Samsung Electric will spend more than $5 billion to reach its goal of net zero emissions by 2050.

The money will be spent on research and development by the tech giant.

SEOUL Samsung Electronics (005930.KS), the world’s largest chip and mobile phone maker, said on Thursday that it will invest $5.02 billion and more than 7 trillion won in environmental projects by 2030. The goal is to make the company carbon neutral by 2050.

Samsung’s head of ESG strategy group, Kim Soo-jin, said that the money will be spent on research and development for technology that will filter out greenhouse gases and capture carbon dioxide made during chip production. The tech giant wants to make its business carbon neutral by 2030, but it wants to do it sooner. It also wants to make it easier to recycle things like lithium and plastic.

Kim said, “These things are done so that we can eventually meet the needs of our customers and get more people interested in our products.” “There are costs, but we’ll try to make it work for our business.”

Related: Samsung says that some US customer information was leaked in a breach in July.

RE100 is a group of companies around the world that are committed to using 100% renewable energy. Samsung said it joined the group, following in the footsteps of companies like Apple (AAPL.O), TSMC (2330.TW), and Intel (INTC.O).

South Korea also wants to reach net zero emissions by 2050, but analysts say this will be hard for a country like South Korea, which has a lot of heavy industries like shipbuilding and steel.

Data from the industry ministry shows that more than 60% of the country’s electricity comes from coal and gas, while only 6% comes from renewable sources.

For Samsung’s chip plants and other factories in South Korea to be competitive, they need stable and cheap energy. However, analysts say that progress in renewable energy has been too slow to meet these criteria so far.

“We are a company that makes things directly,” Kim said. “There are many different challenges.”

Customers and investors in Samsung have long requested clearer environmental goals from the company.

“Even though its carbon emissions keep going up, Samsung Electronics had put off making a clear promise about how to reduce carbon emissions in a meaningful way. Long-term investors are getting more and more worried about this, said Yoo-Kyung Park, who works as the head of responsible investment and governance for the Asia-Pacific region at APG Asset Management, which owns shares in Samsung.

The chips and components business was responsible for 15.6 million, or 90%, of the 17.4 million metric tonnes of greenhouse gases that Samsung Electronics released in 2021. The devices business, which includes mobile, was responsible for 10%.

Also, Samsung’s chip and component business used 144 million t of water in 2021, which was 88% of the 164 million t the company used. Samsung wants to keep the amount of water taken from sources at the same level as in 2021, even as chip production grows.

In addition to its goals for net zero emissions and water use, Samsung wants to recycle more of the materials it uses in its products, such as lithium and cobalt.

Related: Samsung unveiled two flip and fold phones and two watches.

It collects electronic waste in about 50 countries right now, and its goal is to do so in about 180 countries by 2030.

Kim also said that Samsung wants to use 50% of recycled plastic in its devices by 2030 and 100% of recycled plastic by 2050. It also wants to make more energy-efficient chips and devices.

“At the end of the day, we are a tech company… “So we will help fight climate change in a good way by making new technologies,” Kim said.

“Since we are a big company and our products are used by a lot of people, we will make a difference by going big.”