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Home » News » Business

Jan 15, 2013, 07.27 PM | Source: PTI

Samsung gets UN nod for Clean Development Mechanism biz

Samsung Electronics today said United Nations has approved sales of its energy efficient refrigerator range in India for UN Clean Development Mechanism business.

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Samsung gets UN nod for Clean Development Mechanism biz

Samsung Electronics today said United Nations has approved sales of its energy efficient refrigerator range in India for UN Clean Development Mechanism business.

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Samsung Electronics today said United Nations has approved sales of its energy efficient refrigerator range in India for UN Clean Development Mechanism (CDM) business.

"Samsung Electronics has received approval from United Nations Framework Convention on Climate Change (UNFCCC) for UN Clean Development Mechanism (CDM) business based on sales of its highly energy efficient refrigerator range," the company said in a statement.

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The increased usage of the energy efficient refrigerator range reduces electricity consumption and earns the company Certified Emission Reduction (CER) units as much as the amount of reduction, it added.

"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," the company claimed.

The CDM business 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.

Commenting on the development, Samsung Electronics President and CEO (South West Asia HQ) B D Park 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."

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