Hyundai Mobis Publishes '2045 Carbon Neutrality Report'

First Report Containing Carbon Neutral Strategy and Detailed Plan

[Asia Economy Reporter Kiho Sung] Hyundai Mobis announced on the 10th that it has published the '2045 Carbon Neutrality Report' to swiftly respond to the climate crisis and create a sustainable industrial ecosystem. This is the first time Hyundai Mobis has released a report detailing its carbon neutrality strategy and specific plans.

In October last year, Hyundai Mobis became the first company in the domestic automotive industry to join the Science Based Targets initiative (SBTi). Accordingly, it plans to have its greenhouse gas reduction targets verified by next year.

According to the 2045 Carbon Neutrality Report, Hyundai Mobis has set a goal to achieve true carbon neutrality across the entire value chain by 2045, including carbon emissions from domestic and overseas business sites, supply chains, products, and local communities. By including greenhouse gas management systems and plans for indirect emissions, which are difficult to manage directly outside business sites, the report significantly enhances its credibility.

To realize its carbon neutrality goals, Hyundai Mobis plans to switch 100% of the electricity used at all domestic and overseas business sites to renewable energy by 2040. To achieve this RE100 target, Hyundai Mobis launched an RE100 task force in August last year, consisting of about 130 environmental and energy management personnel from 100 domestic and overseas bases. RE100 is a global campaign for companies to convert 100% of their electricity consumption to renewable energy. Hyundai Mobis completed its RE100 membership in April this year.

Along with the 2045 Carbon Neutrality Report, Hyundai Mobis also published the '2022 Sustainability Report.' This year’s sustainability report includes the core contents of the carbon neutrality report as well as Hyundai Mobis’s environmental management vision, strategies, and major activity cases.

According to this sustainability report, Hyundai Mobis acquired about 1,000 related patents and international certifications last year in future technology fields such as autonomous driving, eco-friendly technologies, and connectivity. Approximately 30% of these were new patents related to eco-friendly technologies. Hyundai Mobis mass-produces and supplies driving systems, battery systems, fuel cell systems, and power conversion systems installed in hybrid, electric, and hydrogen vehicles to automakers.

Major activity cases for implementing a circular economy by Hyundai Mobis are also introduced in this year’s sustainability report. Hyundai Mobis manages the sources of waste generation in detail to reduce raw material usage and minimize waste throughout the entire product manufacturing process. As a result of these efforts, Hyundai Mobis’s Changwon plant was recognized in June as the first 'Zero Waste to Landfill' site in the domestic automotive industry. Hyundai Mobis plans to continuously improve its waste recycling rate and achieve zero waste to landfill at all domestic and overseas business sites by 2030.

Meanwhile, Hyundai Mobis plans to utilize the carbon neutrality report and sustainability report to respond to the carbon neutrality demands and ESG evaluations of various internal and external stakeholders. It also plans to strengthen external communication to transparently disclose the implementation status and achievements by phase and period.

This content was produced with the assistance of AI translation services.