Hyundai Mobis : joined Science Based Targets initiative (SBTi) for net zero emission by 2045
12/16/2021 | 10:39am EDT
· will achieve net zero emission with the implementation plans from global sites to value chains and local communities by 2045 · participating in global initiative, including SBTi and RE100, for the first time in Korean automotive industry · aims to expand low-carbon products and technologies from the procurement of raw materials to recycling
[Seoul, Korea, Dec., 14, 2021] Hyundai Mobis (KRX 012330) announces the roadmap to Net-Zero under a vision of "Green Transformation to 2045 Net-Zero". The company recently joined the Science Based Targets initiative (SBTi) for the first time in Korean automobile industry to go further and faster on the road to reach its 2045 destination.
The SBTi is a global campaign offering companies a way to set verified decarbonization targets with long-term emissions reduction plans. By joining the initiative, Hyundai Mobis will receive certification in two years based on strategic tracking of the company's goals.
By 2030, Hyundai Mobis aims to reduce greenhouse gas emissions by 30% compared to its 2019 level, switch the electricity used in its global sites to renewable energy by 2040 and achieve net-zero across its entire supply chain by 2045.
The roadmap includes phased implementation strategies from workplace to supply chains/product value chains, and to local communities in the end. Development of innovative technologies as well as expansion of carbon reduction products based on life cycle assessment are examples of implementation plans.
According to the roadmap, known to be reported to the board of directors on the 10th, Hyundai Mobis will accelerate its efforts with the major 4 strategies including reducing workplace carbon emissions through energy conversion, systematic supply chain management, expanding low carbon products in line with the paradigm shift, and managing sustainable partnerships to create a green ecosystem.
Along with SBTi, Hyundai Mobis is also participating in global campaigns for net-zero including RE100 (Renewable Energy 100%), and Business Ambition for 1.5°C in partnership with the Race to Zero.
Hyundai Mobis Co. Ltd. published this content on 14 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 December 2021 15:38:03 UTC.