Many companies are ready to talk the talk about climate and sustainability, but as it turns out, most aren’t willing to walk the walk. According to a recent study by BCG, only about one in five companies are ready to act on their climate and sustainability claims. Many say that sustainability is their top corporate priority, but few are developing products, processes, and business innovations to support sustainable models. Meanwhile, Samsung was ranked among the Top 10 most innovative companies of 2022 on the climate and sustainability front.
Samsung ranked 6th out of 50 in BCG’s 2022 list of “Most Innovative Companies” after Apple, Microsoft, Amazon, Alphabet, and Tesla. Once again, in this case, the term “innovative” pertains specifically to these companies’ efforts towards changing their business models and products in a way that supports climate and sustainability.
According to the study, Samsung is one of the few companies that have embraced environmental, social, and governance principles to lower its carbon footprint and create sustainable solutions.
Samsung’s working for a cleaner future
As an example of Samsung’s recent efforts, the company developed environmentally friendly retail boxes for many of its products and removed the wall charger for smartphones and tablets, as per the EU Commission’s regulations. It has extended firmware support for many devices and launched a self-repair program for Galaxy smartphone users in the USA.
More recently, Samsung announced that it wants to achieve net zero carbon emissions by 2050 and has joined the RE100 initiative to achieve its goals. The company is developing solutions to reduce power consumption and maximize product lifecycle. Samsung is also working to conserve water and reduce pollution for its semiconductor manufacturing processes.
Some of the most recent Galaxy flagships even feature non-critical components manufactured from recycled fishing nets and other post-consumer materials. All of these efforts combined, and more, have allowed the company to rank among the most innovative companies of the year.