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Samsung to withdraw from the coal industry

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Magazine Issue: 
The year of Covid-19 [3]
Magazine date: 
Nov 2020

SAMSUNGFollowing pressure from environmental guardians, Samsung Fire & Marine (SFMI) is no longer insuring new coal projects. This decision further reinforces the social and environmental responsibility of the Samsung Group.

Samsung Life and SFMI were the largest coal financiers in Korea, investing 12.6 billion USD in 40 coal-fired power plants over the past 12 years.

Globally, SFMI is the 23rd insurance company to cease insuring this kind of project.

Read also | Samsung, insurance at the heart of the empire [4]

Tue, 17/11/2020 - 12:25

Source URL: https://www.atlas-mag.net/en/article/samsung-to-withdraw-from-the-coal-industry

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