and direct investment that are in compliance with the fundamental procurement principles of local, additional and advocacy. Implement more impactful options in the US, China and Europe.

Advocate for improved RE-friendly policy mechanisms and investment projects with governments, utility companies, other corporations and Samsung-affiliated companies.

We have also prepared a roadmap identifying priority actions for Samsung in 2021 to support implementation of the above actions set against the criteria of transparency, commitment, performance and advocacy. We are also presenting an alternative list of actions that could lead Samsung on a path towards becoming a climate laggard so that we can monitor Samsung’s progress for the next two years.

Path to Climate Mitigation Leadership

COMMITMENT

TRANSPARENCY

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Climate Change Mitigation Leader

Climate Change Mitigation Laggard

Climate Mitigatio

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Climate Change Mitigation Leader

Climate Change Mitigation Laggard

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Climate Mitigatio

Path to Climate Mitigation Leadership

Climate Change Mitigation Leader

Climate Change Mitigation Laggard

PERFORMANCE

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Climate Change Mitigation Leader

Climate Change Mitigation Laggard

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ADVOCACY

50

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Path to Climate Mitigation Leadership

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Governments around the world are on the cusp of submitting updated NDCs to the UN Framework Convention on Climate Change (UNFCCC) at a time when carbon in the atmosphere has spiked to its highest level since pre-industrial times. Large, influential corporations such as Samsung, have a unique, once-in-a-generation opportunity to position themselves as strong leaders in the fight against climate change by setting ambitious, near-term and science-based goals in line with the Paris Agreement mitigation goals and pushing for even more ambitious national commitments and RE-friendly policies and mechanisms that build RE capacity in places where they have economic influence. As the world continues the downward spiral of worsening impacts of climate change, Samsung, along with other leading technology companies, has been given unique roles and opportunities to lead the fight against climate change by decarbonizing the way it does business. While corporations are racing towards meeting 100% renewable energy goals, electricity markets in Korea and Vietnam are restructuring to become more flexible to better facilitate the energy transition. As a for-profit corporation, Samsung’s ultimate goal is to do its business in a profitable way, but, in 2021, it now has an added responsibility to set and implement ambitious new renewable energy sourcing targets as a business leader at a time that is critical for fighting climate change.

Path to Climate Mitigation Leadership

Samsung will have to pick a side when it comes to the fight against climate change.

We will see if Samsung chooses to stand with other leaders in 2021.

Greenpeace is an independent global campaining organisation that acts to change attitudes and behaviour, to protect and conserve the environment and to promote peace

Published in June 2021

by Greenpeace East Asia Seoul 6F, Cheongryong BLDG, Hangangdaero 257 Seoul, South Korea

greenpeace.org/korea

Endnotes 1. Greenpeace USA. Guide To Greener Electronics 2017 . https://www. greenpeace.org/usa/reports/greener-electronics-2017/. Accessed 10–10 Feb. 2021 2. Greenpeace International. Global Protests Push Samsung To Commit To 100% Renewable Energy. https://www.greenpeace.org/ international/press-release/17134/global-protests-push-samsung-tocommit-to-100-renewable-energy-greenpeace/. Accessed 10 Feb. 2021.

3. Samsung Electronics. Samsung Electronics To Expand Use Of Renewable Energy. https://news.samsung.com/global/samsungelectronics-to-expand-use-of-renewable-energy. Accessed 31 Mar. 2021.

4. Greenpeace International. Global Protests Push Samsung To Commit To 100% Renewable Energy. https://www.greenpeace.org/ international/press-release/17134/global-protests-push-samsung-tocommit-to-100-renewable-energy-greenpeace/. Accessed 10 Feb. 2021.

5. Greenpeace Korea. Doing Bigger Things P5. https://www. greenpeace.org/static/planet4-korea-stateless/2019/10/969ce18dsamsungdobiggerthings_eng.pdf.

6. Samsung Electronics. Samsung Electronics To Expand Use Of Renewable Energy. https://news.samsung.com/global/samsungelectronics-to-expand-use-of-renewable-energy. Accessed 31 Mar. 2021.

7. Samsung Electronics. Sustainable Practices: Samsung’s Eco-Friendly Efforts Towards A Better Tomorrow. https://news.samsung.com/ global/sustainable-practices-samsungs-eco-friendly-efforts-towards-abetter-tomorrow. Accessed 6 Apr. 2021.

8. Samsung Electronics. Samsung Electronics Releases 2020 Sustainability Report P6. https://news.samsung.com/global/samsungelectronics-releases-2020-sustainability-report.

9. IDC Samsung Reclaims The Top Spot. “Samsung Reclaims The Top Spot As Smartphone Market Performs Better Than Expected With 353.6 Million Device Shipments In 3Q20, According To IDC.” https://www.idc. com/getdoc.jsp?containerId=prUS46974920. Accessed 12 Mar. 2021.

10. Statista. Samsung Revenue By Segment . https://www. statista.com/statistics/630434/samsung-quarterly-revenueby-segment/#:~:text=As%20of%20the%20fourth%20 quarter,contributed%20significantly%20to%20total%20revenue.

Accessed 10 Apr. 2021.

11. The Economist. Why Samsung Of South Korea Is The Biggest Firm In Vietnam. https://www.economist.com/asia/2018/04/12/why-samsungof-south-korea-is-the-biggest-firm-in-vietnam. Accessed 6 Apr. 2021.

12. DART. Samsung Business Report 2021 p.76. https://englishdart.fss. or.kr/ Accessed 28th Apr 2021.

13. Samsung Electronics. Samsung Electronics Q4 And FY 2020 Results. https://news.samsung.com/global/samsung-electronicsannounces-fourth-quarter-and-fy-2020-results#:~:text=Samsung%20 Electronics%20today%20reported%20financial,quarter%20 ended%20December%2031%2C%202020. Accessed 10–10 Mar. 2021.

14. Korea JoonGang Daily. Samsung Electronics Earnings Report 2020. https://koreajoongangdaily.joins.com/2021/01/08/business/industry/ samsung-electronics-earnings-report-2020/20210108160600597.html.

Accessed 5 Apr. 2021.

15. Bloomberg .Korea’s Economic Recovery Owes Debt To Lee Kun Hee’s Tech Focus. https://www.bloomberg.com/news/articles/2020-10-27/ korea-s-economic-recovery-owes-debt-to-lee-kun-hee-s-tech-focus.

Accessed 5–5 Mar. 2021.

16. The Korea Herald. Samsung Electronics Accounts For 20% Of S. Korea’s Exports In H1. http://www.koreaherald.com/view. php?ud=20190818000029. Accessed 5 Apr. 2021.

17. The Korea Times. Exports Recovery extended to 7th month in May on rebounding global economy. https://www.koreatimes.co.kr/www/ biz/2021/06/488_309737.html?fa&fbclid=IwAR2Wv4kwYCTNASF0DFFB 2IFvJTSmt-YrQHPMYa3XB-Id2K5JrmfjWwC0iRo. Accessed 1 Jun 2021.

18. Samsung Electronics. About Samsung. https://www.samsung.com/ sec/aboutsamsung/company/executives/ceo/. Accessed 5 Apr. 2021.

Samsung Electronics. FAST-FACTS. https://news.samsung.com/global/ fast-facts. Accessed 10 Mar. 2021.

19. Samsung Electronics. Samsung Electronics Sustainability Report 2020 P5. https://images.samsung.com/is/content/samsung/p5/uk/ aboutsamsung/pdf/Sustainability_report_2020_en_F.pdf. Accessed 10 Feb 2021.

20. DART. Samsung Business Report 2021 p.76. https://englishdart.fss. or.kr/ Accessed 28th Apr 2021.

21. Ibid.

22. Pulse News. Samsung Group’s Market Cap Hits $600 Bn Milestone. https://pulsenews.co.kr/view.php?year=2020&no=1325026. Accessed 5 Apr. 2021.

23. Samsung Electronics. Samsung Electronics Q3 Interim Business Report P168. https://images.samsung.com/is/content/samsung/p5/ global/ir/docs/2020_business_quarter03.pdf.

24. The Economist. Samsung After Lee Kun-Hee. 31 Oct. 2020 https:// www.economist.com/business/2020/10/31/samsung-after-lee-kunhee.

25. The Korea Times .Samsung Facing Changes In Governance Structure. https://www.koreatimes.co.kr/www/tech/2020/12/129_295296.html.

26. Global Construction Review .Samsung Admits Brand Damage Building Coal Plant. https://www.globalconstructionreview.com/news/ samsung-admits-brand-damage-building-coal-plant-wo/. Accessed Mar 2021.

27. The Korea Times. “Samsung’s Financial Affiliates Declare End to Coal Investments.” https://www.koreatimes.co.kr/www/ biz/2021/02/367_299212.html. Accessed Apr 2021 28. Climate Analytics. South Korea Must Exit Coal By 2029 To Be In Line With The Paris Agreement. https://climateanalytics.org/latest/southkorea-must-exit-coal-by-2029-to-be-in-line-with-the-paris-agreement/.

Accessed 6 Apr. 2021.

29. The Korea Times. “Samsung’s Financial Affiliates Declare End to Coal Investments.” https://www.koreatimes.co.kr/www/ biz/2021/02/367_299212.html. Accessed Apr 2021 30. Samsung Electronics. Samsung Electronics To Expand Use Of Renewable Energy. https://news.samsung.com/global/samsungelectronics-to-expand-use-of-renewable-energy. Accessed 31 Mar. 2021 31. World Bank. Information And Communication Technologies: Results Profile. https://www.worldbank.org/en/results/2013/04/13/ict-results-profile.

Accessed 5 Apr. 2021.

32. The Economist. “World’s Most Valuable Resource Is No Longer Oil But Data.” , https://www.economist.com/leaders/2017/05/06/the-worlds-mostvaluable-resource-is-no-longer-oil-but-data. Accessed 5 Apr. 2021.

33. FSXXI. Top Ten Biggest Tech Companies. https://fxssi.com/most-valuabletech-companies Accessed 27 Apr 2021 34. IDC . “Global ICT Spending, https://www.idc.com/promo/global-ictspending/forecast. Accessed 10–10 Mar. 2021.

35. Enerdata. Between 10 and 20% of Electricity Consumption from the ICT* Sector in 2030? https://www.enerdata.net/publications/executive-briefing/ between-10-and-20-electricity-consumption-ict-sector-2030.html. Accessed 4 Mar 2021 36. Andrae. On Global Usage Of Electricity P138. https://www.mdpi.com/20781547/6/1/117. Accessed 5 Mar. 2021.

37. IEA. “Digitalization & Energy Analysis.”, https://www.iea.org/reports/ digitalisation-and-energy. Accessed 5 Apr. 2021.

38. Enerdata. Between 10 and 20% of Electricity Consumption from the ICT* Sector in 2030? https://www.enerdata.net/publications/executivebriefing/between-10-and-20-electricity-consumption-ict-sector-2030. html. Accessed 4 Mar 2021.

39. Andrae. On Global Usage Of Electricity P135. https://www.mdpi.com/20781547/6/1/117. Accessed 5 Mar. 2021.

40. Apple. Apple Environmental Report 2020. P.12 https://www.apple.com/ environment/pdf/Apple_Environmental_Progress_Report_2020.pdf.

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62. Berners Lee & Freiberg. The Climate Impact of ICT: A Review of Estimates, Trends and Regulations. P.86 https://arxiv.org/ftp/arxiv/ papers/2102/2102.02622.pdf. Accessed 28 Apr 2021

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69. FT. How Tech Went Big On Green Energy. 10 Feb. 2021, https://www. ft.com/content/0c69d4a4-2626-418d-813c-7337b8d5110d. Accessed 6 Mar 2021

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70. IEA. Data Centres And Data Transmission Networks – Analysis. https:// www.iea.org/reports/data-centres-and-data-transmission-networks.

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71. BNEF. Corporate Clean Energy Buying Grew 20% in 2020 Despite Mountain of Adversity. https://about.bnef.com/blog/corporateclean-energy-buying-grew-18-in-2020-despite-mountain-ofadversity/#:~:text=Companies%20announced%2011.9GW%20 of,on%2Dyear%20drop%20since%202016.&text=Corporate%20 PPA%20volumes%20in%20the,record%207.2GW%20in%202020.

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50. CDP. Supply Chain - CDP. https://www.cdp.net/en/supply-chain.

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51. Apple. Apple Environmental Report 2021. P.12 https://www.apple. com/environment/pdf/Apple_Environmental_Progress_Report_2021. pdf. Accessed 1 May 2021 / Environmental Leader. Facebook hits 100% renewable energy target, https://www.environmentalleader. com/2021/04/facebook-hits-100-renewable-energy-target/Accessed 28th April 2021.

52. Apple. “Apple Powers Ahead In New Renewable Energy Solutions With Over 110 Suppliers.” Apple Newsroom, https://www.apple.com/ newsroom/2021/03/apple-powers-ahead-in-new-renewable-energysolutions-with-over-110-suppliers/. Accessed 6 Apr. 2021.

53. The Korea Times. ‘RE100’ Emerges As New Risk For Korean Firms. https://www.koreatimes.co.kr/www/tech/2020/12/693_293855.html.

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55. RE100. RE100 Reaches 300-Member Milestone. https://www.there100. org/our-work/press/re100-reaches-300-member-milestone. Accessed 19 Apr. 2021.

56. RE100. Growing Renewable Power: Companies Seizing Leadership Opportunities . https://www.there100.org/growing-renewable-powercompanies-seizing-leadership-opportunities. Accessed 6 Mar 2021 57. Ibid.

58. Ibid.

59. RE100. South Korean Companies Join Global Race For Clean Energy. https://www.there100.org/our-work/press/south-korean-companiesjoin-global-race-clean-energy. Accessed 24 Mar 2021 60. The Korea Herald. LG Energy Solution Joins RE100, EV100 As Industry’s First. 16 Apr. 2021, http://www.koreaherald.com/view. php?ud=20210416000637. Accessed 28th Apr 2021 61. PRNewswire. Amorepacific Becomes The First Korean Beauty Company To Join RE100. https://www.prnewswire.com/news-releases/ amorepacific-becomes-the-first-korean-beauty-company-to-joinre100-301243612.html. Accessed 28 Apr 2021

72. IRENA. Renewable Power Generation Costs In 2019. https://www.irena. org/publications/2020/Jun/Renewable-Power-Costs-in-2019. Accessed 6 Mar 2021 73. RE100. Global Businesses Urge Japanese Government To Accelerate Renewable Energy Goals | RE100. https://www.there100.org/japanletter. Accessed 6 Apr. 2021.

74. IEA. CO2 emissions from fuel combustion overview. https://www.iea. org/reports/co2-emissions-from-fuel-combustion-overview. Accessed 20 May 2021.

75. IEA. Korea 2020 Analysis. https://www.iea.org/reports/korea-2020.

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76. EnergyInfoKorea 2020. p.6 https://www.kesis.net/sub/sub_0003.jsp.

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78. KEEI. Korea Energy Demand Outlook. http://www.keei.re.kr/keei/ download/outlook/OL2201e.pdf Accessed 4th May 2021.

79. IEA. Korea 2020 – Analysis - IEA. https://www.iea.org/reports/ korea-2020. Accessed 6 Apr. 2021.

80. Ibid.

81. Climate Action Tracker. South Korea. https://climateactiontracker.org/ countries/south-korea/. Accessed 6 Apr. 2021.

82. IEA. Korea 2020 – Analysis - IEA. https://www.iea.org/reports/ korea-2020. Accessed 6 Apr. 2021.

83. Pulse News. Renewable Energy, Clean Vehicles to Drive Green New Deal. https://pulsenews.co.kr/view. php?year=2020&no=729336#:~:text=Spending%20for%20 the%20green%20New,over%20the%20next%20five%20 years.&text=%E2%80%9COur%20goal%20is%20to%20bump,by%20 2025%2C%E2%80%9D%20Sung%20said. Accessed 6 Apr. 2021.

84. Reuters. “South Korea’s Moon Targets Carbon Neutrality By 2050.”

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85. Climate Analytics. South Korea Must Exit Coal By 2029 To Be In Line With The Paris Agreement. https://climateanalytics.org/latest/southkorea-must-exit-coal-by-2029-to-be-in-line-with-the-paris-agreement/.

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86. Bloomberg Green. World’s Biggest Wind Farm May Be Key To South Korea’s Net Zero Dreams . https://www.bloomberg.com/news/ features/2021-03-31/world-s-biggest-wind-farm-is-key-to-korea-s-netzero-dream. Accessed 6 Apr 2021 87. Business Korea. CS Wind Signs MoU With Two Danish Companies For Offshore Wind Development - Businesskorea. http://www. businesskorea.co.kr/news/articleView.html?idxno=55007. Accessed 6 Apr. 2021.

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90. IEA. Korea 2020 – Analysis - IEA. https://www.iea.org/reports/ korea-2020. Accessed 6 Apr. 2021.

91. World Bank. Vietnam Country Overview. https://www.worldbank.org/ en/country/vietnam/overview. Accessed 6 Apr. 2021.

92. Journal Of Economic Structures. Energy Demand And Factor Substitution In Vietnam: Evidence From Two Recent Enterprise Surveys. https://journalofeconomicstructures.springeropen.com/ articles/10.1186/s40008-019-0168-9. Accessed 6 Apr. 2021.

103. Climate Action Tracker. Vietnam. https://climateactiontracker.org/ countries/vietnam/. Accessed 6 Apr. 2021.

104. EQMagPro. “Viet Nam Has Installed 6 Coal Plants’ Worth Of Solar In A Year.” The Leading Solar Magazine In India, https://www.eqmagpro. com/viet-nam-has-installed-6-coal-plants-worth-of-solar-in-a-year/.

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105. JD Supra. Facing Gridlock In Vietnam – The Feed-in Tariffs Regime For Vietnam’s Wind And Solar Renewables | JD Supra. https:// www.jdsupra.com/legalnews/facing-gridlock-in-vietnam-the-feedin-4504124/. Accessed 6 Apr. 2021.

106. Baker McKenzie. Vietnam’s Draft Decision Provides New Opportunities For Renewable Energy Developers And Private Power Consumers | Insight. https://www.bakermckenzie.com/en/insight/ publications/2020/02/vietnam-draft-decision-pilot-ppa. Accessed 6 Apr. 2021.

107. Baker McKenzie. Vietnam’s Updates to the New Draft Circular on the Corporate Synthetic DPPA Pilot Program for Renewable Energy.

108. Global Compliance News. Vietnam: Key Highlights Of New Draft Of National Power Development Plan (Draft PDP8). 13 Mar. 2021, https:// globalcompliancenews.com/vietnam-key-highlights-of-new-draft-ofnational-power-development-plan-draft-pdp8-04032021-2/. Accessed 6 May 2021 109. Nikkei Asia. Nike And H&M To Vietnam: More Renewables, Please. 29 Dec. 2020, https://asia.nikkei.com/Business/Energy/Nike-and-H-M-toVietnam-More-renewables-please. Accessed 6 Mar 2021 110. Samsung Electronics. Sustainable Practices: Samsung’s Eco-Friendly Efforts Towards A Better Tomorrow. https://news.samsung.com/ global/sustainable-practices-samsungs-eco-friendly-efforts-towardsa-better-tomorrow. Accessed 6 Apr. 2021.

111. Samsung Electronics. Samsung Electronics Sustainability Report 2020 P25. https://images.samsung.com/is/content/samsung/p5/uk/ aboutsamsung/pdf/Sustainability_report_2020_en_F.pdf. Accessed 10 Feb. 2021.

112. Samsung Electronics CDP Climate Change 2020 Submission

93. IEA. 2020 Regional Focus: Southeast Asia – Electricity Market Report - December 2020 – Analysis - IEA. https://www.iea.org/reports/ electricity-market-report-december-2020/2020-regional-focussoutheast-asia. Accessed 6 Apr. 2021.

113. Ibid

94. IEEFA. Vietnam’s EVN Faces the Future: Time to Get Renewables Right. https://ieefa.org/wp-content/uploads/2020/09/Vietnams-EVN-Facesthe-Future_September-2020.pdf. Accessed 6 Apr. 2021 / ---. Vietnam’s PDP8 Should Be a Catalyst for Innovation, Not a Barrier to Change. http://ieefa.org/wp-content/uploads/2021/03/Vietnams-PDP8-ShouldBe-a-Catalyst_Not-a-Barrier-to-Change_March-2021.pdf. Accessed 6 Apr. 2021.

116. Ibid

95. Thomson Reuters. Electricity Regulation in Vietnam: Overview. https:// uk.practicallaw.thomsonreuters.com/4-628-5349?transitionType=Defa ult&contextData=(sc.Default)&firstPage=true. Accessed 6 Apr. 2021.

96. IEA. Vietnam - Countries & Regions. https://www.iea.org/countries/ viet-nam. Accessed 6 Apr. 2021 97. Climate Action Tracker. Vietnam. https://climateactiontracker.org/ countries/vietnam/. Accessed 6 Apr. 2021.

98. Climate Analytics. Decarbonising Asia. https://climateanalytics.org/ media/decarbonisingasia2019-profile-vietnam-climateanalytics.pdf.

Accessed 6 Apr. 2021.

114. Ibid 115. Ibid 117. Ibid 118. Ibid.

119. CDP 2020 Submission 120. DART. Samsung Business Report 2021 p.76. https://englishdart.fss. or.kr/ Accessed 28th Apr 2021 121. Samsung Electronics. Sustainable Practices: Samsung’s Eco-Friendly Efforts Towards A Better Tomorrow. https://news.samsung.com/ global/sustainable-practices-samsungs-eco-friendly-efforts-towardsa-better-tomorrow. Accessed 6 Apr. 2021.

122. NhanDan. Vietnam remains Samsung’s global manufacturing base. https://en.nhandan.org.vn/business/companies/item/8990602vietnam-remains-samsung%E2%80%99s-global-manufacturing-base. html Accessed 8 Feb 2021.

123. Samsung Electronics CDP Climate Change 2020 Submission

99. Vietnam Briefing News. Renewables In Vietnam: Current Opportunities And Future Outlook. https://www.vietnam-briefing.com/news/ vietnams-push-for-renewable-energy.html/. Accessed 6 Apr. 2021.

124. Samsung Electronics. Samsung Electronics Sustainability Report 2020 https://images.samsung.com/is/content/samsung/p5/uk/ aboutsamsung/pdf/Sustainability_report_2020_en_F.pdf. Accessed 10 Feb 2021

100. Climate Action Tracker. Vietnam. https://climateactiontracker.org/ countries/vietnam/. Accessed 6 Apr. 2021.

125. Ibid.

101. Scandling, Evan, and Rachel Posner Ross. Clean Industry. https:// csis-website-prod.s3.amazonaws.com/s3fs-public/Ross_Scandling_ Energy%20_Vietnam_Background_V1.pdf. Accessed 6 Mar 2021 102. EQMagPro. “Viet Nam Has Installed 6 Coal Plants’ Worth Of Solar In A Year.” The Leading Solar Magazine In India, https://www.eqmagpro. com/viet-nam-has-installed-6-coal-plants-worth-of-solar-in-a-year/.

Accessed 6 Apr. 2021.