SAMSUNG ‘MADE IN INDIA’ REFRIGERATORS EARN UN APPROVAL FOR CDM BUSINESSon Jan 15, 2013
- Samsung India secures Certified Emission Reduction Credits through it’s energy efficient refrigerators
- Becomes the World’s First Electronics Company to achieve this distinction
The CDM Biz is based on tradable permit system authorised by the UN. Once a company or country voluntarily reduces greenhouse gas emissions and submits its projects, it is subject to third party scrutiny with the final approval being given by UN which also accords the CER credits.
Samsung India initiated its CDM project in India in September 2010 and received the Indian government’s approval in July 2011. The Company then applied for the UN CDM approval and received clearance in September 2012. This is the first time that a Home Appliances project has earned CER credits from the UN.
According to Samsung's emission reduction projects, the difference in electricity consumption between the energy efficiency levels of the total market and Samsung’s two-door refrigerators sold in India since 2010, will be deemed as a criterion to determine CER units. This difference is exactly the CER credits that Samsung will earn. The project is expected to obtain approximately 2.63 million of CER for 10 years starting now. These CER units can be traded with a developed country, which has a duty to reduce greenhouse gas emissions, in emission trading schemes. For this reason, Samsung Electronics intends to continue with external validation of its energy savings till 2014 and create revenue by CER trade in earnest from 2015.
Mr. B. D. Park, President and CEO, South West Asia HQ, Samsung Electronics said, “We plan to continue launching highly energy efficient refrigerators in the Indian market and return some of the CER trading profit to support India for its sustainable development.”
Samsung’s initiatives in the area of Energy Conservation have been lauded by the Indian government. In December 2012, Samsung Electronics was awarded the first prize for its energy efficient refrigerator range at the National Energy Conservation Awards 2012. Samsung was given this Prestigious Award for its ‘Achievements in Energy Conservation’ in the Star labeled Appliances (Refrigerator) Category.
About Samsung Electronics Co., Ltd.
Samsung Electronics Co., Ltd. is a global leader in consumer electronics and the core components that go into them. Through relentless innovation and discovery, we are transforming the worlds of televisions, smartphones, personal computers, printers, cameras, home appliances, medical devices, semiconductors and LED solutions. We employ 227,000 people across 75 countries with annual sales exceeding US$143 billion. Our goal is opening new possibilities for people everywhere. To discover more, please visit www.samsung.com/in